MoxiWorks, a leading real estate technology platform, has announced that Vector Capital, a private equity firm with more than $4 billion under management that specializes in transformational investments in technology businesses, has made a meaningful growth equity investment in the company. Vector Capital, along with existing shareholder-customers Windermere Real Estate, Howard Hanna Real Estate Services and Long & Foster Real Estate, plan to leverage the MoxiWorks platform to accelerate growth and pursue acquisitions.
MoxiWorks is a comprehensive open platform that serves over 80 of the country’s largest residential real estate brokerages representing over 130,000 agents nationwide and accounting for more than 13 percent of real estate transactions in the U.S. The company’s SaaS products include its sphere-based CRM, MoxiEngage, leading CMA product, MoxiPresent, a recruiting system, marketing suite, websites, intranet, and the renowned MoxiCloud open platform. MoxiWorks’ products help brokers, agents and teams increase productivity, lower costs and better manage the home-buying and -selling process.
“We are thrilled to be adding Vector Capital, an experienced investor and premier financial partner, to our unique blend of existing shareholders, partners, and clients as we enter this monumental phase of growth,” says York Baur, CEO of MoxiWorks. “We look forward to using this funding to accelerate development in our industry-leading products, scale sales and marketing efforts, and selectively pursue attractive acquisition opportunities that further fuel our innovation and commitment to remain an independent, open platform for the entire market.”
“We have spent considerable time diligencing the real estate technology sector, looking for an enterprise-grade SaaS platform capable of serving the needs of top brokerages,” says Robert Amen, managing director of Vector Capital. “After meeting with dozens of companies, we determined that MoxiWorks was best positioned to capture this growing market. The company has distinguished itself through a relentless focus on its customers, resulting in extraordinary client satisfaction and deep, cross-industry relationships. We are honored to partner with York and MoxiWorks’ foundational investors to accelerate technology adoption in real estate.”
OB Jacobi, president of Windermere Real Estate, says, “When we spun out MoxiWorks from Windermere over seven years ago, we had a grand vision of advancing the use of technology in real estate, specifically under the idea that a rising tide lifts all boats. MoxiWorks has already accomplished so much as an independent company, and with Vector Capital as a value-added financial partner, the company is poised for its next chapter of growth.”
When asked about this announcement, Hoby Hanna, president of Howard Hanna Real Estate Services, mentions, “When we backed MoxiWorks, we knew we wanted to be a long-term partner. We’re ecstatic Vector Capital shares our vision and look forward to watching MoxiWorks out-innovate the competition.”
“I have no doubt that MoxiWorks will maximize the benefit of Vector Capital joining the ownership group and accomplish great things! We’re excited to partner with MoxiWorks and the three other firms to continue to grow and deliver high value technology products to the real estate market,” says Jeff Detwiler, president and CEO of Long & Foster Companies.
For more information, please visit www.moxiworks.com.
