MooveGuru, a proptech service provider for movers that raised $5 million in equity funding last year, announced on Thursday that it has acquired its competitor, Relocator. According to the company, the acquisition was an “eight-figure transaction,” but it did not disclose other details regarding the financial terms of the deal.
“We have long admired the Relocator platform and mortgage customer base,” MooveGuru CEO Scott Oakley said in a prepared statement.
As part of the deal, MooveGuru acquired Relocator’s platform, its clients, the contracts with three “top” mortgage companies – the names of which were not disclosed — along with its employees, which include 5,000 loan officers and 30,000 real estate agents.
“Our combined entities position MooveGuru as the exclusive solution for agents and loan officers to offer their clients all the tools they need to self-manage their move and beyond as part of the entire homeownership lifecycle,” Oakley added.
Relocator co-founders Mark Johnson and Andy Solheim will join MooveGuru’s executive team.
“We are most excited about leveraging MooveGuru’s unbelievable number of integrations which automates client onboarding and will allow us to leverage our existing relationships and offer our clients the best possible customer-for-life solutions,” Johnson said. “The impact on lead flow and revenues will be immediate and significant.”
Founded in 2016, MooveGuru launched a “free mover engagement program” to connect homebuyers and sellers to save money on moving services. It offers products like Mover Connect, a white glove utility assistance for relocating customers; Mover Engage, an AI-powered program that identifies future buyers and sellers and sets up email marketing to clients; and HomeKeepr, a home management dashboard, which MooveGuru acquired in February 2021.
The company currently offers services to more than 370,000 agent and loan officer clients, with more than 70 data integrations. According to the statement, more than 2,500 real estate brokerages, 1,500 mortgage brokerages and 8 million homeowners are connected to its platform.
Companies like ERA, Keller Williams, Better Homes and Gardens Real Estate, Berkshire Hathaway HomeServices, Exit Realty, Century 21, RE/MAX, Realty One Group, Realty Executives, and The Realty Alliance use MooveGuru, among others.
Relocator was founded in 2017 and also provides similar products, like concierge services. Its Relocator Moving Specialist transfers utilities, gadgets and home security. The company also books maintenance services online, offers a Moving Checklist for organizational support, and connects movers to resources to help forward mail, contact DMV, and find healthcare and schools.
MooveGuru will now offer Relocator’s mover dashboard to organize tasks and schedule providers and services.