Deals
Moving App Updater Nabs $215 Million in Vista Equity Backing
- Buyout firm’s credit subsidiary to provide capital for growth
- Relocation app connects users with vendors and services
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Updater Inc., an app and technology developer for residential relocation services, has received $215 million in financing from the credit investment arm of Vista Equity Partners.
The funds from Vista Credit Partners, a subsidiary of the Austin, Texas-based private equity firm, will be used as growth capital, according to a statement provided to Bloomberg News. Updater plans to accelerate its investments in research and development, workforce talent, new products and user features, and also to expand into more industry verticals, the company said.