Adam Edmunds, CEO of Entrata, pauses to suppose throughout an interview on the firm’s headquarters in Lehi on Friday, Aug. 12, 2022. Ben B. Braun, Deseret Information
Adam Edmunds, CEO of Entrata, poses for a photograph within the foyer of the corporate’s headquarters in Lehi on Friday, Aug. 12, 2022. Ben B. Braun, Deseret Information
Adam Edmunds, CEO of Entrata, left, stroll down a staircase with Nico Dato, Entrata’s chief advertising and marketing officer, on the firm’s headquarters in Lehi on Friday, Aug. 12, 2022. Ben B. Braun, Deseret Information
Adam Edmunds, CEO of Entrata, far left, solutions a query from Deseret Information reporter Artwork Raymond, second from proper, as Nico Dato, chief advertising and marketing officer of Entrata, second from left, and Jacob Moon, of Methodology Communications, proper, throughout an interview at Entrata’s headquarters in Lehi on Friday, Aug. 12, 2022. Ben B. Braun, Deseret Information
Adam Edmunds, CEO of Entrata, poses for a photograph on the firm’s headquarters in Lehi on Friday, Aug. 12, 2022. Ben B. Braun, Deseret Information
Again in early January, veteran tech entrepreneur Adam Edmunds was simply a few weeks previous his one-year anniversary as CEO of Lehi-based property administration software program innovator Entrata when his cellphone erupted with messages.
That torrent of communications was spurred by a ranting, wildly anti-Semitic e mail authored by Entrata founder and longtime CEO Dave Bateman which had simply turn out to be public.
Bateman’s screed was despatched to over 50 addressees, together with Utah tech sector executives, elected officers and different state leaders claiming “the Jews” had been behind the COVID-19 vaccines and a part of a “sadistic effort underway to euthanize the American folks.”
“I write this e mail understanding that a lot of you'll suppose I’m loopy after studying it,” Bateman wrote within the Jan. 4 e mail. “I consider there's a sadistic effort underway to euthanize the American folks. It’s apparent now. It’s plain, but nobody is doing something. Everyone seems to be discounting their very own judgment and dismissing their instinct.
“I consider the Jews are behind this.”
On the time the e-mail was despatched, Bateman was out of the day-to-day operations of Entrata however nonetheless held his place as chairman of the corporate’s board of administrators and was additionally the bulk proprietor of the corporate.
The e mail drew widespread condemnation, nationwide and worldwide information protection, and despatched a shockwave via the ranks of Entrata, a business-to-business software program startup that had constructed enormous success via innovation and prided itself on an organization tradition based mostly on celebrating variety.
Adam Edmunds, CEO of Entrata, poses for a photograph within the foyer of the corporate’s headquarters in Lehi on Friday, Aug. 12, 2022.
Ben B. Braun, Deseret Information
And whereas the non-public fallout for Bateman included his ouster from the board and, a number of months later, a full monetary divestiture from the corporate he helped launch in 2003, Edmunds was left to steer Entrata and its workers, clients and traders via the poisonous cloud left behind by the founder’s unhinged claims.
“It’s an expertise you may’t put together for,” Edmunds stated within the first interview he’s carried out because the incident. “There isn't a chapter within the CEO handbook for coping with occasions like that.”
Edmunds responded publicly with an announcement that condemned Bateman’s hateful statements and underscored Entrata’s dedication to inclusion, however knew the trail ahead could be tough. Missing any playbook to navigate the overwhelming response to the e-mail, Edmunds stated he selected to “lead with my coronary heart” and believed the very best precedence was to acknowledge the ache and anger left within the wake of Bateman’s vitriol.
“Actually, what I felt like my job was at the moment was to carry house for all of the feelings folks went via,” Edmunds stated. “Our workers, our clients, the individuals who reside within the communities we assist handle, the Jewish group, the broader group ... I wished all these folks to really feel OK going via their emotions.”
A part of Edmunds’ response included reaching out to Rabbi Sam Spector of Salt Lake Metropolis’s Congregation Kol Ami synagogue.
Again in January, Spector instructed the Deseret Information that an preliminary cellphone name led to his assembly with a bunch of Entrata executives, an expertise he known as a primary in his time as a rabbi. Forward of that assembly, Spector stated he had some extent of skepticism in regards to the request.
“I anticipated they might supply lip service after this factor that occurred,” Spector stated. “However, that’s not what it was.”
Spector stated Entrata executives had been visibly emotional on greeting him at their Lehi headquarters and shared their anguish over “somebody from our group inflicting a lot ache on your group.”
“They requested how they may turn out to be allies of the Jewish group,” Spector stated final January. “They stated they had been right here to take heed to what I needed to say and wished to discover ways to turn out to be allies in battling antisemitism.”
Entrata additionally made an undisclosed donation to Kol Ami, hoping to assist cowl the price of a lot wanted repairs and enhancements on the 50-year-old synagogue, together with a brand new boiler, prayer books and different upgrades.
Adam Edmunds, CEO of Entrata, left, stroll down a staircase with Nico Dato, Entrata’s chief advertising and marketing officer, on the firm’s headquarters in Lehi on Friday, Aug. 12, 2022.
Ben B. Braun, Deseret Information
Spector stated Entrata executives requested that the donation be stored underneath wraps and famous their focus was on learn how to accomplice with the Jewish group.
“That’s what impressed me probably the most,” Spector stated. “We’ve seen earlier than when folks need to make a donation to get themselves out of sizzling water. However Entrata is working proactively to be an ally and so they’re setting an unimaginable instance of how to try this.
“The catalyst for this was an individual doing the fallacious factor, and Entrata is taking the stance of what they will do to be taught and enhance from this. I might encourage each single firm in being equally proactive in saying, ‘We don’t need a Dave Bateman in our group and the way can we fight that early on.’”
Simply six months earlier than the Bateman e mail, Entrata was celebrating a $507 million funding spherical, the corporate’s first infusion of institutional funding and the biggest-ever personal funding spherical for a Utah firm, in response to Entrata.
The spherical was led by Silver Lake, Qualtrics founder and Utah Jazz proprietor Ryan Smith, and Vivint Sensible Dwelling founder Todd Pedersen. Additionally collaborating within the funding was Palo Alto-based HGGC, a non-public fairness agency co-founded by BYU and NFL soccer legend Steve Younger.
In a Deseret Information interview, Younger stated Entrata’s stellar success in addition to Edmunds’ management talents had been main elements in drawing HGGC’s curiosity in investing within the firm. He additionally had nothing however reward for the way Edmunds dealt with fallout from the January incident.
“I’ve obtained to present Adam numerous credit score for creating an atmosphere for therapeutic,” Younger stated. “That’s with the completely different communities in Utah, with workers, with clients ... it shoots in each course.
“Adam’s response was ... a holistic repudiation of what was stated. And a solution and an motion for what the enterprise represents.”
Silver Lake managing director Kyle Paster stated his agency had been following Entrata’s success a while earlier than it led the large funding package deal in 2021.
Paster famous Entrata is the go-to software program platform for enterprise scale multi-family housing operators and had, even earlier than its debut funding spherical, been an organization driving a formidable development arc.
He additionally shared his assist for the way Edmunds and his government group navigated the challenges raised by the founder’s e mail.
“I assumed Adam dealt with the scenario very nicely,” Paster stated. “One in all his group’s unimaginable robust fits is their empathy and talent to attach with folks.”
Adam Edmunds, CEO of Entrata, far left, solutions a query from Deseret Information reporter Artwork Raymond, second from proper, as Nico Dato, chief advertising and marketing officer of Entrata, second from left, and Jacob Moon, of Methodology Communications, proper, throughout an interview at Entrata’s headquarters in Lehi on Friday, Aug. 12, 2022.
Ben B. Braun, Deseret Information
Along with its place as Entrata’s fund chief final summer time, Silver Lake additionally participated within the divestiture of Bateman’s fairness within the firm, which was accomplished in March. And, Paster holds a seat on Entrata’s board of administrators.
Edmunds famous Entrata’s strong development continues and the corporate is now processing some $25 billion in funds from tenants who reside in over 20,000 residence communities throughout the nation which can be managed with the assistance of the corporate’s software program platform. On the time of its funding fund announcement in 2021, Entrata stated it was the fastest-growing software program firm in actual property, with over $200 million in annual recurring income and has over 2,000 workers.
Entrata has additionally constructed out its administration group over the previous year-and-a-half together with including former Podium executives Nico Knowledge, Jason Tyler and Chris Finken in addition to former Xant CEO Chris Harrington, now Entrata’s Chief Income Officer.
Beside its core property administration product, Entrata gives options for pupil and army housing operators and has a brand new product in growth aiming to bolster corporations working to deal with essential reasonably priced housing shortages.
Edmunds stated he believes Entrata will develop to turn out to be the one of many largest corporations to ever launch in Utah and that navigating the problems that arose earlier this 12 months have made him a greater and much more targeted chief.
“If something, I got here out of this sense much more strongly about my aim of main from my coronary heart,” Edmunds stated. “Ultimately, firm constructing is basically in regards to the folks, the shoppers you serve, the individuals who work right here.
“The primary half of my profession was about my very own fame and glory. The second half is about constructing folks up, making the world slightly bit higher place and making Utah slightly bit higher place.”
Adam Edmunds, CEO of Entrata, poses for a photograph on the firm’s headquarters in Lehi on Friday, Aug. 12, 2022.
Ben B. Braun, Deseret Information