Overview

Updater simplifies the moving process for individuals and families by offering a platform where users can book essential services like internet and TV, order packing supplies, and secure home or renters insurance. The Updater app allows users to compare various service providers, making it easier to choose the best options for their needs. In addition to serving individuals, Updater also assists real estate professionals and multifamily partners by automating the move-in process, which helps reduce their workload and enhances the experience for their clients. The company generates revenue through partnerships with service providers, earning commissions on transactions made through its platform. What sets Updater apart is its combination of personalized assistance from experienced team members and the convenience of an all-in-one technology platform. The goal of Updater is to make moving as seamless and stress-free as possible for its users.

Simplify's Take

What believers are saying

• Recent $60M funding boosts growth potential in the relocation market.
• Integration with PetScreening simplifies pet compliance for multifamily communities.
• Recognition as a top moving technology enhances Updater's industry reputation.

What critics are saying

• Increased competition from new entrants like Milestones threatens market share.
• Over-reliance on service provider partnerships could impact revenue if terms change.
• Pressure from investors to scale rapidly may lead to operational challenges.

What makes Updater unique

• Updater offers a comprehensive platform for all moving-related services.
• The company combines human assistance with intuitive technology for a seamless user experience.
• Updater's partnerships with service providers enhance its service offerings and revenue model.

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Funding

Total Funding

$375.5M

Above

Industry Average

Funded Over

6 Rounds

Notable Investors:

SoftBank

Notable Investors:

SoftBank

$215,000,000

Debt

May 2022

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Debt Funding Comparison

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