Avenu acquires LTAS Technologies Inc. (Harmari) to combine the leading technologies of the short-term rental industry to provide a fully integrated platform for both citizens and government officials.
Avenu Insights & Analytics (Avenu), the global leader in revenue enhancement and administration solutions for state and local governments, today announced the acquisition of LTAS Technologies Inc. (Harmari), a leading provider of short-term rental identification, monitoring and compliance software and services
Avenu and Harmari share a long history of providing innovative public sector solutions that maximize revenue, optimize operations, fight fraud and non-compliance, and enhance the citizen experience. Both companies bring together a common mission to better connect governments with citizens through enhanced digital platforms and real-time communication.
Harmari’s industry leading monitoring and identification software and Avenu’s scalable administrative solutions will help maximize compliance, while streamlining the collection of short-term rental and transient tax revenue for governments. Together, Avenu and Harmari will provide an end-to-end monitoring and full-service compliance solution that improves the citizen experience while maintaining a budget-neutral approach for local leaders
The integration of Harmari’s monitoring and machine learning technology and Avenu’s full-service compliance, administration, and analytics brings together a fully integrated platform for both citizens and government officials. The result is a level of service that transforms the way in which local government can address the rapid growth associated with short term rentals that puts a heavy drain on staff, services and resources that are hard to scale for local officials. This approach reduces the dependency burden on governments to piece together resource-intensive processes and technologies that result in an inefficient experience and loss of tax and permitting revenue for governments and the citizens they serve.
“Keeping pace with the growth of short-term rentals, rapid changes in technology, and increased citizen expectations are challenges that many state and local governments are facing,” shared Avenu CEO, Paul Colangelo. “We are combining the industry’s leading technologies to create a better experience for citizen’s while providing a full-service compliance solution that gives governments a way to properly monitor and collect all short-term rental revenue.”
“We are very pleased to join the Avenu family,” stated Harmari CEO, Allen Atamer. “We are continually innovating our technology to pivot to the needs of local governments and address the rapidly changing landscape. Harmari has a highly skilled team, and together, we will continue to deliver an industry leading GovTech platform that modernizes and streamlines this critical revenue stream and compliance objective for governments of all sizes, worldwide.”
About Avenu Insights & Analytics
Over 3,000 state and local governments have partnered with Avenu to drive positive results for their communities through software administration and revenue enhancement solutions. Avenu’s comprehensive software solutions digitally transform government by modernizing processes, providing online access to records, and reducing costs. Avenu also provides a robust ecosystem of revenue management services that identify and recover untapped revenue. State and local governments work closely with Avenu to increase revenue without raising taxes, streamline internal operations, and improve services by enhancing connectivity for constituents. Avenu is a portfolio company of Mill Point Capital. To learn more, visit www.avenuinsights.com.
About LTAS Technologies Inc. (Harmari)
Founded in 2011 and headquartered in Toronto, LTAS Technologies Inc. is a SaaS provider of monitoring and compliance tools to over 300 government customers in the US, Canada and Spain at the federal, state, provincial and municipal level. Harmari’s technology focuses on providing deep insight and clarity to online short-term rental data that allows governments to understand and administer compliance such as registration, transient lodging tax payment, nuisance response and audit selection.
About Mill Point Capital
Mill Point Capital LLC is a private equity firm focused on control investments in lower-middle market companies across the business services, technology and industrials sectors in North America. Mill Point’s experienced team of investors and Executive Partners seek portfolio company value enhancement through rigorous implementation of transformative strategic initiatives and operational improvements. Mill Point is based in New York, NY. For more information, please visit www.millpoint.com.