Reapit ANZ, backed by US private equity firm Accel-KKR, has added local real estate software company InspectRealEstate to its portfolio.
The deal, which sees the company’s founders remain shareholders in the combined business, was announced in a press release from InspectRealEstate signed by founders and shareholders Andrew Reece, Mike van Raders and Shaun Mahony.
InspectRealEstate is a property management tool that manages booking inspections, tenancy applications, and key tracking, among other applications.
InspectRealEstate joins the portfolio of companies operated by Reapit ANZ, which includes Agentbox, Agentpoint and Console.
“We have developed friendships with many of our clients over the years, so finding an investor who shares our approach to agents and the property industry was a key factor in our search,” the release stated.
“As IRE’s founders and shareholders, we (Andrew, Mike and Shaun) are keen to see our software and services continue to develop and improve so we want to reassure you that we will continue to work full-time in the business.”
The founders stated that Reapit’s acquisition would expose InspectRealEstate to further opportunities for growth.
“The new opportunity provides IRE with a great platform to fast-track our product development, particularly in the United Kingdom, as well as strengthen our market position in Australia and New Zealand,” they said.
“We want to expand IRE One, TenantApp, KeyWhere, 2Apply and Move Me In around the world and this opportunity brings us global expertise, which is what we’ve been looking for to help our little start-up go worldwide.”
