RealPage secures real estate technology financing

RealPage Inc., a provider of residential real estate technology services, on Monday announced that it has secured $20 million in financing from Apax Partners. Proceeds from the investment will be used to fund expansion of the company's current property management and property marketing products, and provide additional capital for potential strategic acquisitions.

RealPage offers software products and services that automate operations for owners and managers of real estate properties, serving more than 20,000 apartment communities across the United States.

"We were attracted to RealPage because of the company's leading market share position in the multifamily real estate sector and the success of OneSite, its next generation, fully-integrated suite of Web-based products," said Roger Hurwitz of Apax Partners.

In addition, RealPage named Alfred Berkeley, former President of NASDAQ, to its board of directors.

Roger Hurwitz, partner, and Jason Wright, principal, of Apax Partners, and Jim Malernee, managing director of Cornerstone Research, will also join the board.

Apax Partners is a private equity investment group, operating across Europe, the United States and Asia.

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