LOS ANGELES, Dec. 18, 2019 — K1 Investment Management, LLC (“K1”), a leading investment firm focusing on high-growth enterprise software companies, today announced the sale of its portfolio company, Buildium LLC (“Buildium”), category leader in SaaS real estate property management software, to RealPage, Inc., a global real estate technology platform.
K1 was the first institutional investor in Buildium, partnering alongside the company’s co-founders, Michael Monteiro and Dimitris Georgakopoulos. Since K1’s initial investment, Buildium’s revenues have grown more than 10x and its customer base has more than tripled.
“We decided to partner with K1 as our first investor after their team reached out to us directly and built a relationship with our business for more than a year,” said Michael Monteiro, co-founder of Buildium. “K1’s track record in building exceptional software companies gave us confidence that they were the right partner to help Buildium reach its next stage of growth.
“With K1’s partnership, Buildium made significant investments to grow its headcount, strengthen its go-to-market efforts and expand its product portfolio. Additionally, Buildium leveraged K1’s sector specialization, sourcing capabilities and operational expertise to complete and integrate two add-on acquisitions.
“We are proud of the market-leading product and customer experience that Buildium provides to property managers worldwide and are grateful for our longstanding partnership with K1 to help realize this vision,” said Dimitris Georgakopoulos, co-founder of Buildium. “The K1 team has been a trusted partner and advisor to Buildium as it has grown into a true category leader in real estate technology.”
Additionally, K1 is an active participant and proud sponsor of Buildium’s community causes, including its team’s participation in Bike MS, an annual bike ride from Boston to Provincetown which is organized by the National Multiple Sclerosis Society to raise funds for MS treatment and awareness.
“When we first invested in Buildium in 2012, K1 saw a company with a mission-critical product and compelling fundamentals where we could help accelerate growth and solidify the company’s market leadership,” said Taylor Beaupain, Managing Partner at K1. “Since then, we have had the privilege to partner with an exceptional management team focused on delivering the best to its customers, employees, investors and community, and look forward to seeing what the team will accomplish next.”
K1 builds category-leading enterprise software companies. As a global investment firm, K1 assists high-growth businesses to achieve successful outcomes. K1 invests alongside strong management teams that continue to guide their organizations on a day-to-day basis. With over 85 professionals, K1 changes industry landscapes by assisting with operationally-focused growth strategies. Since inception of the firm, K1 has partnered with over 115 enterprise software companies including category leaders such as Apttus, Buildium, Checkmarx, ChiroTouch, Chrome River, Granicus, Rave Mobile Safety, RFPIO, Smarsh, WorkForce Software and Zapproved.