Updater secures $215 million investment from Vista Credit Partners

Updater, announced a $215 million investment from the credit investment arm of Vista Equity Partners. The investment will provide Updater with growth capital to fund extensive R&D, launch products into new markets, develop additional features for users, and invest in talent to support Updater’s continued growth.

Founded in 2010, the New York-based company offers moving-related services including booking movers, forwarding mail, setting up utilities, and buying insurance. It generates revenue from commissions when customers book service providers using its platform. The company generated over $100 million in revenue in 2021 and it claims to facilitate 3M+ moves each year.

“Since day one, our vision has been the same – to completely reimagine the experience of moving. We’re thrilled to partner with Vista Credit Partners for this investment round, which will propel Updater to new heights as the clear industry-leading platform in moving technology, the category we created in 2010. This capital provides us the resources we need to expand into new moving segments and broaden our suite of marketplace and SaaS products.” – David Greenberg, founder and CEO of Updater.

“Updater provides a best-in-class platform that is redefining the relocation experience, providing a win-win model for both consumers and businesses. VCP looks to partner with founders of companies that have a strong market position and a mission-critical product suite, both of which we found in Updater, by providing non-dilutive capital solutions. We look forward to partnering with David and the entire Updater team as they continue to innovate and transform the market.” – David Flannery, president of Vista Credit Partners.