Inhabit IQ, the collective of proptech companies serving the vacation, residential and commercial rental management industries, today announced the completion of a “significant investment” by the Goldman Sachs Merchant Banking Division in the company. Goldman Sachs will join existing investors Insight Partners, Greater Sum Ventures and PSG as institutional shareholders in Inhabit IQ.
In the vacation rental industry, Inhabit IQ’s companies under its umbrella include Streamline, LiveRez, Virtual Resort Manager (VRM), Bluetent, Q4 Launch, Lynnbrook, Rental Guardian, LSI Tools, and Bizcor.
While the amount was not disclosed, the funding will be used for additional acquisitions, investment in innovation, and to “accelerate its growth.” Lisa Stinnett will remain in her role as CEO.
Anthony Arnold, Managing Director at Goldman Sachs, said in the company’s release, “Inhabit IQ is a leader in the fast-growing property management software market, and we have been very impressed with the platform that Lisa and the Inhabit IQ management team have built. We look forward to supporting the management team in the next phase of their evolution.”
“We’re gratified by Goldman Sachs’ show of confidence and look forward to working with this experienced team to grow our solutions portfolio,” said Lisa Stinnett, Inhabit CEO, in the company’s release. “Inhabit continues its track record of strong performance even amid today’s uncertain environment. We believe in the future of the property and vacation management industries and will help these businesses thrive by addressing their critical technology needs.”
According to Crunchbase, “Goldman Sachs Merchant Banking Division is a private equity and venture capital firm that provides equity and credit investment. It is a subsidiary of Goldman Sachs Group, Investment Banking and Securities Investments. It is focused on providing private equity, mezzanine debt, senior secured loans and distressed debt securities. It manages private capital globally and offers expertise to companies, investors, entrepreneurs, and financial intermediaries around the globe. It also invests in equity and credit across corporate, real estate and infrastructure strategies. Goldman Sachs Merchant Banking Division began operation in 1869, with its headquarters in New York.”
RSS