London, UK – March 4, 2021 –
Reapit, backed by private equity firm Accel-KKR (AKKR), today announced that they have completed the acquisition of Agentpoint PTY Limited, the largest provider of real estate agency websites and lead generation technology in Australia.
Agentpoint was founded in 2001 and is a leading industry supplier of estate agency websites and lead generation technology for real estate professionals, offices, large network groups and start-ups. Over the past 10 years they have serviced more than 23,000 agents, built nearly 2,000 websites for Australian real estate professionals and in 2019 alone helped estate agents create more than 11,000 digital proposals using their ProposalPoint solution.The company has continued to invest heavily in product development over recent years, extending their digital marketing product range to include powerful tech that drives, captures, tracks, and converts leads with the agents’ CRM and website at their core.
Meschell Howarth, General Manager at Upstate Property Group, a client of Agentpoint, commented: “Using Agentpoint created significant efficiencies for us. Their knowledge of the real estate industry and all the add-ons that they offered as part of their product suite helped us to not only create a website that is a perfect for our agency, but also shaved months off the project had we decided to work with a website company that had to be brought up to speed first.”Reapit provides market-leading software solutions to over 33,000 users in 4,500 offices and manages more than 200,000 tenancies across the UK and Australia.
The company continues to gain a strong foothold in the Australia and New Zealand market, which started with the acquisition of Agentbox in 2018. The addition of Agentpoint into Reapit’s product portfolio will provide Reapit customers access to an even wider choice of world-class solutions, giving them the competitive edge in a fast-evolving market.
Mark Armstrong, CEO, Reapit, stated, “I am delighted to confirm that the acquisition of Agentpoint is complete. Integrating their outstanding product portfolio with our current market-leading offer greatly facilitates our mission to provide estate agencies in the UK and Australia with the most comprehensive and innovative range of PropTech solutions, all under one roof.
“The property market is currently going though unprecedented change and the residential estate agency market is therefore adjusting at pace to the new demands.
As a trusted PropTech partner, we have a duty of care to our customers, present and future, to deliver best-in-class solutions that will see them through these times, thriving and growing. Acquiring Agentpoint reaffirms our commitment to estate agents that we will never stop delivering leading solutions that match the effort they put into growing their agencies.
”Ryan O’Grady, CEO, Agentpoint, added, “All of us at Agentpoint are incredibly proud of the services we’ve been able to provide for our customers in the 19 years since the company’s formation.
We now look forward to extending our award-winning product range to Reapit’s international customer base.”
Park Durrett, Managing Director of Accel-KKR and a member of Reapit’s board of directors commented, “We are pleased to support Reapit with their acquisition of Agentpoint.
The addition of Agentpoint into Reapit’s product portfolio further illustrates their position as a market leader in the UK and Australia, providing estate agencies with an enhanced suite of solutions to facilitate their strategic goals.”
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Founded in 1997, The Reapit Group is a CRM and Client Accounting software provider specialising in the residential real estate sector. Bringing 20 years of innovation to the property market, their award-winning software provides everything estate agents need to run and grow their businesses, from sales to lettings, front office to back office, and everything in between. Reapit’s Agency Cloud and Property Cloud software products include the Sales and Lettings CRM, Property Management and Client Accounts; supported with powerful Analytics and Online solutions. The driving force behind Reapit’s ethos is a commitment to bring all an agency’s data together for a single customer view, and together with its powerful service and training model, the company has helped to grow leading brands. The Reapit open platform partner program is at the hub of a PropTech ecosystem delivering tested solutions and increasing choice of tools for agents. Together, the group provides software solutions to thousands of users worldwide, managing more than 200,000 tenancies across more than 4,500 offices throughout the UK and Australia. For more information, please visit www.reapit.com.
About Accel-KKR (AKKR)Accel-KKR is a technology-focused investment firm with $10 billion in capital commitments. The firm focuses on software and IT-enabled businesses well-positioned for top-line and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value through significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across a wide range of transaction types including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR is headquartered in Menlo Park with additional offices in Atlanta and London. For more information, please visit www.accel-kkr.com