SmartZip acquires Reach150 and gets financing boost

The predictive marketing company scooped up a fellow NAR tech accelerator graduate
  • SmartZip has acquired Reach150, a company whose referral management system helps agents get referrals through recommendations from past clients.
  • Toba Capital, a Reach150 investor, also made an equity investment in SmartZip to help integrate the companies' products into an expanded platform.
  • SmartZip and Reach150 are both graduates of NAR's tech accelerator program, REach, which requires participants to give NAR an equity stake.

SmartZip has just made a play to boost referrals to real estate agents through recommendations from past clients.The predictive marketing company has acquired Reach150, a company that offers a referral management system.At the same time, a key investor in Reach150, Toba Capital, made an equity investment in SmartZip to help integrate Reach150 and SmartZip's SmartTargeting product and bring the expanded platform to market faster.Terms of the deal were not disclosed. In an equity investment, the investor takes an ownership stake in the firm.Inman reached out to SmartZip for additional information, but the company declined to comment on how much SmartZip paid for Reach150, the amount of Toba Capital's investment, and Toba Capital's ownership stake in SmartZip.SmartZip announced it had raised $12 million in debt financing in September, in addition to $25 million in equity financing it had previously raised, bringing its total funding at the time to $37 million. SmartZ...