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Updater Gets Moving with $5M in Series A

       
NEW YORK, NY, Updater announced today that it has raised approximately $5 million, including a Series A financing round led by SoftBank Capital and IA Ventures.
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Widely considered one of life's most stressful moments, moving homes is commonly fraught with overwhelming decisions, unforeseen roadblocks and unexpected costs. Enter Updater.com, the one-stop solution enabling families and individuals to update all of their personal accounts and records, connect home services and file their USPS change of address, all from one easy-to-use free website.

Updater announced today that it has raised approximately $5 million, including a Series A financing round led by SoftBank Capital and IA Ventures. The company plans to invest in first-class talent, technology resources and marketing.

David Greenberg , Updater's CEO and Founder commented, "We're thrilled to partner with SoftBank and IA, who share our vision to reinvent address change and simplify the moving process. We have introduced seamless technology for the 40 million Americans who relocate each year to securely manage vital information and update it all with a touch of a button. Fueled by our growing partnership base, we're excited by the opportunity to provide free services and a rich user experience to a demographic who, during this brief period, have both disposable income and flexible loyalties."

"Before Updater, people were forced to inefficiently notify dozens of businesses and service providers when they were preparing to move," said Joe Medved , Partner at SoftBank Capital. "Updater is a game changer for people moving- it helps them stay organized and save time and money."

Ben Siscovick, General Partner at IA Ventures added, "Updater's data enables businesses and organizations to maintain an accurate database of customers, alumni or constituents. Thousands of businesses and organizations already accept Updater's near real-time address change updates and those numbers continue to rise each month. We look forward to working closely with the Updater team to grow the business."

About Updater
Modern moving begins with Updater, the fast and free way to update accounts with a new address in just a few clicks. Easily schedule cable, electric, and other utilities to be transferred to your new home. File your official mail forwarding form with the USPS. Plus, get access to exclusive discounts through our extensive network. Updater helps relocating families and individuals simplify the moving process, saving them time and money. Visit www.updater.com for more information.

About SoftBank Capital
SoftBank Capital makes early and growth stage investments in companies that connect people, devices and the world. SoftBank Capital invests in category leaders in consumer and enterprise mobile, online advertising, ecommerce, social media and cloud computing. We have been making investments since 1995, with recent exits including Bluefin Labs, Buddy Media, Hyperpublic, Huffington Post, OMGPOP, Pivot and ZipList. Our investors include SoftBank Corp., which introduced the iPhone to the Japanese market and recently announced the strategic acquisition of Sprint; and Yahoo! JAPAN, the largest search engine and content portal in Japan. To learn more, visit www.softbank.com.

About IA Ventures
IA Ventures is an early-stage venture capital firm that invests in companies creating competitive advantage through data. We believe that using data as a core asset will drive innovation in everything from storage and processing infrastructure to analytics to data-driven products and services. With that in mind, we focus on businesses that use cutting-edge technology to manage and extract value from today's massive, occasionally unstructured, often real-time datasets. For more information, please visit www.iaventures.com.
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