Real estate technology firm MoxiWorks announced this week that it has acquired a fellow real estate tech company, Imprev.
As a provider of real estate marketing automation services, Imprev has represented over 20% of real estate agents in North America, according to the company. Its service automates the creation of digital, social media and print marketing materials throughout the lifecycle of a brokerage’s listings. Now acquired by MoxiWorks, the company’s automation will be added to MoxiWorks’ sphere-based CRM, MoxiEngage.
“This unique partnership is highly strategic and benefits Imprev and MoxiWorks’ employees, and most importantly, our collective customers,” said York Baur, CEO of MoxiWorks. “It is in the truest sense, a win-win for everyone.”
According to the announcement, the addition of Imprev furthers MoxiWorks’ mission to become the premier open platform for the entire real estate industry.
“Imprev has always put brokers and agents first. Our focus on customers has been the key to Imprev’s success and was an absolute requirement when selecting the team to take Imprev into the future,” said Renwick Congdon, founder and CEO of Imprev. “In MoxiWorks we found the same entrepreneurial and customer-centric DNA as Imprev and we look forward to seeing our technology continue to scale with the full support of MoxiWorks and Vector Capital.”
This announcement was also made shortly after MoxiWorks’ recent addition of Vector Capital as a “significant financial investor.” Robert Amen, managing director of Vector Capital, shared his thoughts on the Imprev acquisition.
“We are pleased to support MoxiWorks’ acquisition of Imprev as it continues its relentless focus on its customers, client satisfaction, and deep, cross-industry relationships,” he said. “Imprev enhances MoxiWorks’ technology and product offering and furthers the company’s ongoing mission to make real estate technology more automated.”
Through the acquisition, MoxiWorks is bringing on every Imprev employee, the company said. Financial terms of the transaction were not disclosed.