Milwaukee-based
Rent College Pads, a software provider helping college students streamline their search for off-campus housing, has been acquired by Denver-based
StarRez, a Vista Equity company.
Terms of the deal were not disclosed.
StarRez, a provider of on-campus student housing software, has more than 3 million beds under management, according to a Thursday announcement.
Rent College Pads builds out online platforms which universities then use to create a one-stop-shop for student housing. Approximately 5 million students use Rent College Pads’ software to find housing, according to
Dominic Anzalone, founder and CEO of the company.
He launched the company as a college student in 2013 during an entrepreneurship class at the University of Wisconsin-Whitewater. One of the company’s first partnerships was with Marquette University.
Since then, Rent College Pads has grown to partner with more than 100 organizations across the country including the University of Michigan, University of Texas at Austin, Florida State, and Columbia University.
In 2015, Rent College Pads raised $1.5 million from several local investors including
BrightStar Wisconsin,
Racon Capital and the
Wisconsin Super Angel Fund. Since then, Rent College Pads has not needed to raise any more capital from investors.
“We’ve been profitable since we first started,” said Anzalone. “Our growth rate was always close to 100%. It’s really a true Midwest story because we didn’t raise a lot of money at all, and we grew into this great thing.”
The acquisition will allow both companies to a create single, end-to-end solution for universities. While Rent College Pads is focused on off-campus housing, StarRez focuses on on-campus housing options. Having all this information on one platform will further streamline housing searches for students, Anzalone said.
“Without us, it’s kind of like the wild west (for students),” he said. “We’ve consolidated all the available options in one platform and created a safe place for them.”
The acquisition expands StarRez’s off-campus housing listings and provides tailored solutions for students and property managers. Universities will now be able to feature curated, off-campus housing options while also supporting their student wellness and retention goals.
“Over the past decade, College Pads has grown from a bootstrapped startup into a transformative force in the off-campus housing industry, revolutionizing how students find and secure housing while empowering millions each year to make informed decisions during one of the most pivotal stages of their lives,” said
Mitch Ehly, chief operating officer of Rent College Pads. “This acquisition marks an exciting new chapter, and by combining our innovation and expertise with StarRez’s global leadership in student housing solutions, we are uniquely positioned to redefine the housing experience for students both on and off campus.”
Rent College Pads will continue to be headquartered in Milwaukee and Anzalone says the company plans to grow its team locally. He declined to share how many employees Rent College Pads had prior to the acquisition, but did share that StarRez has more than 400 employees across the country.
“Students often must balance their preferences of location, amenities, and budget when transitioning to off-campus living, and College Pads has long been a trusted leader in this space," said
Travis Knipe, CEO of StarRez. "We look forward to enhancing this platform for our StarRez Global Community and investing further in user-friendly features. Together, StarRez and College Pads will redefine student living worldwide.”
