MRI Software, the global real estate software solution firm, has revealed that funds managed by Harvest Partners, LP are making a “substantial strategic investment” in the company.
Harvest Partners joins existing investors TA Associates and GI Partners as institutional shareholders in MRI. MRI also announced that TA Associates is also making a “significant” new investment in the business.
The firm said these investments will enableit to bolster innovation across its end-to-end offering, accelerate growth, extend its global footprint and deliver on its mission to create an open technology environment for the real estate industry.
Patrick Ghilani, MRI CEO, said: “Harvest is an experienced investor with a long-term perspective that will help MRI continue to meet the growing and evolving needs of our clients, innovate our software portfolio and provide world-class global service.
“We believe the added capital will further the development of our comprehensive software portfolio and allow for strategic add-on acquisitions to meet the needs of a rapidly changing market. Our management team is invigorated to continue our mission in this new decade with the support of these three experienced investors.”
MRI has more than 8,500 enterprise clients, representing over two million users, who rely on the company’s applications to run their daily real estate operations.