The acquisition news arrived just one week after Buildout revealed it had also acquired ProspectNow, a provider of AI-powered real estate property and owner intelligence.
Chicago-based Buildout offers marketing and customer relation tools specifically for commercial real estate firms. These offerings can range from simplifying listing platforms, property inventory plugins, email marketing campaigns and back-office software for payments management.
Founded in 2010, Buildout’s bread-and-butter is its core marketing automation software. CRE companies can enter listing data once and it instantly updates everywhere – marketing materials, websites, proposals, emails, and third-party listing sites all keep track.
With a new acquisition under its belt, Buildout is planning to beef up its operations with the addition of Apto’s real estate broker software. Much like Buildout’s CRM offerings, Apto gives brokers access to contact management and prospecting tools, a deal management platform and a property database – which, will be integrated with Apto’s current solutions.
“The Apto team has demonstrated an impressive level of CRE broker intimacy with the solutions and business that they’ve built,” said Kirk Ziehm, CEO of Buildout. “By joining our two companies, together we’re taking a big leap into the future and realizing our shared vision of how brokers will operate at the center of CRE in the future.”
In 2020, the Riverside Company, a global private equity firm, invested in Buildout at an undisclosed amount. Previously, Buildout started with a $300,000 seed investment in 2013 and secured an $8 million Series A investment from continuing partners Susquehanna Growth Equity.
Roughly three months after Riverside made its strategic investment, Buildout appointed Kirk Ziehm as the company’s new CEO, succeeding Buildout founder Vishu Ramanathan.
According to the proptech, Apto’s technology will complement Buildout’s February 2021 acquisition, Rethink – another CRE optimized CRM solution provider.
“Not only are their markets and solutions complementary, but also the Apto, Rethink and Buildout teams share a vision and passion for delivering a world-class, full-lifecycle CRE broker deal-acceleration platform,” said Riverside Managing Partner Loren Schlachet.