Adam Edmunds

In May of this year, funds managed by private equity sasquatch Blackstone invested $200 million in property management platform Entrata. The investment valued the Utah-based company at $4.3 billion and underscored its growing presence in proptech. 

In a statement to Commercial Observer, Adam Edmunds, Entrata’s CEO since 2020, called the Blackstone investment “a major milestone and a strong signal of confidence in our team, our platform and our vision.

“With their partnership,” he added, “we’re accelerating our next chapter, which will expand our reach, drive innovation, and continue to elevate every experience across the resident life cycle with the property.”

Edmunds is no stranger to infusions for the company. Within a year of him taking over its helm, Edmunds engineered a $507 million fundraise from private equity firm Silver Lake and others. It was Entrata’s first institutional round and the largest instance of private equity fundraising in Utah history, the firm said.

Between then and the Blackstone infusion, Entrata only grew, becoming one of the more animating proptech firms not only in the multifamily space — including student and military housing — but also in commercial real estate in general. (The company does service office, industrial and retail, but it’s best known for its work in housing.) Entrata now services at least 12 million residents across more than 35,000 multifamily complexes globally, according to the company. The 22-year-old company is also one of the older proptech firms. 

Further growth is a given, according to Edmunds. Much of that will come from expanding its suite of offerings to owners and tenants — including through the use of AI — and refining what’s already there.

“As we head into 2026, we are continuing to elevate the industry standard,” Edmunds said. “Our road map is laser-focused on creating more products that streamline efficiency and quality of operations for onsite staff and elevating the resident experience.”