India's Housing.com announced that it has acquired Bangalore-based start-up company HomeBuy360 for $2 million.
According to Techcrunch, HomeBuy360 is an online platform that provides sales and customer relations management service that connects developers, agents and buyers with each other. The Bangalore based company claimed to have more than 70 developer across several cities in India. Housing.com plans to further extend its reach to the 20,000 real estate developers which the company said used their platform.
The Techcruch report also stated that Housing.com is the only real estate platform that has its own CRM software. With the HomeBuy360 acquisition, the company will be able to channel the Bangalore software's inventory into its data science lab. This will further complement Housing.com's existing real estate data and analytics. In a statement released by Rishabh Gupta, Housing.com's COO and interim CEO, the executive mentioned that the company's key stakeholders are the developers which will help to drive efficiency in the Indian real estate industry. Gupta added that the company's vision is for "every developer to use HB360 to bring down their sales and operating costs."
The Housing.com and HomeBuy360 partnership will introduce a unique platform, states the site Indiainfoline. This will enable developers and agents to streamline the whole real estate sales lifecycle. The platform will help track inventory, manage customer relations and drive efficient sale operations. Rajat Kothari, Founder and CEO of HomeBuy360 said that despite the enormous growth and traction in the country's real estate industry, the sector is still "highly unorganized." Kothari explained, "With less than 10% of developers currently using CRM for their back end & customer connect operations, we have a huge market opportunity ahead of us."
The HomeBuy360 executive also mentioned how Housing.com was able to establish itself as a real estate company that provides innovative products and solutions. Kothari added that the company's partnership with Housing.com will allow the firm to "further scale the business nationally."
