Inside Real Estate, one of the fastest-growing, independently-owned real estate software companies and a trusted technology partner to over 200,000 top brokerages, agents and teams, has announced an agreement in which Lovell Minnick Partners, a private equity firm focused on investments in the global financial services industry, including related technology and business service companies, will become the company’s new primary financial investor, backing their long-term strategy and vision.
The investment comes during a period of substantial revenue growth and sustained profitability over the past several years, along with the addition of hundreds of top brokerages to the Inside Real Estate platform, including two national franchise brands in 2019 alone.
“With their winning strategy and products, Inside Real Estate has built a growing, profitable and scaled business in an industry filled with small-point solution providers,” says John Cochran, LMP partner. “We’ve been following the company’s traction in the space and believe the platform is uniquely positioned for success. We have seen firsthand the powerful impact Inside Real Estate’s products have for its customers by increasing brokerage profitability, driving team and agent success and enhancing business differentiation. We’re thrilled to be backing this exciting business and extremely capable team.”
The leadership team at Inside Real Estate will continue to invest and execute full steam ahead on the company’s strategy and independent vision. When asked about the announcement, Ned Stringham, CEO of Inside Real Estate, commented, “this new partnership provides our customers the continued confidence that Inside Real Estate will remain an independent, reliable and innovative tech partner and support the growth of their real estate business for years to come.”
Stringham also noted, “LMP has an exceptional track record of picking winners. It’s an honor to have their confidence and support.”
The transaction will fuel Inside Real Estate’s continued growth, provide financing for future acquisition opportunities and help create the best environment to attract, develop and retain top talent. GCA acted as an exclusive financial advisor to Inside Real Estate in the transaction. Morgan, Lewis & Bockius served as legal counsel to LMP, while Parr Brown Gee & Loveless served as counsel to Inside Real Estate.
For more information, please visit insiderealestate.com.