Clearwater International has advised private equity firm Livingbridge on its investment in Mobysoft, a market leader in predictive software for social housing providers.
Mobysoft’s core product, RentSense, is a Software as a Service (SaaS) based predictive analytics service which delivers accurate and prioritised workload to social landlords. Using a range of data, RentSense’s algorithms present social housing officers accurate workload information, saving them time, improving efficiency in rent collection and enabling social landlords to mitigate welfare reform and reduce arrears by tens of millions of pounds a year. Mobysoft’s software is used daily by over 90 social housing operators managing c.1 million properties, almost a fifth of the sector’s 5.2 million UK based properties.
Livingbridge’s investment will enable Mobysoft to grow its UK social housing market share, increase investment in people and extend the use of predictive analytics into other areas of social housing.
Growing rent arrears is an issue for the UK’s 1,650 social housing providers with the largest 100 alone facing more than £700m of gross arrears in 2016. Rent reductions and welfare reform including Universal Credit, are adding to cost pressures in the sector and driving the need for greater efficiency.
Livingbridge has a strong track record in supporting software businesses and the investment in Mobysoft follows previous investments in CSC, Eque2, and Kirona, all of which were transactions advised by Clearwater International.
Clearwater International’s Director of TMT Emma Rodgers and Associate Kirsten Hadley advised Livingbridge on this transaction.