Five years since its founding, Elm Street Technology is building momentum aggressively.
In partnership with Aquiline Capital Partners, a New York- and London-based private investment firm with $6.1 billion assets under management, the Frisco-based PropTech has adopted what it calls an “aggressive growth acquisition strategy.” It’s acquired a total of eight high-performance companies already, and aims to maintain its steady organic growth. The acquisitions include DX Broker, eMerge, AgentJet, Listingbook, RLS2000, and Consolidated Knowledge.
In January alone, Elm Street acquired Flow ROI, a provider of real estate transaction management software, and VoicePad, a provider of new client acquisition and telecom solutions for real estate brokerages and their agents.
The entire leadership team, according to President and CEO Prem Luthra, is now hyper-focused on corporate growth, market leadership, and serving its customers.
Elm Street’s Elevate Platform
Elm Street is a provider of residential real estate technology and digital marketing strategies. Its intent is to maximize real estate professionals’ business efficiency with one vendor and one point of contact via a singular platform: Elevate.
Elevate’s goal is to turn more leads into closed business. With the technology—marketed under the tagline “the power of productivity”—real estate professionals are able to streamline and automate their marketing and day-to-day objectives. Elevate houses high-end IDX websites, lead generation tools, a CRM, email, social, text and blog marketing automation, recruiting and retention tools, and more.
Elevate is currently used by tens of thousands of real estate agents, teams, and brokerages across the U.S. and Canada.
Elm Street’s acquisition-based approach allows it to continue growing Elevate’s capabilities to offer a more robust solution to the real estate community.
Flow ROI, for instance, added transaction management to Elevate’s solutions portfolio. It was a tool that customers had been asking for, according to Luthra.
“After extensively evaluating companies and software in this space, Flow ROI was the clear choice in terms of functionality and user experience,” he said. “This acquisition continues our mission to bring the best technology, leaders, and teams together under one singular corporate vision to provide a simplified, streamlined solution to our real estate community.”
New Elm Street Appointments
To continue scaling, Elm Street recently announced it was boosting its senior leadership team and board of directors with three new appointments.
John Tallman, a seasoned executive with more than 40 years of experience, has been named the new chairman of Elm Street’s board. Tallman’s expertise primarily relates to vertically focused software and service companies. Previously, he has served on the boards of Innovative Interfaces, Zift Solutions, Lexitas, and Kukui Corporation.
According to Elm Street, Tallman brings a “wealth of knowledge” that comes with a proven track-record of driving growth and market leadership. His skills include SaaS software, library management systems, legal software and services, B2B ecommerce, and technology consulting services.
“I was immediately attracted to the Elm Street Technology story,” Tallman said in a statement. “The united corporate vision, the leadership culture, and the commitment to overcoming challenges in the real estate industry are all refreshing changes to other players in the space. When you have a strong foundation like this, the sky’s the limit in terms of growth potential.”
Also appointed were Robyne Gaudreau as Elm Street’s new chief financial officer and Madison Davis Kelly as the new executive vice president of M&A.
Gaudreau has more than 20 years of experience managing financial strategies for high-growth companies. She joins Elm Street from SimplyWell, where she was the chief operating officer and chief financial officer. Before that, she was the chief financial officer for Viverae and SVP and CFO of Aguirre Roden, Inc.
Kelly will be tasked with honing Elm Street’s bold M&A efforts. She has a deep understanding of SaaS providers, and previous experience in the execution of mergers and acquisitions, the company said. At Greater Sum Ventures, a growth equity firm that invests in lower-middle market tech-enabled service companies, Kelly was behind more than 50 acquisitions across several portfolio companies.
“As we strive to service our real estate clients with a centralized, consolidated technology solution, we’re thrilled to welcome Jim to our board of directors, and Robyne and Madison to our executive team,” Luthra said in a statement. “Their deep industry knowledge and respective expertise will serve as incredible assets as we continue pursuing both organic and inorganic growth opportunities over the coming years.”
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