BrokerageTechnology

Updater raises $45M, plans to acquire 2 companies

Startup's software helps agents streamline moving process for clients

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Updater, whose platform helps real estate agents streamline the moving process for clients, has closed a $45 million funding round and inked agreements to acquire two companies. The startup -- which allows real estate agents to help their customers transfer utilities, update accounts and records and forward mail, among other tasks -- has entered into agreements to acquire IGC Software and Asset Controls Inc. The two firms provide business-management software to moving companies. Updater plans to merge them into an owned subsidiary called MoveHQ Inc., and pair their technology with Updater's existing consumer-facing platform to merge the "entire front-end and back-end of the industry," Updater spokeswoman Jenna Weinerman told Inman. Some of the largest brokerages, lenders and property management companies use a product from Updater to simplify the moving process for customers. Updater represents a success story for the National Association of Realtors' (NAR) push to culti...