Silicon Valley-based Proxio will move to Spokane, Washington, where TourFactory is based. Proxio CEO and co-founder Janet Case will serve as Collabra Technology’s CEO. TourFactory founder Anne Sperling will serve as Collabra Technology’s chief visionary officer.
“Putting the two companies together gives us the size, capacity and reach to take what we’ve done for the real estate industry and do more than that. It helps us deliver the platform into new industries where it’s just as needed as this one,” Case told Inman in an interview.
The Proxio and TourFactory brands won’t disappear. Both companies are keeping their branding and creating a new parent company.
The merger closed March 15. The companies declined to disclose the financial terms of the merger.
The merger came about after Proxio’s and TourFactory’s teams discussed an integration between their two platforms. Proxio’s digital marketing and sales platform engages sales teams and real estate agents as part of the marketing process. The company works globally across France, Mexico, Colombia, Brazil and India.
TourFactory provides photography, video and other raw content for marketing — something Proxio doesn’t offer. Clients had asked Proxio about adding features to provide those services, Case said.
A large part of the merger will be taking TourFactory’s offerings international through Proxio, making raw content like video available for Proxio customers and offering these platforms in industries outside real estate.
The first industries the new combined entity will pursue are adjacent real estate industries like commercial real estate and rentals. Any other industries that heavily rely on a visual component for sales will come next: yacht sales, classic cars, tractors, used farm equipment. Collabra won’t be creating as detailed a platform as its two components offer for real estate for all these industries, but will instead offer its existing platforms to new customers.
For customers in the real estate industry, the changes won’t be quite as big. The platforms will still look the same but will offer more features between the two former companies. Proxio’s customers like Coldwell Banker Global Luxury and Lennar, for example, can still receive the same service if they choose.
“We will continue to service the real estate industry,” Case said. “That is our base.”