Tracking when private companies are nearing a sale, recap, or financing event has always been a guessing game. With thousands of sponsor-backed firms spread across sectors and geographies, most deal teams are forced to react after the market moves.
Investors, bankers, and service providers struggle to know which private companies are gearing up for a transaction or capital raise. Signals are scattered, opaque, and nearly impossible to track across thousands of PE- and VC-backed businesses.
Dakota centralizes those signals (holding periods, funding rounds, platform acquisition dates, ownership changes, and exit timing patterns) into one predictive transaction-readiness tool. Instead of waiting for headlines, users can see which companies are showing the strongest likelihood of pursuing a sale, recapitalization, or new financing before the market knows.
Below is today’s list of five PE- or VC-backed companies that, based on their hold period, financing stage, and last transaction date, appear to be credible candidates for a sale or next-round raise.
Nothing is guaranteed, but these companies fall squarely within the timing windows where sponsors typically look to generate liquidity or secure additional capital.
Sourced from Dakota Sponsor Backed Companies.
1. QTS Realty Trust
QTS Realty Trust is a leading provider of data center solutions, offering secure and compliant infrastructure services to hyperscale technology companies, enterprises, and government entities across North America and Europe. The company operates over 9 million square feet of mega-scale data center space, delivering robust connectivity and premium customer service through its software-defined technology platform.
- Sector: Real Estate
- Industry: Specialized REITs
- Last known transaction date: Aug. 31, 2021 — acquired by Blackstone affiliates
- Major sponsors/backers: Blackstone Infrastructure Partners / Blackstone real estate vehicles
- Why timing suggests a near-term transaction: As of Dec 2025, QTS is ~4 years 4 months post-platform acquisition—right around (and slightly beyond) the typical ~4-year PE hold period when sponsors often pursue a sale, recap, minority stake sale, or other liquidity event for scaled platforms in high-demand segments like data centers.
2. Watermark Lodging Trust
Everbridge is a global software company specializing in critical event management and enterprise safety applications. Their platform enables organizations to monitor, manage, and respond to critical events, ensuring the safety of people and the continuity of operations. Everbridge serves a diverse clientele, including businesses, government agencies, and healthcare institutions, providing solutions for crisis communication, business continuity, and operational resilience.
- Sector: Real Estate
- Industry: Hotel & Resort REIT
- Last known transaction date: May 2022, acquired by Brookfield Asset Management
- Major sponsors/backers: Brookfield Asset Management
- Why timing suggests a near-term transaction: As of late 2025, Watermark Lodging Trust is ~3.5 years post-acquisition, approaching the typical ~4-year private equity hold period for hospitality operating platforms. In hotel and resort portfolios, sponsors often begin evaluating exit, recapitalization, or portfolio-level transactions in the years leading up to that window—particularly as operating fundamentals stabilize and transaction activity returns in upscale lodging assets.
3. Bungalow
Bungalow is a residential real estate platform that offers beautifully furnished homes and rooms for rent, primarily targeting early-career professionals seeking quality living spaces with compatible roommates. The platform streamlines the rental process by providing matching services, furnishing common areas, and handling rent and utility payments, thereby fostering a tight-knit community for its users.
- Sector: Real Estate
- Industry: Real Estate Management
- Last known funding round: Series C, $75M, announced in August 2021
- Major sponsors/backers: Lennar, Brookfield Property Partners, Founders Fund
- Why timing suggests a near-term transaction: Series C → D transitions for growth-stage real estate platforms typically occur around ~24 months. As of late 2025, Bungalow is ~4+ years post–Series C (August 2021), placing it well beyond the standard venture funding window. For asset-backed residential platforms, this timing often points toward a strategic recapitalization, portfolio sale, minority investment, or M&A rather than another traditional venture round.
4. Roofstock
Roofstock is an online marketplace that enables investors to purchase leased single-family rental homes, providing a transparent and efficient platform for real estate investment. The company offers comprehensive research, analytics, and insights to evaluate and acquire certified properties at set prices, allowing investors to manage their real estate portfolios similarly to stock portfolios.
- Sector: Real Estate
- Industry: Real Estate Management
- Last known funding round: Series E, $240M, announced March 2022
- Major sponsors/backers: Led by SoftBank Vision Fund 2, with participation from Khosla Ventures, Lightspeed Venture Partners, Bain Capital Ventures, Canvas Ventures, Citi Ventures, First American Financial, Expanding Capital, 7GC & Co., JLL Spark, SVB Capital, Masco Ventures, Newton Investment Management North America, Pegasus Technology Ventures, CAZ Investments, Moving Capital, and DoorDash Angels.
- Why timing suggests a near-term transaction: Late-stage real estate platforms typically face a major capital or liquidity event within ~24 months of their most recent round. As of late 2025, Roofstock is ~3.5 years post–Series E, placing it well beyond the typical late-stage funding window. For scaled SFR marketplaces and transaction platforms, this timing often points toward a strategic minority investment, asset-level transaction, or M&A rather than another primary venture round.
5. Flyhomes
Flyhomes is a real estate technology company founded in 2015 by Tushar Garg and Stephen Lane, aiming to simplify the home buying and selling process. The company offers innovative solutions such as 'Buy Before You Sell' and 'Cash Offer' programs, enabling homebuyers to purchase their next home before selling their current one and to make cash-like offers, respectively. Flyhomes operates in multiple U.S. markets, including Seattle, Portland, the Bay Area, Southern California, and Boston, and has facilitated over $6.7 billion in real estate transactions.
- Sector: Real Estate
- Industry: Real Estate Management
- Last known funding round: Series D, $15M, announced July 2025
- Major sponsors/backers: Andreessen Horowitz, Breyer Capital, Fifth Wall, Canvas Ventures
- Why timing suggests a near-term transaction: Late-stage real estate platforms typically reach a strategic or liquidity inflection point within ~24 months of a Series D financing. As of late 2025, Flyhomes is recently post–Series D (July 2025), a stage that often precedes strategic minority investments, consolidation-driven M&A, or structured recapitalizations as companies focus on scaling operations, improving unit economics, and positioning for a longer-term exit rather than pursuing additional primary venture capital.
Use Dakota’s Sponsor Backed Company Intelligence to Spot Likely Exits Before the Market Does
Dakota’s private company data gives you a real-time view into thousands of sponsor-backed companies, including platform acquisition dates, funding rounds, parent sponsors, add-on activity, and sector categorization.
Instead of guessing where companies are in their lifecycle, you can instantly identify which ones are approaching the typical timing windows for a sale or recap.
Fully integrated into Dakota Marketplace, this dataset enables deal sourcers, investor relations teams, and allocators to anticipate transactions, build targeted outreach lists, and stay ahead of market announcements, every single day.
