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SmartZip acquires Reach150 and gets financing boost

03/11/2017

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SmartZip has just made a play to boost referrals to real estate agents through recommendations from past clients.The predictive marketing company has acquired Reach150, a company that offers a referral management system.At the same time, a key investor in Reach150, Toba Capital, made an equity investment in SmartZip to help integrate Reach150 and SmartZip’s SmartTargeting product and bring the expanded platform to market faster.Terms of the deal were not disclosed. Inman has reached out to SmartZip for additional information.In an equity investment, the investor takes an ownership stake in the firm. SmartZip announced it had raised $12 million in debt financing in September, in addition to $25 million in equity financing it had previously raised, bringing its total funding at the time to $37 million.Avi Gupta”For relationship and referral-based businesses like real estate and lending, the key to efficient customer growth is to target both new prospects and pa…

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