MRI Software, a Solon, OH-based provider of real estate management software solutions, received a strategic growth investment of undisclosed amount.
Harvest Partners made the investment in partnership with existing investors TA Associates, GI Partners and management. Funds managed by Harvest Partners SCF, LP provided financing. As part of the deal, Michael DeFlorio, Ira Kleinman and Andrew Schoenthal from Harvest will join TA Associates, GI Partners and Patrick Ghilani on the Board of Directors of MRI. Also leading the investment from Harvest were Michael Greenman, David Schwartz and Joshua Carter.
The management team, led by CEO Patrick Ghilani, will continue to lead MRI and remain significant owners of the business.
The company intends to use the funds to continue to expand its business reach, further develop its comprehensive software portfolio and allow for strategic add-on acquisitions.
MRI provides real estate management software solutions globally. Its product portfolio includes SaaS solutions for commercial and residential property management, leasing, accounting, investment management and modeling, facilities management, and other applications. The company serves a diverse set of 8,500+ global enterprise customers and employs 1,400+ people across 21 global offices.