Key Takeaways
- • Polaris Growth Fund (PGF), a Boston-based private equity firm focused on founder-led software and technology-enabled services companies, has made a strategic investment in ID Plans, a commercial real estate property intelligence provider.
- • The investment will provide ID Plans with additional capital, strategic resources, and operational expertise to expand across the commercial real estate market and accelerate product development.
- • ID Plans will continue to operate under its existing name and leadership team, with founder and CEO Jeff Landry remaining in place.
- • Software Equity Group served as financial advisor to ID Plans; the deal's financial terms were not disclosed in the release.
Summary
Jeff Landry, ID Plans founder and CEO, described the investment as "an exciting next chapter" for the company and said PGF shares the company's vision for its future. Dan Lombard, managing partner at PGF, said the firm sees "meaningful opportunities to invest in the platform, expand the company's reach, and support ID Plans as it enters its next phase of growth." The release did not disclose the size of the investment or its valuation.
Founded in 1999, ID Plans describes itself as a property intelligence suite designed to take a space from vacant to occupied to renewed. The company uses a nationwide field staff, 3D cameras and aerial drones to create full space profiles for retail, office, industrial, manufacturing and government buildings. Its ID Cloud operating system underpins an integrated product ecosystem covering tenant management, exterior asset management, virtual property tours and proactive maintenance intelligence. The company said the investment will help it scale while preserving its focus on customer-specific solutions.
Software Equity Group acted as financial advisor to ID Plans on the transaction. Polaris Growth Fund is a software-focused affiliate of Polaris Partners, a Boston-based private investment firm with two decades of technology and healthcare investing experience and offices in Boston, San Francisco and New York.
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