“SEG has really carved out a niche in our space and when we were looking for an IB to represent us, SEG was the first name that came to our mind. And SEG delivered for us big time. At the beginning of the process, they gave us an ARR multiple range to expect. Through the competitive bidding process, they handily beat the upper end of the range, thereby exceeding all stakeholder expectations. The process was very well run; everything from understanding our business, positioning it in the best possible way, and constant communication through the entire process was top notch. For any CEO or Board considering them, you are in great hands with SEG.”
Nitin Vig, CEO, Mobile Doorman

SEG Client, Mobile Doorman, Acquired by Zego

February 4, 2021 - Zego (Powered by PayLease), the property technology company that powers resident experience management for the multifamily and HOA industry, today announced the acquisition of Mobile Doorman, the multifamily industry's leading mobile resident engagement and data analytics solution. This is Zego’s third acquisition in two years and reflects the rapidly evolving demands of the rental housing industry, including modernization of mission-critical processes like leasing, communication, maintenance, and payment collection.

Mobile Doorman provides a customizable, branded app for multifamily operators and residents to engage via mobile devices. The fully customizable tool heightens the residents’ experience, helps community managers operate more efficiently, and enables property management companies to achieve higher profitability and streamlined workflows.

With the Mobile Doorman acquisition, Zego further solidifies its position as a PropTech leader and expands its mobile platform that enables multifamily operators to elevate their resident experience. Mobile Doorman’s solution adds a robust set of features and functionality, such as lease renewals and resident data analytics, along with a strong customer base with more than one million residents. By integrating Mobile Doorman’s solution into its platform, Zego broadens its offerings to property management companies seeking to increase resident satisfaction and boost operational efficiency.

“Mobile Doorman pioneered the concept of branded multifamily community apps,” said Dirk Wakeham, CEO of Zego. “Today, property management companies that provide a modern mobile-first resident experience are thriving with increased NOI, driven by higher resident satisfaction and retention. Combining Mobile Doorman’s solution with Zego’s platform further enhances our easy-to-use mobile app, which delivers an improved, digital resident experience.”

Zego will offer the Mobile Doorman solution alongside Zego EngageTM, a mobile app that drives resident engagement, empowers staff, and increases NOI. In doing so, Zego accelerates its product roadmap focused on supporting residential property operators in modernizing their resident experience - an evolution that began with PayLease’s acquisition of Zego in 2019. PayLease rebranded to Zego (Powered by PayLease) in February 2020 and acquired RentTrack’s payment business later that year. The Mobile Doorman acquisition represents the latest step in Zego’s resident experience management platform journey.

“We’re excited to join a fantastic team who, like us, works hard to support property management companies in improving resident retention and improving their NOI,” said Nitin Vig, CEO of Mobile Doorman. “This is great news for our customers, especially those who've asked for additional integrations of payments and convergent utility billing. Zego shares our vision of building a bridge between what residents expect and what property managers provide from a service and mobile technology standpoint.”

As CEO of Mobile Doorman, Vig has led its rapid growth and industry-leading feature innovation since 2019 and will continue working with Zego’s leadership team to further Zego’s leadership in resident experience management solutions.

“With the addition of Mobile Doorman’s customer base, Zego’s comprehensive mobile app now serves more than 2,500 multi-family communities. We are well-positioned to make a difference managing the resident experience,” Wakeham said. “We’re bringing together two innovative companies with a passion for streamlining resident and property management interactions and operations. Current and future customers can expect significant benefits as a result of this acquisition.”

About Software Equity Group

Software Equity Group (SEG) provides unparalleled M&A advisory services for emerging and established software companies. For more than twenty years, SEG has worked alongside its software industry clients to drive extraordinary outcomes for the client’s shareholders, employees and customers. Over this time period, SEG has managed hundreds of sell-side M&A transactions, representing billions of dollars of aggregate transaction value. SEG’s unwavering commitment to the software industry equates to unmatched expertise across software industry product categories, delivery models, technology and end market verticals; and unrivaled access to key decision makers among strategic and private equity buyers.