SAN FRANCISCO, CA (August 27, 2021) – Mainsail Partners announced today a transaction under which its portfolio company ResMan, a business management software for the property management industry, will join Inhabit IQ, a collective of tech-forward companies serving the vacation and property management industries.
“This is an incredible milestone for our company and our team,” says Elizabeth Francisco, President of ResMan. “The partnership with Mainsail was instrumental in helping us to scale and achieve our objective of expanding our market share while delivering maximum value to our customers and our customer’s customers. Mainsail had the utmost respect for the culture of our company as they collaborated with our team to make necessary changes for us to be successful in our next phase of growth with Inhabit IQ.”
Mainsail and ResMan partnered on a number of initiatives to build value in the business, including: recruiting an experienced executive leadership team comprised of a CEO, CFO, CPTO, CMO, CRO and SVP of Customer Service; reorganizing the sales team to effectively address different segments of the market; developing critical products and functionality to create a one-stop solution for property managers; and launching a proactive customer success team to enhance the customer experience. Further, Mainsail recruited three independent Board Members: Gayle Crowell, Jeff Stone and Robin Heller.
“Mainsail helped us remain focused on our customer-first strategy,” says ResMan CEO, Paul Bridgewater. “They brought resources and experience to help us build and acquire a powerful suite of products to wrap around our existing core software solution in order to deliver even greater value for our customers. Additionally, they helped our team to optimize our customer experience and enhance our go-to-market strategy to connect our product offering with the ideal end market.” Added Bridgewater, “This was a rewarding partnership and now we are excited for the next phase of our journey with one of the leaders in our market and the exceptional team at Inhabit IQ.”
In addition to new product development, Mainsail provided M&A support to help ResMan source and close several acquisitions, including: HighTech Solutions (affordable housing compliance software); Budgetrac (commercial property management software); Razz Interactive (property websites and resident engagement platform) and Investor Deal Room (real estate investor syndication and management software).
“It has been very fulfilling to support ResMan’s management team through this time of growth,” says Gavin Turner, Managing Partner at Mainsail. “As with many of our investments, this one started with a strong culture and a powerful core product which we were able to build on in collaboration with the team at ResMan. We believe Inhabit IQ is an ideal place for the company to have continued success and we wish them the best of luck.”
In 2021, ResMan was honored to be included on the list of National Apartment Association Best Places to Work as well as Best Places to Work Multifamily for Women® by Multifamily Leadership.
Mainsail Partners is a growth equity firm with offices in San Francisco and Austin that invests exclusively in fast-growing, bootstrapped software companies. The firm has raised over $1.3 billion and invested in more than 50 growing companies since 2003. Mainsail prioritizes investments in B2B software companies with compelling business models in growing markets. The firm’s approach to driving value creation is anchored in a dedicated Operations Team that is purpose-built to help founders scale their businesses and accelerate growth. These women and men include former software company operators who leverage real-world experience, well-established best practices, and a true partnership ethos to support management teams. For more information, visit mainsailpartners.com or follow the firm on LinkedIn.
ResMan is the preferred growth partner that drives profitability and efficiency for nearly a thousand property management companies across the U.S. ResMan delivers the property management industry’s most innovative technology platform, making property investments and operations more profitable and easier to manage. ResMan’s platform unlocks a new path to growth for property management companies that deliver consistent NOI improvement and brilliant resident experiences easier than ever before. For more information, visit us at www.myresman.com or engage with us on Twitter, LinkedIn, or Facebook.
About Inhabit IQ
Inhabit IQ is a unique collective of tech-forward companies serving the vacation and property management industries. Its strategic partnerships deliver best-in-class software solutions and services while fostering innovation and collaboration with like-minded entrepreneurs and industry leaders. The company believes that property managers should have the opportunity to choose platforms that best support their business goals and benefit from strategic partnerships across their ecosystem. Inhabit IQ has several private equity partners, including Goldman Sachs Asset Management, Insight Partners, Greater Sum Ventures and PSG, that are committed to helping support the Company’s commitment to property management software innovation. To learn more, visit InhabitIQ.com.