55places and Neighborhoods.com Announce Growth Capital Investment from Long Ridge Equity Partners
CHICAGO, July 19, 2019 /PRNewswire/ -- Neighborhoods.com LLC, the parent company of 55places.com and neighborhoods.com, announced today that it has received a significant investment from Long Ridge Equity Partners. A leading operator of specialized online real estate marketplaces, the websites help homebuyers identify their perfect community, home, and agent. This investment will allow the company to accelerate its growth by supporting additional product development, sales and marketing, and agent services.
The company was originally founded in 2007 as 55places.com, which has grown to become the number one real estate website for age-restricted and active lifestyle communities. In 2015, the business introduced neighborhoods.com, a leading online real estate resource that puts the neighborhood at the center of the home search. Both websites provide up-to-date home sale listings across the U.S., comprehensive area descriptions, photos, independent reviews, and access to its program of highly-qualified agents—ensuring each prospective homebuyer is connected with the most knowledgeable and credible experts in their designated area.
"Long Ridge has a successful track record of guiding leading technology companies through the distinct opportunities and challenges that come with rapid growth, and we're excited to partner with their team as we enter this exciting phase," said Bill Ness, CEO and founder of 55places and neighborhoods.com. "In addition to their value-add, Long Ridge also shares our cultural values, and I'm confident this investment will best support the company's growth trajectory."
Angad Singh, a principal at Long Ridge, commented, "We are impressed by the dynamic growth that 55places and neighborhoods.com has achieved since inception and are proud to be the company's first outside investor. They have developed an attractive business model and mission-driven approach to the online homebuying process, and we're thrilled to support their talented team in this next phase of significant growth."
Concurrent with the investment, Angad Singh and Dan Hang will join the company's board of directors. Hang was an early employee and senior executive at Trulia and Zillow Group, where he spent a decade leading teams related to product and strategy from the company's infancy through its initial public offering. He is currently president and COO at Revinate, a technology company focused on the hospitality industry.
"We are pleased to welcome Dan and Angad to our board and team. We look forward to the diverse experience and perspective they can bring to the table," added Ness.
DC Advisory acted as exclusive financial advisor to Neighborhoods.com, LLC.
About Neighborhoods.com, LLC
Neighborhoods.com, LLC helps people find the perfect neighborhood and home. Comprised of brands 55places.com and neighborhoods.com, the two online real estate websites provide up-to-date home sale listings across the U.S., detailed community descriptions, photos, independent reviews, and access to its network of carefully-selected agents––ensuring each prospective homebuyer is met with the most knowledgeable and credible experts in their designated area. To learn more, visit the brands' websites.
About Long Ridge Equity Partners
Long Ridge is a growth-oriented private equity firm focused on financial and business technology. Since its founding in 2007, Long Ridge has been fortunate to sponsor some of the most successful growth companies in its target sectors. Long Ridge manages over $400 million of committed capital. For more information on the firm and its investments, please visit www.long-ridge.com.
Media Contact:
Marissa Walters
Communications Manager
[email protected]
773-278-5500
SOURCE Neighborhoods.com, LLC
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