Contactually acquired by Compass

Real estate tech company Compass acquired cloud-based software company Contactually, the companies said Wednesday.

Contactually and Compass are joining forces to bring you the best in CRM technology. Read all about our acquisition, here: https://t.co/CqjwWN7dOC pic.twitter.com/JhxPjI4KoH

— Contactually (@Contactually) February 27, 2019

Washington, D.C.-based Contactually provides a SaaS-based customer relationship management (CRM) platform for real-estate agents, while New York-based Compass has an end-to-end platform that supports the entire buying and selling workflow.

With the acquisition, Contactually’s team of 30 will join Compass to help accelerate the development and adoption of its tech platform designed to make agents more productive, a press release states. Current Contactually customers will continue to have access to the CRM platform, their data and contacts.

“The team at Contactually built a contact management and communications tool that makes real estate agents and teams more efficient and effective, saving them time and helping them make money. This is exactly what we’re doing here at Compass,” Compass Founder and Chairman Ori Allon said in a statement. “Adding their technology and talent to our own will supercharge the Compass offering and bring us closer to our vision of the industry’s first end-to-end platform. We are excited to make them part of the Compass team.”

The Contactually team will work under Compass’ CTO Joseph Sirosh and Head of Product Eytan Seidmanb, who already lead a team of 175 tech staff members, to enhance the firm’s existing suite of tools. Even though terms of the deal weren’t disclosed, The Washington Business Journal reported that the acquisition deal’s value was in the “mid-eight figures,” and that Contactually will continue to work out of its Dupont Circle office.

“After working extensively with the Compass team, it was apparent that joining forces would accelerate our missions of building the future of the industry,” Zvi Band, cofounder and CEO of Contactually said in a press release. Band, who has played a leading role in the tech community as a cofounder of DC Tech Meetup, founded the company in 2011 along with Jeff Carbonella and Tony Cappaert.

This acquisition follows Compass’ 2018 launch of its CRM system that Contactually was already powering, currently being used by thousands of Compass agents monthly. According to Crunchbase, Contactually raised a total of $17.8 million over nine rounds of funding. Compass has a value of $4.4 billion and has raised $1.2 billion  over 14 funding rounds since its launch in 2012.