Entrata, which provides a software platform for managing multifamily rental properties, filed on Thursday with the SEC for an initial public offering we estimate could raise up $500 million.
Sizable software names have been notably absent from the IPO market this year. Entrata joins just two other software issuers in the public pipeline looking to raise $100+ million.
Entrata provides a property management operating system for the US multifamily housing market, serving owners, operators, and residents across approximately 2.5 million units as of March 2026. The platform consolidates functions across the property lifecycle, including leasing, accounting, payments, resident screening, renters insurance, and utility management, into a single-login system. Entrata generates revenue primarily through subscription fees and transaction-based fees, the latter driven largely by payment processing volume. The company also offers a suite of embedded financial and lifestyle products for residents under its Homebody brand.
The Lehi, UT-based company was founded in 2003 and booked $536 million in revenue for the 12 months ended March 31, 2026. It plans to list on the NYSE under the symbol ENT. Entrata filed confidentially on December 17, 2025. Goldman Sachs, J.P. Morgan, Barclays, BofA Securities, Needham & Co., Raymond James, UBS Investment Bank, Wells Fargo Securities, William Blair, KeyBanc Capital Markets, Stephens Inc., and Truist Securities are the joint bookrunners on the deal.
Alice J. Roden started working for Trending Insurance News at the end of 2021. Alice grew up in Salt Lake City, UT. A writer with a vast insurance industry background Alice has help with several of the biggest insurance companies. Before joining Trending Insurance News, Alice briefly worked as a freelance journalist for several radio stations. She covers home, renters and other property insurance stories.