Real estate marketing company Luxury Presence announced Wednesday that it has acquired quality management startup WorkClout.
Luxury Presence said in a statement that WorkClout “provides a quality management platform that helps manufacturers streamline and automate internal audits, document control, visual inspections, training and preventive quality design.”
The company also has experience “digitizing traditionally non-digital industries,” which “aligns well with Luxury Presence’s goal of creating innovative marketing solutions for the real estate industry,” the statement notes.
The statement also points out that WorkClout participated in famed Silicon Valley startup accelerator Y Combinator in 2019 and has raised $2.3 million in a seed funding round.
Financial details of the acquisition were not publicly disclosed.
The statement describes Luxury Presence as a provider of “marketing solutions for agents, brokerages and properties.” Among other things, the company offers agents websites and marketing software designed to draw in luxury clients. In 2020, Luxury Presence raised $5.4 million in a Series A funding round.
Last fall, Luxury Presence launched a referral network for its top-grossing agents. Company founder and CEO Malte Kramer said at the time that the network was designed to increase exposure, specifically among agents who work with high-end properties and thus also with a comparatively small pool of buyers.
In Wednesday’s statement, WorkClout chief technology officer Richard Girges said he has worked with Kramer before and that “the culture at Luxury Presence is one of ownership and trust, and unlike anything I’ve witnessed at any other startup.”
“The same goes for their technology-driven products,” Girges said. “When the opportunity arose to join Luxury Presence and help bring modern technology solutions to the real estate landscape, it was a no-brainer for me. It was part of our M.O. at WorkClout to modernize important industries, and we will continue to do that at Luxury Presence.”
Arjun Patel, WorkClout CEO and co-founder, said in the statement that he will stay on after the acquisition as part of Luxury Presence’s product team. He said he is excited to join the company due to its growth in a short period of time and to its “new set of products and the vision they are building.”