Realty portal Housing.com on Sunday announced the acquisition of HomeBuy360, a cloud-based customer relationship management software firm, for $2 million.
This is the third acquisition the Mumbai-based firm is making in 2015. Earlier this year, the company had acquired risk management and analytics firm Realty Business Intelligence and Indian Real Estate Forum, a platform providing property information to consumers.
Founded in 2011 in Bengaluru by Rajat Kothari, Kshitij Minglani and AK Gururaj, HomeBuy360’s cloud-based sales lifecycle management platform connects developers, agents and buyers and helps to track inventory and manage customer relations in an efficient manner.
Housing.com CEO and COO Rishabh Gupta said, “Our vision is that every developer uses HB360 to bring down their sales and operating costs. This will help in reduction of property prices eventually benefitting the consumers.”
This will help reduce costs for 20,000 plus developers in the realty ecosystem. This acquisition will also fortify Housing.com’s Data Science Lab (DSL) with rich data on inventory and transactions in the real estate sector, the company said in a statement.
Commenting on the partnership, Rajat Kothari, founder and CEO, HomeBuy360, said, “With less than 10% of developers currently using CRM for their back end and customer connect operations, we have a huge market opportunity ahead of us”.
In July, Housing.com had fired its co-founder and former CEO Rahul Yadav citing bad behaviour towards investors, partners and the media. The company had raised $90 million last year through private equity infusion from SoftBank Group along with Falcon Edge and other existing investors. SoftBank has over 30% stake in the company.