Melbourne-based, real estate-focussed marketing automation platform ActivePipe has announced IAG and the National Association of Realtors are among investors into the ActivePipe +$6M Pre-Series B Convertible note round.
The investment comes ahead of a Series-B round planned for late 2019, as ActivePipe continues to expand in the US, and additionally explores commercialisation opportunities outside of the Real Estate Agent/Broker market.
The investments are part of an over-subscribed Bridge round that also has follow-on investment from ActivePipe’s current Australian strategic investors NAB Ventures and PieLAB Ventures.
ActivePipe CEO, Ashley Farrugia said the company was delighted to have IAG’s Firemark Ventures, and the National Association of Realtors’ venture arm, Second Century Ventures (SCV), on board.
“We are thrilled to have both IAG and SCV join us on the ActivePipe journey. Support from two major strategic investors furthers our ambitions to expand the ActivePipe distribution into two new markets, Insurance and the US.
IAG’s Chief Customer Officer, Julie Batch said IAG had been impressed with the value ActivePipe was delivering through its millions of interactions with property buyers and sellers each month.
“Together with ActivePipe we will explore commercial opportunities with the potential to influence the future of insurance,” she said.
Meanwhile, CEO of the National Association of Realtors and President of Second Century Ventures, Bob Goldberg said the company had recently invited ActivePipe into their REACH Accelerator Program in 2018 and witnessed the enthusiasm with which US brokerages embraced the ActivePipe platform.
This gave Second Century Ventures the confidence to back the firm in the next stages of its journey, he noted.
“With the successes already beginning to add up, we believe ActivePipe has the potential to become a critical component of the technology revolution underway within real estate brokerages in the US,” Mr Goldberg said.