Manchester tech entrepreneur David Lockie (pictured, left), who was behind IRIS Software Group’s $4bn recapitalisation, has launched investment and operating group Elevare Software Group alongside Elona Mortimer-Zhika (right) with the acquisitions of Rubixx and Voicescape, two leading technology providers to UK landlords.
The deals mark Elevare’s entry into housing, the first of multiple sectors it plans to invest in, as the government drives a decade of renewal for social and affordable housing.
Elevare combines long-term capital, hands-on expertise and an AI-first mindset to help ambitious software and tech-enabled services businesses scale while retaining their identity.
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Backed by Livingbridge, the leading mid-market private equity firm, Elevare draws on Lockie and Mortimer-Zhika’s track record of growing software businesses, including leading IRIS Software Group through its $4 billion recapitalisation, one of Europe’s largest technology buyouts at the time. Rubixx and Voicescape will anchor a new housing technology ecosystem.
Rubixx’s cloud-native housing management platform helps social landlords keep homes safe, meet regulatory obligations and operate efficiently. Founded by Simon Reay, Adam Parker and Michelle Holland, the business is built on open APIs and updated every eight weeks. It supports 40 organisations covering approximately 100,000 properties.
Founded by John Doyle, Voicescape uses behavioural science, data analytics and automation to help landlords engage residents, identify vulnerable households, improve rent collection and evidence compliance. Trusted by more than 135 housing associations and local authorities, its platform covers around four million homes. The acquisition also gives Elevare an immediate foothold at the intersection of housing and public sector technology. The transaction marks a successful exit for BGF, which backed Voicescape in 2023 and has reinvested alongside Elevare to support its next phase of growth.
The launch comes as landlords face growing pressure to improve the quality and safety of homes. Phase 2 of Awaab’s Law extends their responsibilities for addressing hazards, while Universal Credit adds complexity to rent collection. Both are driving demand for technology that supports compliance, efficiency and better outcomes for residents.
Elevare CEO Lockie said: “Too many strong software businesses hit a ceiling, not because the opportunity isn’t there, but because they lack the right support for what comes next. Founders don’t need more theory or financial engineering. They need partners who’ve done it before. Elevare combines that experience with modern engineering, a cloud- and API-first approach and practical AI to remove friction and unlock growth.
“Rubixx and Voicescape are the start of our growing housing technology ecosystem. We’re delighted to welcome both businesses and, together, help realise the sector’s need for modern technology that enables landlords to work more efficiently and deliver better outcomes for residents.”
Elevare will support its businesses across technology, product, go-to-market strategy, finance, mergers and acquisitions, people and culture, and marketing.
Alvarez & Marsal advised Voicescape and Sequence Advisers advised Rubixx on their respective transactions. Terms of the transactions were not disclosed.
