Elm Street Technology, which has been recognized in its home city of Greensboro, North Carolina as a 2020 Top Tech Startup, is expected to use the funds for acquisition and general growth.
The company has a history of empowering product offerings via purchase — or “merger-quistion” as evidenced in its purchase of eMerge, ListingBook and AgentJet.
Elevate is a software product for real estate agents, brokers and teams that provides marketing outreach tools, websites, lead generation and nurturing, agent recruiting tools, website content, and office- and team-based financial oversight.
The press release states that “tens of thousands” of agents use Elevate.
Aqualine is recognized for its portfolio of technology investments, largely based in banking, financial services, software and insurance.
“Aquiline is the perfect partner to help Elm Street Technology accelerate its growth strategy,” President and CEO of Elm Street Technology, Prem Luthra said in a press release. “With Aquiline, we will be able to broaden and accelerate our sales and marketing capabilities, enhance product development and increase our focus on strategic acquisitions.”
The real estate industry continues to be ripe for investment, in both proptech and brokerage services.
Homie, a flat-fee brokerage startup that recently closed on a Series B round, and Houwzer, another flat-free brokerage that was funded $9.5 million in a recent Series A round. Home sales and mortgage applications continue to climb, as well.
Elm Street Technology was founded in 2016.
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