Roofstock Acquires Leading Tenant Screening Company Rentprep

Aug 04, 2022•almost 3 years ago

Acquiring Company

Roofstock, Inc.

Acquired Company

RentPrep

OaklandReal Estate

Description

Roofstock, the leading digital platform for buying, selling, and managing single-family rental (SFR) investments, today announced it has acquired RentPrep, a tenant screening company used by over 100,000 landlords. This transaction follows Roofstock's recent acquisitions of Great Jones and Stessa, as Roofstock continues to deliver tech-enabled solutions designed to make investing in the $4 trillion SFR market radically accessible and efficient for both individual and institutional investors.

Company Information

Company

Roofstock, Inc.

Location

2001 Broadway

Oakland, California, United States

About

Roofstock is the leading digital real estate investing platform for the $4 trillion single-family rental home (SFR) sector. Its innovative technology and software level the market's playing field, making it possible for both incumbents and new investors to maximize opportunities across the U.S. and realize substantial rewards in a customized, transparent digital experience. The company provides extensive resources for institutional and retail investors to buy, manage, and sell investment real estate online. Founded in 2015 and recently named to Forbes' list of America's Best Startup Employers 2022, Roofstock has raised over $400 million from investors such as Khosla Ventures, Bain Capital Ventures, Lightspeed Venture Partners, Canvas Ventures, SVB Capital and SoftBank Vision Fund 2. A recently-minted proptech "unicorn" with nearly a $2 billion valuation, Roofstock has facilitated more than $5 billion in transactions on its platform to date. Contact: press@roofstock.com SOURCE Roofstock

M&A Insights

Based on deal data

Integration timeline

70% of M&A integrations take 12-24 months to complete

Tech stack consolidation

83% of merged companies consolidate technology vendors within first year

Post-acquisition investment

Companies increase IT spending by 23% on average after acquisitions

Success factor

M&A deals with strong technology integration plans are 2.5x more likely to succeed

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