Realty tech startup HappyCo raises $10.8m Series A led by Sydney-based Alium Capital

Image from Property Perfect website.

By Ardi Wirdana

April 9, 2018

Australian real estate tech company HappyCo has announced the closing of its Series A funding round of $10.8 million led by Sydney-based investors Alium Capital Management, according to an official statement

Also participating in the round are Australia-based Tempus Partners and PieLab Venture Partners, as well as existing investors including Larsen Ventures and Sandalphon Capital.

HappyCo provides mobile and cloud-based application for inspecting, managing and monitoring residential properties and commercial facilities. Its inspection function in particular is used by thousands of companies and has captured more than 100 million items inspected.

The startup is now based in San Fransisco, but has retained its engineering talent and roots in Adelaide, where it was founded.

“HappyCo is a modern Australian success story, and we see a very bright future ahead because of its industry-leading technology and proven track record of execution,” says Alium Partner Rajeev Gupta.

The fresh funds will be used by the company to invest in R&D operations in Australia and the U.S. and build out the support team to sustain its growing Asia-Pacific customer base.

Founded in 2011, HappyCo’s operation is led by founder and CEO Jindou Lee, an entrepreneur-turned real estate investor, who along with software developer Andrew Mackenzie-Ross initially built mobile inspection app Happy Inspector in 2012.

Following the success of the app, the pair introduced Happy Manage in July 2015 and Happy BI later in the same year before developing HappyCo, which shifted their business from a real-estate specific app into an operations solutions platform used by brands across multiple verticals.

The platform is currently used to manage more than 1.2 million units by companies such as Airbnb, Softbank/Fortress and Vicinity Centres.

For Alium Capital, the funding for HappyCo comes after the investment company led a funding round of $6.8 million for Australian artificial intelligence company Daisee.

Recently, property discovery and management app Soho, founded by Jonathan Lui, co-founder of Australian startup Airtasker, raised $1.29 million in investment round led by Bridgelane Capital to be used to accelerate product development and expand the team at their Singapore headquarters.

Also Read:

Property app Soho raises $1.29m for expansion of Singapore headquarters

Australia Digest: CrowdfundUP, HappyCo raise funding

Australia: Alium Capital secures $79.1m in commitments for venture fund

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

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Following vacancies can be applied for (only in Singapore).   

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  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
APPLY NOW