“We are not far off opening up a Series A funding round to seriously set up in the US and expand across different geographical locations across the UK,” ActivePipe CEO Ashley Farrugia said.
“From what we’ve seen in our extensive research in UK and US markets, our product fit in those markets is exciting. It’s not dissimilar to here as far as tech goes. We are globally unique.
“Whether you’re a realtor in San Francisco or a principal or agent in Australia, the principle of finding a seller or buyer accommodates to that. There are differences in ecosystems but fundamentals are the same. We’ve got clients in the UK using the platform and the feedback thus far is amazing.
“Our focus is on the US market predominantly as we see a huge opportunity based on it being a SAAS-savvy (Software as a service) market. It’s exciting for us to be into that market as it’s scalable on an online level rather than account management.”
Launched in 2015, ActivePipe helps real estate agents and brokers identify and convert potential buyers and sellers. The technology uses behavioural and interactive-based algorithms to profile contacts and determines intent before automating communication with property information and call-to-actions relevant to their needs. The aim is to identify which of an agent’s contacts are ready to buy or sell.
Part of ActivePipe’s innovative technology is the use of intent data which uses trends to identify potential buyers and sellers to alert the agent who can follow up the lead.
“We are all about what’s going to happen based on trends. If someone is interacting with ActivePipe content in a similar way to someone who just sold a property, we identify those things and alert the agent. Whether you’re in US or UK or Asia, we can identify someone behaving as a seller. We are trying to give an agent the data way before a person is thinking of actually buying and selling.
“The technology uses a combination of trending and actual physical algorithms behind lead scoring. You might live on 1 Smith Street but we can identify that you’re interacting with sold properties that are 1 bedroom and 3 bedrooms. From that, we can see that you’re not only a potential seller but potentially an upsizer as well,” Mr Farrugia said.
ActivePipe was also recently recognised as an ABA 100 Winner in the Technology Innovation, Software Innovation and Marketing Innovation categories of the prestigious Australian Business Awards 2017.
Mr Farrugia stresses the impact of a great team in building innovative technology.
“The culture and the team building side of things is what helps build innovative technology. I think teams disrupt, not products.”
The ultimate goal is to also have presence in Asia and mainland Europe.
“At this point we’ve proven our business model in Australia and NZ with significant growth in a two-year period working with the biggest brands in those two countries. We believe we can do the same in the UK and US. In the next two years we will focus on proving we are globally scalable as a business. The prospect of Asia and Europe is exciting, but we don’t want to get too ahead of our ourselves and will focus on the UK and US markets first.”
Photo: Ashley Farrugia (front) and his team
