NexPhase Capital, LP (“NexPhase”) is pleased to announce the successful acquisition of Broker Sumo, Inc. (“BrokerSumo” or “The Company”) by Inside Real Estate, a NexPhase portfolio company and leading provider of cloud-based real estate software. BrokerSumo is a leading commission management software provider for real estate brokers. Financial terms of the transaction were not disclosed.
BrokerSumo’s software allows customers to easily manage commission calculations, agent onboarding and billing, transaction payments, and all forms of internal and external reporting. The acquisition will expand the functionality breadth of Inside Real Estate’s kvCORE platform. Inside Real Estate’s customers will now be able to track, coordinate and measure transactions through all financial endpoints using the kvCORE end to end business platform.
“This acquisition gives our users an important component of back-office functionality, which further enhances the complete business platform we have created with kvCORE”, said Ned Stringham, CEO of Inside Real Estate. Jeremy Shoenig, Founder and CEO of BrokerSumo, added “As part of Inside Real Estate, our customers will benefit greatly from a more rapid expansion of our product, better support and company stability. kvCORE is a powerful platform and a perfect fit for our technology.”
NexPhase acquired Inside Real Estate alongside Kunversion in October 2016. The two entities were merged to operate under the Inside Real Estate brand. “BrokerSumo is a highly complementary add-on for Inside Real Estate,” noted NexPhase Vice President, Bob Gartland. “The Company’s software expands Inside Real Estate’s product suite substantially and strengthens the Company’s position in the residential real estate software market.”
Parr Brown Gee & Loveless provided legal counsel to NexPhase and Inside Real Estate on the transaction.
About NexPhase Capital
NexPhase Capital is a sector-focused independent private equity firm that makes equity investments between $25 million and $75 million in lower middle market growth-oriented companies in the consumer, healthcare, industrial services and software sectors. The firm was formed by the former principals of Moelis Capital Partners (MCP) to execute, on an independent basis, the same sector-focused strategy of completing control investments in lower middle market companies to create value through dedicated operating resources, new sales channels and effective partnerships. NexPhase continues to manage the MCP funds and portfolio companies under a sub-advisory agreement. Led by Co-Managing Partners Kurt Larsen and Ted Yun, the firm will continue to manage approximately $872 million of MCP’s legacy private equity capital. For more information, please visit www.NexPhase.com.
About Inside Real Estate
Inside Real Estate provides residential real estate brokers and agent teams a cloud-based software platform and marketing services that help brokers intelligently engage prospective home buyers and sellers, dramatically simplify the buying and selling processes and uses analytics to identify specific actions for improving performance. The company serves thousands of agent teams and brokers throughout the U.S. and Canada. For more information, please visit www.insiderealestate.com.