Lettings software specialist TouchRight has been sold to proptech platform Plentific for an undisclosed sum.
The York-based company, which was founded in 2012 by husband and wife team Terry and Rachel Lightfoot, enables agents to create a host of bespoke property inspection reports, including inventories, midterms, check-ins, check-outs, HMO and Legionella Risk Assessments with a few simple clicks.
Its new owner, Plentific, is one of Europe’s big proptech firms backed with £72 million from various venture capital backers in August last year.
It is a leading provider of residential property repairs and maintenance software, which ToughRight will now be integrated into, enhancing Plentific’s app-based service.
Reporting capabilities on asset conditions, inventories and safety checks, for example, will become more robust, in addition to providing an end-to-end workflow from identifying issues to be addressed to delivering necessary works via its nationwide contractor marketplace, driving further operational efficiencies for clients.
Plentific is used by the big housing providers such as L&Q, Peabody, and Notting Hill Genesis in the UK, although the company manages more than 400,000 properties across the UK, Germany and USA.
Rachel Lightfoot (pictured, above) says: “We are excited that Plentific will now take TouchRight on the next stage of its journey. This is a great move for all parties, and our existing customers will benefit from a great deal more functionality as part of the Plentific platform.”
Cem Savas (pictured), CEO and Co-founder of Plentific, says: “We’ve had a phenomenal year of growth, with a Series C funding round helping us more than double headcount to over 200 employees and empowering us to build more client services.
“We have only just scratched the surface of a $2.5 trillion potential market opportunity, and the acquisition of TouchRight will enhance our service to landlords and better enable us to capitalise on this potential.”