Brokerage-owned real estate tech startup MoxiWorks announced Thursday it’s received “a meaningful growth equity investment” from private equity firm Vector Capital. Together with part owners Windermere Real Estate, Howard Hanna Real Estate Services and Long & Foster Real Estate, Vector Capital plans to help MoxiWorks accelerate growth and pursue acquisitions.
“We are thrilled to be adding Vector Capital, an experienced investor and premier financial partner, to our unique blend of existing shareholders, partners, and clients as we enter this monumental phase of growth,” York Baur, CEO of MoxiWorks, said in a statement.
“We look forward to using this funding to accelerate development in our industry-leading products, scale sales and marketing efforts, and selectively pursue attractive acquisition opportunities that further fuel our innovation and commitment to remain an independent, open platform for the entire market.”
MoxiWorks is a real estate tech platform — including a customer relationship management tool, transaction manage platform, marketing suite, websites and intranet among others — that says it serves more than 80 brokerages, represents more than 130,000 agents nationwide and accounts for 13 percent of real estate transactions.
Robert Amen, the managing director of Vector Capital said his firm spent a considerable amount of time looking for an enterprise-grade software-as-a-service platform capable of serving the top brokerages.
“After meeting with dozens of companies, we determined that MoxiWorks was best positioned to capture this growing market,” Amen said. “The company has distinguished itself through a relentless focus on its customers, resulting in extraordinary client satisfaction and deep, cross-industry relationships.”
MoxiWorks declined the reveal the amount of the financial investment.