Updater is a technology company that provides a web-based platform simplifying relocation for millions of U.S. households annually by centralizing tasks like mail forwarding, utility transfers, TV/internet connections, and account updates.[1][2][3] It serves individual movers and partners with prominent real estate firms—including brokerages, multifamily operators, and relocation companies—offering branded, customizable products that personalize the moving experience and save clients time.[1][2][3] The company solves the fragmented, time-consuming logistics of moving, which affects 11-17 million households yearly, while generating $38.9 million in revenue and employing around 185-168 people as a remote-first New York City-headquartered business with over $250-300 million in total funding across six rounds, including a $215 million raise.[1][2][3]
Updater demonstrates strong growth momentum through strategic acquisitions like Dolly (2021) and partnerships with investors such as SoftBank Capital, IA Ventures, Commerce Ventures, Fidelity International, and Second Century Ventures (NAR's arm), alongside recognitions like Crain's Best Places to Work in NYC.[2][3][4]
Founded in 2011 in New York City, Updater emerged to tackle the unmet needs of busy movers facing disorganized relocation logistics.[1][2][3] The founding team, driven by a passion for streamlining moves for 11-17 million annual U.S. households, built a diverse group—from "jugglers to fashionistas to geeks"—fostering a vibrant culture with office DJ rotations, happy hours, and surprises.[2][3] Early traction came from real estate partnerships, evolving into a platform relied on by thousands of top U.S. firms, fueled by nearly $200-300 million in funding and five acquisitions that expanded its ecosystem.[1][2][3][4]
Updater rides the proptech wave, capitalizing on rising U.S. residential mobility amid urbanization, remote work shifts, and real estate digitization, where fragmented moving services create pain points for 11-17 million households yearly.[2][3] Timing aligns with post-pandemic housing churn and proptech investments, amplified by Updater's real estate integrations that boost partner efficiency.[1][2] Market forces like e-commerce growth in home services and VC interest (e.g., SoftBank) favor it, while its platform influences the ecosystem by standardizing mover tech, competing with Thumbtack/Houzz, and enabling seamless transitions in a $1T+ real estate sector.[3][4]
Updater's remote-first scalability and acquisition strategy position it to dominate mover tech amid proptech consolidation and AI-enhanced personalization trends. Next steps likely include deeper AI integrations for predictive logistics, international expansion beyond the U.S., and more home services via buys, evolving its influence as the go-to platform for real estate-driven relocations. As housing fluidity persists, Updater will shape efficient, branded moving experiences, tying back to its core mission of taming relocation chaos for millions.[1][2][3][4]
Updater has raised $103.0M in total across 2 funding rounds.
Updater's investors include IA Ventures, Lerer Hippeau, Moderne Ventures, Second Century Ventures, Bowery Capital.
Updater has raised $103.0M across 2 funding rounds. Most recently, it raised $95.0M Venture Round in December 2019.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Dec 1, 2019 | $95.0M Venture Round | IA Ventures, Lerer Hippeau, Moderne Ventures, Second Century Ventures | |
| Mar 1, 2014 | $8.0M Series A | Bowery Capital, IA Ventures, Lerer Hippeau, Moderne Ventures, Second Century Ventures |
