Kunversion and Inside Real Estate Combine to Become Leader in Broker and Team Software Solutions

Inside Real Estate and Kunversion announced today that they completed a transaction to combine their businesses. They will operate under the Inside Real Estate name with Kunversion becoming the brand for their marketing and sales software platform. The combined business becomes a leader in marketing and sales software for residential real estate agent teams and brokers.

Kunversion brings its leading software platform and marketing solutions delivered to agent teams and brokers while Inside Real Estate adds unique capabilities for larger brokers, including seamless integration with transaction systems, full marketing and sales lifecycle tracking and analytics, and other emerging enterprise features.

The acquisition comes after a flurry of recent product releases from both companies, including a new CRM mobile app, Facebook lead generation tools, advanced lead routing and agent management capabilities, and integration with other industry solutions including Dotloop, SkySlope and BrokerMint transaction management systems.

Because both companies operate with common technologies, integration of their software solutions will be a seamless transition. In fact, substantial integration steps have already been completed, allowing customers to begin taking advantage of the broader functionality of the combined platform. The integrated Kunversion platform will be capable of serving the unique needs of small agent teams all the way up to large, multi-region, multi-office brokers.

Justin Tracy, founder of Kunversion, spoke about the combination: "We couldn't be happier to have found a partner that has the capacity and experience to take Kunversion to heights considered unachievable by the current leadership. We now have the infrastructure and funding to not just play with the big boys, but to truly take the lead in the real estate CRM marketplace." Mr. Tracy will be the Chief Technology Officer of the combined business.

"We have a lot of respect for what the Kunversion team has accomplished," said Inside Real Estate founder and Chief Revenue Officer, Joe Skousen. "We're very excited to break down barriers between smaller, limited team solutions and antiquated enterprise platforms. We are aggressively bringing teams, brokerages and enterprise companies the strongest, most integrated solution on the market."

The combined leadership team will be headed by Chief Executive Officer, Ned Stringham. Stringham has a strong track record of successfully building sales, marketing and cloud-based software businesses and also acts as an Operating Partner of NexPhase Capital, as well as being the principal owner of 42 Ventures, which has been successfully investing in vertical software businesses over the last decade. Both NexPhase Capital and 42 Ventures made significant equity investments in the combination of Kunversion and Inside Real Estate.

Bob Gartland, Vice President of NexPhase Capital said, "This opportunity fits squarely within NexPhase's software investment strategy. We are constantly seeking investments in growing B2B software businesses with industry-leading technology platforms and proven management teams. We have a high degree of conviction in the company's ability to be the leading integrated marketing and sales software platform serving the residential real estate market via organic and inorganic means."

Pacific Crest Securities, a division of Keybanc Capital Markets Inc., served as financial advisor to Kunversion.