Entrata
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Entrata, Inc. is a privately held software company based in Lehi, Utah, United States. It specializes in cloud-based property management software for apartment owners and operators.
History[edit]
Entrata was founded in 2003 (initially Property Solutions, rebranded as Entrata in 2015)[1] by David Bateman, Johnny Hanna, and Ben Zimmer.[2]
In December 2020, co-founder and then-CEO David Bateman stepped down from his role to focus on other business ventures, though remaining with the organization as chairman of the board.[3] Adam Edmunds was named as CEO.[3]
In July 2021, it was announced by Forbes senior editor Alex Konrad that Entrata had raised $507 million, making it Utah's newest software Unicorn (finance), with the investment round led by Silver Lake, Qualtrics cofounder Ryan Smith (businessman), and Domo (company) founder Josh James.[3]
In January 2022, Entrata made international headlines when it was widely reported that Bateman (then board chairman) sent an email filled with anti-semitic COVID-19 vaccine conspiracy theories to prominent Utah technology executives and politicians.[4] Bateman was subsequently asked to resign from his role as board chairman and, as the company's majority shareholder, to divest his holdings in the company.[5][6][7]
Revenue[edit]
Entrata's revenue was expected to exceed $210 million in 2021.[8]
Valuation[edit]
While Entrata has never commented publicly on its valuation, cofounder Dave Bateman held a majority ownership of the business at the time of the company's $507 million fundraise, meaning that Entrata was valued at more than $1 billion in July 2021.[8]
References[edit]
- ↑ "Property Solutions Becomes Entrata". Multifamily Real Estate News. 2015-06-25. Retrieved 2022-03-01.
- ↑ "Y. duo places 2nd in national contest". Deseret. 2004-04-29. Retrieved 2022-03-01.
- ↑ 3.0 3.1 3.2 Konrad, Alex. "Entrata Raises $507 Million After 18 Years Bootstrapped, Making It Utah's Newest Software Unicorn". Forbes. Retrieved 2022-03-01.
- ↑ Konrad, Alex. "Entrata Chairman David Bateman Resigns Hours After Sending Anti-Semitic Vaccine Conspiracy Email". Forbes. Retrieved 2022-03-02.
- ↑ "Entrata founder who sent antisemitic email will divest holdings in company". Deseret. 2022-01-07. Retrieved 2022-03-02.
- ↑ KUTV, Daniel Woodruff (2022-01-05). "Entrata founder now says he's 'not ready' to talk publicly about anti-Semitic email". KUTV. Retrieved 2022-03-03.
- ↑ "Entrata founder who accused 'Jews' of COVID-19 vaccine conspiracy steps down from software company's board". The Salt Lake Tribune. Retrieved 2022-03-03.
- ↑ 8.0 8.1 Konrad, Alex. "Entrata Raises $507 Million After 18 Years Bootstrapped, Making It Utah's Newest Software Unicorn". Forbes. Retrieved 2022-03-02.
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