Rentsync Raises Significant Growth Investment Led by Silversmith Capital Partners
Rentsync, a leading software and data company serving Canada's rental housing industry, today announced it has raised a significant growth investment led by Silversmith Capital Partners. The partnership with Silversmith will enable the company to further invest in technology, expand its team, and pursue strategic acquisitions as it builds a comprehensive platform of data, software, and analytics to address the challenges of Canada's rental housing ecosystem.
With a consistent track record of strong growth and profitability, Rentsync serves thousands of customers across Canada, including REITs, property management companies, and property developers. The company offers a range of innovative products and services designed to empower owners and landlords to streamline workflows, engage tenants, and maximize property potential.
"We are thrilled to partner with the team at Silversmith, who bring not only deep sector and operational expertise but also a successful history of backing Canadian growth companies," said Max Steinman, CEO of Rentsync. "Silversmith's commitment to building category-leading businesses aligns perfectly with our long-term vision to simplify and optimize the rental housing experience for owners, managers, marketers, and renters alike."
Silversmith has a long and successful history of investing in, and partnering with, Canadian software companies and entrepreneurs, having led growth investments or supported acquisitions in every major region of the country—including Calgary, Montreal, Toronto, and Vancouver. Notable investments in which Silversmith served as the first institutional investor include Absorb Software and Apryse (fka PDFTron Systems).
"As a firm, we are focused on partnering with growing, profitable businesses led by domain experts, and Rentsync embodies these attributes," said Jim Quagliaroli, Managing Partner at Silversmith. "We're excited to support Max and his talented team as their first institutional investor as they continue to grow both organically and through strategic acquisitions."
"The combination of software and data via its numerous listing sites, sticky workflow software, and data and analytics offerings make Rentsync's value proposition clear. The best is yet to come for Rentsync and its valued customers," remarked Matthew Nash, Vice President at Silversmith.
In connection with the investment, Silversmith Senior Advisors Mike Owens, Co-Founder & former CEO of Absorb Software, and Mike Volpe, former CEO of Lola.com (acquired by Capital One) and former CMO of HubSpot (NYSE:HUBS), have joined Rentsync's Board of Directors alongside Quagliaroli and Nash. The Board also includes CEO Max Steinman and Dan Jauernig, former CEO of Apartments.com and Cars.com (NYSE:CARS).
Stikeman Elliott and Kirkland & Ellis served as legal counsel to Silversmith Capital Partners. Software Equity Group (SEG) and Borden Ladner Gervais (BLG) served as advisors to Rentsync.
About Rentsync
Based in Toronto, Rentsync is a leading software and data company, specializing in serving the Canadian rental housing industry. Rentsync offers a range of innovative products and services designed to streamline rental property marketing, leasing, and property management. It also owns and operates the Rentals.ca Network, the leading online marketplace for rental housing in Canada. Its commitment to professionalism, innovation, and accessibility has made it a trusted leading partner for rental housing marketers, leasing agents, and renters.
About Silversmith Capital Partners
Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $3.3 billion of capital under management. Silversmith's mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. Representative investments include ActiveCampaign, Appfire, Apryse, DistroKid, impact.com, Iodine Software, LifeStance Health, Onbe, and Webflow. For more information, including a full list of portfolio investments, visit www.silversmith.com or follow the firm on LinkedIn.
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Giacomo Ladas -- [email protected]