A little more than a month after acquiring utility connection company Cake, transaction technology company Transactly has acquired 360 Home Connect to further expand its Connect brand line of services. The financial details of the deal were not disclosed.
St. Louis-based Transactly offers the real estate industry a solution for outsourcing transaction coordination, helping brokers reduce in-house staff with dedicated, tech-enriched experts. Transactly also provides its technology directly for offices wanting to keep the process in-house.
Brokerages can opt to use Transactly’s software at no charge or leverage its network of professionals at costs ranging from $125-$350 per deal.
Founded in 2013, 360 Home Connect has offices in Dallas and Austin, Texas. It has helped more than 100,000 homeowners integrate utility services, internet providers, security companies and other related services, according to Transactly’s statement.
Similar to Transactly, the company’s model relies on in-house staff to work personally with customers to complete account setup and service connections.
“We are thrilled to be on board with Transactly, a company that shares our commitment to mind-blowing customer service,” Chase Harrell, former president of 360 Home Connect, said in the announcement. “Together we offer a simpler, smoother homebuying process from contract to move-in. It’s the perfect fit for our clients.”
Transactly has grown quickly since launching with two employees in 2018. It now has 79 staff and more than 100 transaction coordinators as independent contractors, having raised $13 million in investor funding.
It was founded by CEO Brian Bowles, who said that 360 Home Connect will make his company “a more prominent player” in the home connections category of proptech.
“The challenge for real estate professionals, and ultimately homebuyers, has been a lack of infrastructure to support how people facilitate real transactions across the industry,” said Bowles in a statement. “Together we empower agents to provide a one-stop homebuying experience for their clients.”
Streamlining transaction management has become increasingly important for real estate brokerages as the market has become more dependent on the efficiencies technology offers the consumer, from home search and remote tours to offer submission and remote online notarization. While lack of inventory is slowing sales, listings that do become available are often snapped up in hours.
Consumers are expecting a modern, tech-forward user experience for all aspects of business without loss of attention or service. Bowles said Transactly does just that without elbowing-out the all-important agent.
“Purchasing a home is an immensely personal experience. Homebuyers have relationships with the agents, lenders, and title companies in their communities,” he said. “Transactly doesn’t replace any of those roles, but instead makes it easier for all those participants to work together for a better homebuying experience.”