Industry NewsNews Brief

Fresh capital in hand, Lone Wolf names new CEO

Founder Lorne Wallace will assume the role of executive chairman
  • After serving as Lone Wolf's president for a year, Patrick Arkeveld has been appointed as CEO.
  • Founder and former CEO Lorne Wallace (now executive chairman) is taking on the company's long-term corporate vision and strategic growth initiatives.
  • In addition, Lone Wolf's venture capital backer Vista Equity Partners, a leading private equity firm, is infusing additional investments into the company to drive new business development.

Growth and leadership often go hand-in-hand, and Lone Wolf Real Estate Technologies announced news on both fronts today.

Patrick Arkeveld

Patrick Arkeveld

After spending a year as president of the company refining its foundation for expansion, Patrick Arkeveld will assume the position of CEO. Founder and former CEO Lorne Wallace is taking on the company’s long-term corporate vision and strategic growth initiatives as executive chairman.

“I am very proud of how far we have come, and I’m excited for our next chapter of growth under Patrick’s leadership,” Wallace said in the announcement. “Patrick brings a wealth of operational knowledge in the software industry, and I look forward to working with him and the entire leadership team as we continue to serve our customers.”

Arkeveld comes from the technology sector and formerly served as the president for a division of Constellation Software, a top provider of enterprise management solutions in Canada. While there, he was tasked with expanding the brand in Europe while based out of the U.K.

6 ways empowered agents embrace disruption to drive success
Using technology to generate leads and win listings READ MORE

In addition, Lone Wolf’s venture capital backer since March 2015, Vista Equity Partners, is infusing additional investments into the company to drive new business and product development.

Lone Wolf’s communications coordinator wrote in an email that the company will not be disclosing the value of the investment funds at this time.

“Already a market leader, Lone Wolf is in a great position to build its market presence through innovative products and exceptional customer service, and we look forward to continuing and strengthening our partnership with the leadership team,” said Alan Cline, principal at Vista Equity Partners in an emailed statement. “Lorne has built a very strong business, and we are thankful that he will continue to play an active role.

“Patrick is an exceptional leader, and we look forward to working with him as he guides the company into its next phase of growth.”

Lone Wolf reports working with nearly 10,000 real estate offices and 250,000 real estate agents in North America. In April, the company acquired web marketing and technology solution provider WhereToLive.com to facilitate its vision of a fully integrated real estate office.

Arkeveld added in a statement: “By combining Lone Wolf’s market presence and product expertise with Vista’s increased investment and support, we are helping to shape the future of real estate, and that’s very exciting.

“Our clients always will remain our top priority as we continue to drive innovative solutions, invest in our own infrastructure to improve our ability to serve our customers, and extend our reach across North America in order to better serve the evolving needs of real estate professionals.”

Email Caroline Feeney.

Like me on Facebook! | Follow me on Twitter!