Placester, a Boston-based real estate marketing platform, has a new CEO.
Up until this point, the company has been led by its co-founder, Matt Barba, who previously served as CEO.
But now, the company is naming a new president and CEO to help the company grow in its next phase.
Placester announced earlier this week that it is naming Omar Hussain president and CEO.
Hussain joins Placester after 14 years of serving as president and CEO of Imprivata, a healthcare IT security company.
During his time at Imprivata, Hussain led the company to grow to more than $160 million in revenue and helped the company go public in 2014.
Now, Hussain is coming to Placester.
“I’m thrilled to partner with Omar Hussain as we reinvent how Placester enables real estate agents and brokers to efficiently use technology to help their customers buy and sell more homes,” said Barba, who will become the company’s chief technology officer.
“Omar is a product-focused CEO with a proven track record of scaling fast-growing businesses. His experience bringing innovative technologies to the healthcare sector to drive productivity correlates precisely with the digital transformation consumers are expecting of real estate today,” Barba continued.
“Placester led the first wave of digitization in real estate by providing thousands of agents and brokers with the online tools to help their businesses grow,” Barba added. Now it’s time for the next phase of a tech-enabled real estate industry, and Omar is the ideal partner to help us get there.”
Placester has seen significant growth in the last few years, including raising $100 million in capital. The company currently has relationships with more than 550,000 brokers and agents that are using its technology.
“I’m excited to join the team at Placester. Placester represents a unique opportunity in an industry that is undergoing massive technological transformation,” Hussain said. “Matt Barba and I share a common vision of a more connected, efficient, human-centered and technology-enabled real estate market. Placester is well positioned to capitalize on the technology trends impacting the industry.”
Ravi Viswanathan, general partner at New Enterprise Associates, which led Placester’s $50 million capital raise last year and participated in several of the company’s previous funding rounds, said that the company looks forward to seeing what Hussain and Barba bring to Placester in the future.
“Since our initial investment in 2015, Placester’s traction has demonstrated their ability to use technology to empower real estate agents and brokers to grow their businesses,” Viswanathan said. “As Placester continues to accelerate, we’re confident in Omar and Matt’s partnership to drive growth and innovation within the nearly $4 billion real estate software market.”
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