Knock, a Seattle software program startup that helps condo property managers, can be acquired by RealPage, an actual property big backed by Thoma Bravo that additionally supplies expertise companies. Phrases of the deal weren’t disclosed.
Knock helps condo property managers handle advertising and marketing, gross sales, CRM, retention, efficiency administration, predictive analytics, applicant screening, and reporting. Its merchandise can be utilized with present property administration software program techniques and different communication and productiveness apps.
The corporate noticed elevated exercise because the pandemic accelerated adoption of tech companies comparable to digital condo excursions and digital communication with prospects and tenants. Knock lately surpassed two million items served on its platform.
“Speechless. Practically a decade after our journey started we’re thrilled to complete this chapter and start a brand new one,” Knock CEO and co-founder Demetri Themelis mentioned in a LinkedIn submit.
Knock, initially referred to as ZipDigs, was co-founded in 2014 by Themelis and Tom Petry, two College of Washington grads who beforehand labored collectively at UBS Wealth Administration. The entrepreneurs have been annoyed with the leasing course of, particularly with how troublesome it was to speak with landlords. Jay Zeng, the corporate’s different co-founder, left in April 2018.
The corporate had raised $47 million from traders together with Fifth Wall, Madrona Enterprise Group, Lead Edge Capital, Second Avenue Companions and Seven Peaks Ventures.
M&A exercise dropped considerably within the third quarter, pushed by a variety of elements together with public inventory market declines and rising rates of interest, Axios reported Friday.