LoneTree Capital invests in Carson Living

NEW YORK — LoneTree Capital, a New York-based growth capital firm, has announced a strategic investment in Carson Living, a provider of integrated access control, remote doorman and resident engagement software for multifamily properties.

The investment of capital and operational resources will enable Carson to drive continued product innovation, expand its national footprint, and enhance its ability to reach and support property owners and managers across the multifamily real estate industry.

Founded in 2017, Carson allows property managers and residents to manage building access, deliveries, and communication through one unified platform. Its technology integrates with a wide range of hardware and software partners. Carson has more than quadrupled revenue since 2021 and is utilized in nearly 1,000 residential properties across the United States and Europe.

“Carson has built a differentiated product suite that sits at the intersection of building operations and resident engagement,” said Mike Devine, Partner at LoneTree. “We’re excited to partner with the Carson team to accelerate product innovation and expand the company’s footprint within the rapidly growing smart-building market.”

Guy Blachman, Founder and CEO of Carson, added: “Our mission has always been to make property management and resident life simpler and more connected. Partnering with LoneTree provides us with the expertise and resources to accelerate that mission and scale our platform to serve more communities. LoneTree’s experience successfully scaling companies at our stage and their unique partnership mindset were highly attractive to our team and we’re excited to have them as partners for the next phase of our journey.”

As part of the investment, Mike Devine, Rhett Lambert and Peter Bozian will join Carson Living’s Board of Directors. Terms of the deal were not disclosed. Software Equity Group served as financial advisor to Carson and Hinckley, Allen & Snyder LLP served as legal counsel to LoneTree.