Australian proptech companies

Based in Australia, PropTech Group will expand MRI's suite of tools for buying and selling homes


MRI snaps up resi tech company in $93m AUD deal

Perennially acquisitive real estate innovation business MRI Software has agreed to buy PropTech Group, an Australia-listed residential tech company.

The acquisition will “complement and strengthen” the MRI Living suite of tools for residential sales and property management, MRI said in its announcement.

Operating primarily in Australia, New Zealand and the UK, PTG’s portfolio of products automates and simplifies a range of services in the residential sector, including:

  • Customer relationship management: VaultRE, VaultEA and EagleCRM manage sales and listings, rentals, and contacts
  • Property investment and insights: Real Estate Investar locates, compares, and analyses property investment opportunities
  • Property inspections: RentFind Inspector simplifies property inspection and condition reporting
  • Marketing automation: Designly automates marketing and SocialEazie offers automated social media marketing for real estate
  • Agent and agency website: WebsiteBlue is a web design and development service and PropSEO offers search engine optimisation services.

David Bowie, managing director and senior vice president, APAC, at MRI, said: “The business of finding, buying, selling, renting and investing in property comes with the same complexities as any advanced industry – and needs the right technology to enable its potential.

“A combined MRI and PTG will be well-equipped to help modern real estate agencies respond to changing consumer expectations and market dynamics.”

MRI’s month of announcements

The PTG deal caps off a busy month of acquisitions, hires and product launches for MRI.

At the start of October, MRI acquired UK-based retail footfall analytics tool Springboard for its MRI @Work product. The tool measures visitor activity, captures anonymised demographic and sentiment data and analyses behaviour patterns.

In South Africa, MRI took over TPN Group, a registered credit bureau that serves the residential, commercial and education markets across the country. Explaining the acquisition, MRI said that, amid global economic uncertainty, there is strong demand for “accurate, detailed tenant profiles” to support decision-making, which TPN provides.

The company went on to hire a global chief people officer – Susan Avelluto – to help it attract talent in the proptech sector, following the appointment of a managing director for Canada weeks earlier.

All these announcements culminated in the company unveiling its new platform, MRI Agora, which allows users to connect lots of different products and their data in one place in the name of efficiency and better insights.

Saurabh Abyankar, chief product officer at MRI, said: “Developed with an AI-first approach, the MRI Agora platform brings a brand-new real estate data platform, engaging user experiences, and connected services.

“Every industry eventually matures from using multiple disconnected point solutions to a go-to platform of choice. The OS wars ended with MacOS and Windows, the CRM wars ended with, and the cloud wars ended with Azure and AWS.

“It’s time for the entire proptech industry to adopt a platform that is smart, open, and hyper-connected – where technology from any provider, including MRI, our partners, third parties, and even our competitors – can connect together to enable innovation.”

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