Real Estate Tech Startup Makes Acquisition to Expand Newly Formed Business Unit
Transactly Acquires 360 Home Connect
Story By: Nathan Rubbelke - Reporter
Posted On: March 17, 2022, 01:33pm CDT
Original Article: www.bizjournals.com/transactly-acquires
Transactly, a St. Charles-based real estate technology startup, has expanded a newly launched business unit through an acquisition.
The local company has purchased 360 Home Connect, which is based in Dallas and Austin, Texas, as part of its push into the home connections business. Financial terms of the deal were not disclosed.
Founded in 2017, Transactly provides agents and brokerages with tech-enabled transaction coordinators and services to assist in processing and closing real estate transactions. It says its technology and staff help agents save up to 16 hours of time per real estate transaction. The startup was born out of founder and CEO Bryan Bowles’ experience as the founder of local real estate firm Worth Clark Realty.
360 Home Connect will become part of Transactly’s new business segment called Connect, which focuses on providing homebuyers with a streamlined way to set up home utilities and services. Transactly launched its Connect unit with its September acquisition of Dallas-based home connection services company Cake. Transactly said its push into the home connections market is part of its strategy to offer agents and homebuyers a "fully-connected home-buying experience"
“We welcome the 360 Home Connect team, whose expertise will make Transactly a more prominent player in the home connections industry. Together we empower agents to provide a one-stop home-buying experience for their clients,” said Bowles.
Founded in 2013, 360 Home Connect worked with more than 100,000 clients to provide connections services. Through the acquisition, more than 20 employees of 360 Home Connect will join Transactly.
“We are thrilled to be on board with Transactly, a company that shares our commitment to mind-blowing customer service,” said Chase Harrell, former president of 360 Home Connect. “Together we offer a simpler, smoother homebuying process from contract to move-in. It’s the perfect fit for our clients.”
Transactly’s purchase of 360 Home Connect and the launch of its Connect brand comes as it has experienced rapid growth. It says its revenue more than tripled year over year in 2021, although the company did not disclose specific revenue figures. Since its founding, Transactly has raised $13 million, including a $4 million Series A funding round in October 2021. It has 79 full-time employees and 101 transaction coordinators who are independent contractors.
