Acquisition Marks Expansion of HappyCo’s Multifamily Service and Technology Platform in Canada and Europe
SAN FRANCISCO, Nov. 2, 2022 /PRNewswire/ — HappyCo, the leading residential operations platform for real-time rental property data collection and utilization, is acquiring Toronto-based Yuhu, a comprehensive rental lifecycle management platform. Terms of the deal were not disclosed.
Yuhu’s operations platform is utilized by top property owners and operators such as Boardwalk, CAPREIT, and BentallGreenOak and services over 500,000 prospects and residents across Canada and Europe.
“We’ve known the Yuhu team for quite some time and both companies share a similar culture and common vision to improve the multifamily industry,” said HappyCo CEO, Jindou Lee. “The merger of our firms broadens our collective impact on the overall resident lifecycle, and will allow us to capture more actionable data, create opportunities to enhance resident experiences, and streamline property operations to ease the daily workload of onsite teams.”
Yuhu’s cloud-based software for property owners and managers will be integrated into HappyCo’s ‘Happy Property Suites’ and ‘Happy Force’ products to offer a complete operations solution for customers and residents. The Yuhu acquisition provides HappyCo with a resident-facing solution that significantly enhances its existing products and offers HappyCo customers a cohesive product that delivers an end-to-end view of the property lifecycle.
As part of the acquisition, Yuhu’s current employees will join the HappyCo team, including Hugh Kolias, CEO of Yuhu, who will join as EVP. Existing Yuhu customers will benefit from an expanded solutions platform, accelerated product investment, and broader support while enjoying continuity of service.
“We are thrilled to join forces with Jindou and the HappyCo team to achieve our shared vision to enhance the quality of life for multifamily residents and operators,” said Kolias. “By bringing our teams and products together, we’re able to provide our mutual client-partners with an even better all-around experience.”
Founded in 2011, HappyCo is the leading source of condition assessments and workflow tools for the multifamily market. Designed to automate, simplify, and protect data collected during residential rental property inspections, the platform has in-unit data on more than 3.5 million multifamily and single-family rental homes – notably one out of every eight professionally managed units in the U.S. The company provides vital underwriting information to lenders, investors, and asset managers, and empowers property managers with real-time operational tools and reporting. In 2021, HappyCo data were relied upon in about 26 percent of all U.S. sales transactions of multifamily units. HappyCo also serves property managers, offering a complete suite of apps to simplify processes, drive better performance and generate comprehensive views of assets within a portfolio.
HappyCo is a real estate software company that develops mobile and cloud solutions to enable real-time operations data for property managers, asset managers, lenders, and investors. Its software suite includes market-leading condition assessment and workflow tools with in-unit data on over 3.5 million rental homes. Founded in 2011 in Adelaide, Australia, the company is privately held with a remote workforce throughout the US, Canada, and Australia.
Yuhu Inc. is a cloud-based multifamily operations platform that manages the entire rental lifecycle from lead to renewal. Yuhu’s product suite provides onsite teams with a single, comprehensive solution and access to consolidated data insights. Founded in 2015, Yuhu supports over half a million residents, onsite staff, and prospects for its client-partners including Avenue Living, BentallGreenOak, Boardwalk, CAPREIT, Concert, Hollyburn, Campus Living Centers, Westdale, and other leaders in the Canadian multifamily industry.
Media Contact: Eric Nizguretsky, Great Ink Communications – email@example.com, (212) 741-2977