Founded in 2016, Remine manages a real estate tech platform that connects mortgage lenders, real estate agents and consumers. The platform analyzes property records, transactional history and consumer data for real estate agents around the country.
The company shared in a blog post on March 9 that it had laid off 38 employees in an effort to “pivot towards being a full enterprise MLS [multiple listing service] vendor,” and that departing employees would be offered severance packages and an option to be included in a “layoff press sheet” to connect them with other opportunities.
Last year when Remine made those sales employee layoffs, Remine President Leo Pareja wrote in a LinkedIn article that the company made the decision to cut employees to focus on providing tech to the MLS community, similar to its reasoning for layoffs today.
“Over the past few months, we spent time reflecting on our need to change, talked extensively with our customers about their needs, and then took a long hard look at how we were organized,” the company explained in Tuesday’s post. “What we discovered was that we had become a little heavy in some areas of the organization and too lean in others.”
Despite Remine saying that these layoffs don’t correlate with financial struggles, real estate news provider Inman reported that it received tips that the layoffs are due to low finances. Inman also reported that Remine is potentially trying to align itself to be acquired by New York-based real estate tech company Compass.
These layoffs come after Remine made some key additions to its leadership team back in January. The company welcomed former Redfin executive Chelsea Goyer as its new chief of staff; MLS expert Quinn Nichols has joined the team as VP of communications; and Troy Feeken has been appointed the company’s senior director of MLS product and implementation.
According to LinkedIn, Remine’s VP of finance and accounting Rikki Williams departed from the company last month, and its former executive VP and general counsel, Jeff Lord, hasn’t been employed with the company since last November.
When reached by email, Nichols declined to answer Technical.ly’s questions about current employee count, which departments were impacted by the most recent layoffs and the possible Compass acquisition. Over 100 LinkedIn users cited Remine as their employer as of Wednesday afternoon.
Also recently, Remine suffered from a security misconfiguration last month. During a time period in Remine’s password-protected development environment, anyone outside of the company was able to register an account to log in, TechCrunch reported. This space is where Remine’s developers share private keys secrets and other passwords. When Mossab Hussein, a security researcher at Dubai-based cybersecurity firm SpiderSilk, discovered the breach, he reported it to TechCrunch who then reported it to Remine.-30-