“Reesio provides brokers and agents with a platform to collaborate and communicate with home buyers and sellers, mortgage professionals, title and escrow companies, inspectors and other service providers, making the transaction process transparent and speeding communication to relevant parties. Reesio’s secure online platform allows collaborators to share, edit, sign and store transaction documents such as offer letters, inspection reports, and loan information in one place, and helps brokers and agents to reduce transaction errors and risk by allowing workflow templates to guide the steps and requirements for closing.”
The industry consolidation continues…
Terms of the transaction were not disclosed. I don’t think Reesio was generating much cash, so this deal was an obvious strategic deal to counter Zillow Group’s acquisition of dotloop.
I’ve written about Reesio and their CEO Mark Thomas before. They hustle and Move needs that kind of spirt to compete.
So, congrats to Mark and his team on an successful “exit”.
Thanks Greg! We’re super excited about this because as you know, we’ve been running a lean ship with pretty much just the 4 Co-Founders (2 engineers) since we launched 3 years ago. This acquisition will allow us to have significantly more resources than we had before, which should accelerate our product development. Can’t wait!