Former ASX-listed home relocation company Updater has raised $139 million to fund the acquisition of US home subscriptions commerce platform Bridgevine, understood to value the company at more than $1 billion.

Updater, which was founded in 2010 after chief executive David Greenberg got frustrated with the hassle of moving house, provides a centralised service in the US that makes moving houses easy. It lets movers go to one place to organise the forwarding of their mail, arrange removalists, update accounts and records, transfer utilities and, thanks to Bridgevine, also set up essential services such as internet or home security.