Pomegra
Livingbridge-backed Elevare Software Group launched on 30 September 2026 by buying UK housing software providers Rubixx and Voicescape, terms undisclosed.
Key Takeaways
- Elevare launched on 30 September 2026 by acquiring Rubixx and Voicescape. Price and valuation were not disclosed.
- Livingbridge backs Elevare. BGF, Voicescape's investor since 2023, reinvested alongside it.
- Rubixx serves about 100,000 properties and Voicescape about 4 million homes.
Lead
Elevare Software Group, a new UK software holding company led by former IRIS Software Group executives David Lockie and Elona Mortimer-Zhika, started trading on 30 September 2026 with two acquisitions: Rubixx, a housing management platform, and Voicescape, a resident engagement and rent collection tool. Lockie is chief executive and Mortimer-Zhika is chair. The private equity firm Livingbridge backs the group. Nobody has disclosed the purchase prices, the size of the equity commitment or the valuation.
What Did Elevare Actually Buy?
Elevare bought two companies that sell to the same customers but do different jobs. Rubixx makes a cloud-native housing management platform for social landlords, built on open APIs and updated every eight weeks. It supports 40 organisations covering about 100,000 properties, and its founders are Simon Reay, Adam Parker and Michelle Holland.
Voicescape, founded by John Doyle, applies behavioural science, data analytics and automation to resident contact. Landlords use it to identify vulnerable households, improve rent collection and document compliance. More than 135 housing associations and local authorities use it, across roughly four million homes.
The customer counts differ by a wide margin. Voicescape reaches about forty times as many homes as Rubixx, so it is the larger commercial asset by footprint. Revenue and headcount for both businesses were not disclosed.
Why Did Livingbridge Back a Housing Platform Now?
The timing follows regulatory pressure on landlords. The UK Government has described a decade of renewal for social and affordable housing. Landlords face Phase 2 of Awaab's Law, which sets deadlines for dealing with hazards in homes, and the administrative load of Universal Credit payments. Both raise demand for software that records repairs, flags vulnerable tenants and produces evidence for regulators.
Voicescape's route to this deal also helps explain the interest. BGF invested in the company in 2023, and a regional business report on the exit said revenues tripled under its ownership. BGF has reinvested alongside Elevare, so it has sold part of its position and kept a stake. That structure suggests the existing backer still sees growth ahead, though the size of the retained holding is undisclosed.
How Does Elevare Plan to Grow?
Elevare is a buy-and-build vehicle, not a one-off acquisition. The company says housing is the first of multiple sectors it intends to invest in, and it describes its approach as long-term capital, hands-on operating support and an AI-first mindset for software and tech-enabled services businesses that want to keep their identity.
Lockie and Mortimer-Zhika's record is the main selling point. They led IRIS Software Group through its $4 billion recapitalisation, which was one of Europe's largest technology buyouts at the time. Lockie said founders "don't need more theory or financial engineering" and need partners "who've done it before." Mortimer-Zhika said software operating behind the scenes has historically been underserved for modernisation and innovation.
The record cuts two ways. Roll-up strategies in vertical software have a history of strong early multiples followed by integration problems, especially when products overlap or customers resist price rises. Rubixx and Voicescape are complementary in function, which lowers that risk, but the real test is whether Elevare can sell them as a single offer to landlords that already run established housing systems.
Who Advised and What Is Missing?
Alvarez & Marsal advised Voicescape on the sale, and Sequence Advisers advised Rubixx. Buyer-side advisers and the debt package, if any, were not named. Without a price or a revenue figure, the multiple Livingbridge paid cannot be calculated, and any claim about whether the deals were cheap or expensive is guesswork.
What Comes Next for Elevare?
The next signal is a third acquisition, in housing or in a second sector. Elevare has said it intends to expand beyond housing but has not named target sectors, which leaves the pipeline open. Add-ons within housing, such as asset compliance or repairs software, would be the lower-risk step because the customer base is already in place.
Integration will set the pace. Rubixx updates its platform every eight weeks, and Voicescape sells into a much larger base, so Elevare must decide whether to keep them as separate brands or bundle them. A bundled offer would test whether landlords will buy both from one supplier.
Outlook
Elevare enters UK housing software with two acquired companies, a private equity sponsor and a leadership team with a large buyout behind it. Regulatory demand on landlords supports the thesis. Undisclosed pricing, unspecified financing and an unproven integration plan leave the economics unclear until further deals or filings reveal them.
