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Ray White invests $3m in proptech start-up

The real estate group has announced a multimillion-dollar investment in a mobile-based proptech company that aims to improve outcomes for buyers, vendors and agents.

NurtureCloud, founded three years ago by Upside Realty CEO and founder Adam Rigby, has reportedly been developed to combine the functionalities of customer relationship management (CRM) software, as well as marketing automation, transactional and lead generation tools.

The real estate software also includes buyer and vendor portals, which are able to pull data from NurtureCloud, agent websites and databases, and the external data portals in real time, creating a more transparent buying and selling experience for customers.

Ray White managing director Dan White, who will become chairman of NurtureCloud, said that the mobile-based platform will provide agents with an advantage in an industry that is poised to benefit from improved data-driven sales management and best-in-class vendor experiences. 

“We are delighted to be investing in Adam and the NurtureCloud team and their unique mobile-first end-to-end platform, developed over the past three years,” Mr White said.

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“They are a hugely capable team and have found unique solutions for agents to be more productive while simultaneously being able to deliver a much more transparent experience for vendors and buyers. 

“It will be a great addition to our technology offering.”

According to Mr White, the real estate group intends to collaborate with the NurtureCloud team to customise the platform to suit the Ray White network and roll out the product over the next 12 months.

“We expect to see strong improvements in productivity and conversion rates across every step of the sales process,” said Mr White.

“On top of this, NurtureCloud’s vendor and buyer platforms will enable our members to deliver best-in-class customer experience now and into the future, keeping up with other industries.”

NurtureCloud CEO and founder Adam Rigby said the real estate industry has “lagged behind” other industries in terms of technological advancements.

“Most real estate specific software is built around the needs of a single local office and misses the mark when it comes to using metrics to improve performance of an individual or team,” Mr Rigby said.

“We are tremendously excited to see the impact of NurtureCloud within Ray White who are already technology leaders in the industry. 

“Their input into our product will be of great assistance and a catalyst for expansion within Australia and other international markets.” 

He concluded: “We strongly believe that Ray White is the perfect partner to help achieve this vision.”

[Related: CBA-owned fintech launches home-buying app]

Ray White invests $3m in proptech start-up
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