Updater, Inc.

Updater, Inc. is a US-based software company specializing in solutions that simplify the moving process for individuals and families, providing tools to streamline tasks associated with relocation. Founded in 2011 by David Greenberg, Updater, Inc. operates from its headquarters in New York, US.

The company focuses on enhancing the moving experience through a comprehensive software platform. In December 2015, Updater raised USD 215. 00 mn in a VENTURE DEBT round led by Vista Equity Partners, bringing its total amount raised to USD 95. 00 mn and establishing a current valuation of USD 2000.

00 mn. Updater has been involved in 12 different deals since its inception. Updater provides a comprehensive suite of tools designed to facilitate the moving process for individuals and families. Their primary offerings include an invite-only moving app that allows users to organize their move, set reminders, and check off tasks from a customizable moving checklist.

The platform assists users with various aspects of relocating, including securing utility connections, purchasing internet and TV plans, booking moving services, obtaining insurance, and forwarding mail. This functionality addresses the common challenges associated with moving, aiming to reduce stress and streamline the transition into a new home. Updater's services are utilized by over 25% of Americans who move each year, servicing a diverse client base that includes real estate agents, property management companies, and individuals across the United States. Updater operates on a revenue model that combines direct-to-consumer transactions and partnerships with businesses in the moving industry.

The platform is free for users; however, it generates revenue by facilitating services offered through third-party providers, such as moving companies and insurance providers, through a commission-based structure. Clients can choose from a range of services, which may include booking movers or purchasing insurance, with prices coming directly from service providers displayed on the Updater platform. The company’s partnerships extend to multifamily and property management sectors, where they provide customized solutions for clients and streamline the moving process for residents. Through these various transaction types, Updater effectively monetizes its offerings while enhancing the user experience during one of life’s most significant transitions.

Updater's strategy for future growth includes the potential launch of new features within its platform aimed at improving user engagement and simplifying the moving process. The company plans to expand its reach into additional geographic markets, focusing on underserved areas across the United States by the end of 2023. The recent funding raised in December 2015 will be utilized to support these expansions and product enhancements, further solidifying Updater's position within the moving industry.