Real estate software company Inside Real Estate announced it has acquired BrokerSumo, a two-year-old commission management cloud software provider for real estate brokers.
In 2016, Inside Real Estate merged with real estate CRM (contact relationship manager) provider Kunversion. The combined companies now operate under the Inside Real Estate brand and led to the integrated platform now marketed as kvCore, which includes lead generation, marketing, CRM and automated dialer features.
BrokerSumo will extend the offerings of kvCore into financial and accounting systems.
“When I saw the new kvCore platform and heard their vision and strategy, I knew we needed to be part of it,” said Jeremy Shoenig, founder and CEO of BrokerSumo, in a statement. “As part of Inside Real Estate, our customers will benefit greatly through more rapid expansion of our product, better support and company stability. kvCore is a powerful platform and a perfect fit for our technology.”
BrokerSumo addresses four major components of running a real estate office, dividing its feature set by agents, transactions, accounting and reporting. The platform has seen substantial growth since its launch, according to the announcement, counting thousands of agents (and hundreds of brokers) as users.
Inman tech reviewer Craig Rowe described BrokerSumo’s core functions and strengths in June, noting that “it excels in managing the minutia of real estate office finances. The software quickly splits commissions, sends invoices, collects fees, connects credit cards and also details every incoming and outgoing penny in a series of robust reporting tools.”
Terms of the deal were not disclosed.