Lone Wolf Real Estate Technologies, a provider of residential real estate software, is about to have new leadership at the top of the company.
The Canada-based company announced Thursday that it is promoting Patrick Arkeveld from president to chief executive officer. Current CEO and company founder, Lorne Wallace, is being elevated to serve as executive chairman.
In this role, Wallace will assume an “active role” focusing on strategic growth opportunities, industry engagement, and long-term corporate vision, the company said.
In coordination with this move, Lone Wolf also announced that Vista Equity Partners, a private equity firm and investor in Lone Wolf, is making additional investments in the business to “fuel product development, increase sales, and cultivate customer success.”
Wallace said that he is proud of the work the company has done under his leadership and is looking forward to the company’s future under Arkeveld.
“I am very proud of how far we have come, and I’m excited for our next chapter of growth under Patrick’s leadership,” Wallace said. “Patrick brings a wealth of operational knowledge in the software industry, and I look forward to working with him and the entire leadership team as we continue to serve our customers.”
Arkeveld joined Lone Wolf last year as the company’s president, and the company is highly complimentary of his time in that role, stating in a press release that Arkeveld “transformed Lone Wolf’s talent acquisition strategy, championed business systems and best practices to drive analytical rigor to the company’s go-to-market approach, and formalized the product management function to increase market-driven focus.”
Arkeveld brought years of experience in the technology sector to his role with Lone Wolf.
In his career, Arkeveld moved up the ranks at Jonas Software, a division of Constellation Software Inc., from managing director of international operations to director of operations to president in a four-year span.
Arkeveld also brought experience at the presidential level for both Jonas Software and the Canadian Ski Council to Lone Wolf.
“By combining Lone Wolf’s market presence and product expertise with Vista’s increased investment and support, we are helping to shape the future of real estate, and that’s very exciting,” Arkeveld said. “Our clients always will remain our top priority as we continue to drive innovative solutions, invest in our own infrastructure to improve our ability to serve our customers, and extend our reach across North America in order to better serve the evolving needs of real estate professionals.”
Lone Wolf said that the additional capital from Vista Equity Partners will allow the company to grow its offerings and its customer base.
“Already a market leader, Lone Wolf is in a great position to build its market presence through innovative products and exceptional customer service, and we look forward to continuing and strengthening our partnership with the leadership team,” said Alan Cline, principal at Vista Equity Partners. “Lorne has built a very strong business, and we are thankful that he will continue to play an active role. Patrick is an exceptional leader, and we look forward to working with him as he guides the company into its next phase of growth.”