Elevare Software Group Acquires Rubixx and Voicescape

A new player, Elevare Software Group, has officially entered the market, backed by private equity firm Livingbridge. The company, co-founded by seasoned software executives David Lockie and Elona Mortimer-Zhika, has immediately made its mark by acquiring two prominent UK-based technology providers: Rubixx and Voicescape. This strategic move establishes Elevare's presence within the housing sector, signaling its intent to build a comprehensive technology ecosystem for the industry.

The acquisitions are particularly timely, aligning with a significant push for modernization within the UK's social and affordable housing segments. With government initiatives driving a decade of renewal, landlords are facing increased scrutiny regarding property safety and resident engagement. Regulatory changes, such as the extended responsibilities under Awaab’s Law and the complexities of Universal Credit impacting rent collection, are creating a strong demand for advanced software solutions. Elevare aims to address these critical needs by integrating innovative technology into the sector.

Rubixx, a cloud-native platform, assists social landlords in maintaining property safety and operational efficiency, supporting approximately 100,000 properties across 40 organizations. Its open API architecture and frequent updates ensure adaptability. Voicescape, on the other hand, leverages behavioral science and data analytics to enhance resident communication, identify vulnerable households, and improve rent collection rates. This platform is already utilized by over 135 housing associations and local authorities, covering an estimated four million homes, and provides Elevare with a strong entry point into the intersection of housing and public sector technology.

Elevare's operational philosophy centers on providing long-term capital and hands-on expertise, coupled with an AI-first approach, to help software businesses achieve significant scale. The leadership team, including David Lockie as CEO and Elona Mortimer-Zhika as Chair, brings a wealth of experience, notably from their previous roles in scaling software businesses, including the notable recapitalization of IRIS Software Group. This deep operational understanding is a key differentiator, promising founders a partnership focused on practical growth rather than just financial engineering.

Livingbridge's investment underscores the significant market opportunity identified in the vertical software space, particularly with AI acting as a catalyst for transformation. As Simon Peet, Partner at Livingbridge, noted, the social housing sector presents a prime example of where refreshing technology stacks can yield substantial improvements. The acquisition of Rubixx and Voicescape provides Elevare with robust foundational assets in a sector where technology's role is becoming increasingly vital for efficient operations and improved resident outcomes.

The acquisition of Voicescape also represents a successful exit for BGF, which had previously invested in the company. BGF has reinvested alongside Elevare, indicating continued confidence in Voicescape's growth trajectory. Elevare plans to support its portfolio companies across all facets of business, including technology development, go-to-market strategies, financial operations, and talent management, aiming to foster a collaborative ecosystem for innovation and expansion.