A proptech firm with offices in Australia and the UK is set to go global after it was announced that US trade body the National Association of Realtors has taken a stake in the firm.
ActivePipe is a highly unusual service because it claims to predict when people are going to move home.
This enables sales agents to more easily identify and convert potential buyers and sellers using personalised messages that are sent to their own database of clients.
ActivePipe was established in Melbourne, Australia in 2015 with seed funding of AU$1.8 million. Then in February this year it gained a further cash injection of AU$5.9 Series A funding.
It recently opened an office in the UK and says it already has a significant number of agents signed up here, taking its total in the UK and Oz to 10,000 branches and over 150 companies.
ActivePipe will now join an NAR proptech nurturing programme called REach which includes the trade body taking a stake in the company and offering its service to the NAR’s 1.3 million member agents.
“Past participants of the REach program have gained materially by participation in accelerating their US market presence,” says Ashley Farrugia, CEO of ActivePipe (pictured).
“We hope to take full advantage of the opportunities over the next year.”
ActivePipe is one of eight proptech firms involved in the REach programme this year, but only one of two the NAR has invested in.
Other participants in the programme include a photo editing firm called Box, an online conveyancing portal called RealKey and a hyper-local marketing system called zavvie.