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Agentbox announces AUS/NZ proptech acquisition strategy

December 2nd, 2020

Sydney, AUS — December 2, 2020 – Agentbox and Accel-KKR have today announced a strategic expansion and acquisition strategy in the Australian and New Zealand proptech market with the goal of doubling in size within two years. To support their global expansion plans they have announced two significant new senior appointments in the Group.

Accel-KKR (who acquired Agentbox in 2018 for the Reapit Group) is a Silicon Valley based technology-focused investment firm with over US$10 billion in capital commitments and top decile returns.

Agentbox is the dominant CRM Solution in APAC, with proven technology in dynamic prospecting, principal focused ROI and reporting, sales administrator systems and full mobile functionality for on-the-road agent support. REB-Top100-2019 recognised Agentbox as “the runaway winner in the CRM-wars in 2019” and during 2020, usage has grown from 40 percent to more than 60 percent of the Top 100 Agents using Agentbox.

Eddie Cetin, Chairman of Agentbox said today, “We are now strongly focused on the acquisition of Australian and New Zealand proptech software businesses that are well-positioned for top-line and bottom-line growth, backed by a world-class financial and strategic partner in Accel-KKR.

As we continue to expand our market footprint and acquisition strategy to rationalise the proptech market, we have also expanded the team in Sydney with the appointment of Simon Cashman as General Manager, Asia-Pacific (APAC) bringing over 20 years of experience in proptech and agency frontline.” This appointment will allow Cetin to spend more time delivering an ambitious M&A strategy.

In another new appointment to the Group, following a focused search commenced jointly between the Reapit Board and Accel-KKR, it was recently announced that Mark Armstrong has accepted the position as the Reapit Group’s next Chief Executive Officer, effective January 2021. Armstrong brings over 30 years of experience in the enterprise IT industry to Reapit, having worked in senior leadership roles in diverse sectors including enterprise application support, application development, software-as-a-service and business process management, across EMEA and APAC.

Park Durrett, Managing Director of Accel-KKR stated, “We are delighted with the success of our Australia and New Zealand portfolio businesses and are actively investing in the region. Since 2017 when we backed Reapit, the APAC business has grown significantly through organic growth and M&A. We are continuing to make significant investments in Agentbox, including a funded strategy in the New Zealand market.”

ENDS

Media Enquiries:
Agentbox Chairman, Eddie Cetin
eddie.cetin@agentbox.com.au
+61 2 8999 3370

Reapit Group, Sandra Pretorius
spretorius@reapit.com
+44 7714 739032

About Agentbox
Agentbox has achieved #1 CRM status for 7 years running and as the platform of choice for Australia’s leading agents is quoted by the REB-Top100-2019 report as “the runaway winner in the CRM-wars in 2019” and during 2020, usage has grown from 40 percent to more than 60 percent of the Top 100 Agents using Agentbox.

With its industry-leading data management and market-leading mobile solution, Agentbox’s CRM database and powerful software is unmatched for ease of use, speed and depth of functionality, saving agents hours each week, improving their efficiency, and accelerating their sales performance. For more information, please visit www.agentbox.com.au

About Reapit
Founded in 1997 in the UK, The Reapit Group is a CRM and Client Accounting software provider specialising in the residential real estate sector. Bringing 20 years of innovation to the property market, their award-winning software provides everything estate agents need to run and grow their businesses, from sales to lettings, front office to back office, and everything in between. Reapit’s Agency Cloud and Property Cloud software products include the Sales and Lettings CRM, Property Management and Client Accounts; supported with powerful Analytics and Online solutions. The driving force behind Reapit’s ethos is a commitment to bring all an agency’s data together for a single customer view, and together with its powerful service and training model, the company has helped to grow leading brands. The Reapit open platform partner program is at the hub of a proptech ecosystem delivering tested solutions and increasing choice of tools for agents. Together, the group provides software solutions to thousands of users worldwide, managing nearly 180,000 tenancies across more than 4,500 offices throughout the UK and Australia. For more information, please visit www.reapit.com.

About Accel-KKR (AKKR)
Accel-KKR is a technology-focused investment firm with $10 billion in capital commitments. The firm focuses on software and IT-enabled businesses well-positioned for top-line and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value through significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across a wide range of transaction types including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR is headquartered in Menlo Park with additional offices in Atlanta and London. For more information, please visit www.accel-kkr.com

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