May 15 (Reuters) - Entrata said on Thursday it had

raised $200 million from funds managed by alternative asset

manager Blackstone that valued the property management

software provider at $4.3 billion.

The funding will allow Entrata expand its footing in the

rental housing industry, the company said.

"This investment from Blackstone represents a powerful

alignment of capital and expertise that will allow us to bring

world-class technology to an expanded footprint of owners,

operators and residents," said Entrata CEO Adam Edmunds.

Blackstone's minority investment comes roughly four years

after private equity firm Silver Lake took a majority stake in

Entrata.

In 2021, Entrata had raised $507 million from investors

including Silver Lake and Dragoneer, in what was its first

institutional round of capital raising.

"We are pleased to invest in Entrata as they continue to

expand their technology solutions for the property management

industry," Blackstone managing director Brian Dunlap said.

Founded in 2003, Entrata's products enable property

managers and residents to handle tasks such as tracking work

orders, managing finances, and processing online payments.

The Lehi, Utah-based company currently serves over 12

million residents across 35,000 multi-family communities

globally.

Wilson Sonsini Goodrich & Rosati served as legal advisor on

the funding to Entrata.