O’Melveny Advises Reach150 on Sale to SmartZip AnalyticsMarch 08, 2017
FOR IMMEDIATE RELEASE
SILICON VALLEY—March 8, 2017—O’Melveny represented Reach150, a referral management platform focused on relationship businesses, in its sale to SmartZip Analytics, Inc., a leader in predictive marketing technology for real estate, lending, and related home service industries. SmartZip will incorporate Reach150’s content and referral marketing tools into its SmartTargeting platform, giving users an easier way to leverage user-generated content and referrals from past clients.
The O’Melveny team was led by partners Brian Covotta and Warren Lazarow, along with associate Christopher Dombkowski.
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O’Melveny & Myers LLP
The following release was issued by SmartZip and Reach150:
SmartZip Acquires Reach150, Further Enhancing its Predictive Marketing Platform
The acquisition will strengthen SmartZip's position as the leading SaaS solution for real estate and adjacent industries to accelerate growth with analytics-driven targeted marketing
PLEASANTON, Calif., March 7, 2017 /PRNewswire/ -- SmartZip Analytics, Inc. (www.smartzip.com), the leader in predictive marketing technology for real estate, lending and related home service industries, announced the acquisition of Reach150 (www.reach150.com), a referral management platform focused on relationship businesses. In parallel, SmartZip received a strategic growth equity investment from Toba Capital, a key investor in Reach150, to fuel product and market development of the combined solutions.
For over six years, SmartZip's proven predictive marketing platform, SmartTargeting, has helped thousands of real estate professionals identify and connect with probable home sellers in their local areas. Recently, SmartZip added new capabilities – SmartTargeting for your Sphere – to enable its users to maximize repeat business from their previous clients and contacts. With this acquisition, SmartZip will fold Reach150's content and referral marketing tools into the SmartTargeting platform, giving users an easier way to leverage user-generated content and referrals from past clients.
For relationship and referral-based businesses like real estate and lending, the key to efficient customer growth is to target both new prospects and past contacts with focused messaging that resonates," said SmartZip president and CEO Avi Gupta. "Reach150's referral engine provides our users a new way to win more business via compelling, original content that can be easily promoted via SmartTargeting's full-scale marketing suite."
Reach150's referral management system includes an intuitive mobile app that easily requests, reviews and publishes recommendations from past clients, turning them into powerful online advertising campaigns. The system also includes branded profile pages that are continually updated with the new recommendations, which strengthens the user's online reputation, enhances search engine rankings and can ultimately yield more clients.
"As a client of both SmartTargeting and Reach150, I am thrilled that these compatible solutions will be merging and providing my agents with one system to identify, connect with, and win new and repeat business," said Keith Robinson, who represents 260 offices and 1,600 agents as the Chief Strategy Officer of the NextHome and Realty World Northern California & Northern Nevada.
Reach150's customer base spans businesses across the broader home services ecosystem, including real estate, lending, insurance, solar and automotive. This aligns well with SmartZip's vision to help any business that sells to the home to acquire, retain and grow their customers using the power of analytics-driven marketing automation.
Existing Reach150 customers will continue to benefit from the current Reach150 platform while gaining access to SmartZip's comprehensive SmartTargeting system and broader customer support organization. Reach150's team will be seamlessly integrated into SmartZip's Silicon Valley headquarters. The product and engineering teams from SmartZip and Reach150 will start work on creating an integrated, expanded platform that boosts the referral capabilities for all SmartTargeting users.
"Reach150 and SmartZip are a natural fit," said Dan Hodges, the founder of Reach150. "The clients we both serve seek simplicity nearly as much as value from their vendor partners. Our combined company will enable us to provide more comprehensive services with a higher level of support and integration. We are excited for what's ahead."
The strategic equity investment by Toba Capital will help fuel such integration and accelerate bringing the expanded offering to market. "Reach150's capabilities in referral and sphere management are an excellent complement to SmartZip's sophisticated analytics platform. Together they make the most intelligent and fully-featured marketing technology available today for real estate and related businesses," said Vinny Smith, Founder of Toba Capital. "We are excited by the strategic fit between these two companies and look forward to supporting the combined business in the years ahead."
ABOUT SMARTZIP ANALYTICS, INC.
SmartZip Analytics is a national leader in predictive marketing solutions for real estate, lending and related home service industries. Using patent-pending home intelligence, predictive analytics and automated marketing campaigns, SmartZip's SmartTargeting platform offers an integrated solution that can identify top home seller prospects accurately, engage them through targeted online and offline marketing campaigns, and help close more business with smart nurturing and prospecting tools. In addition, leading national real estate and financial companies, including ZipRealty.com, foreclosure.com, HomeSnap, Envestnet|Yodlee, RealtyStore.com and others rely on SmartZip's best-of-breed analytics for their products and online businesses.
SmartZip is backed by Intel Capital, Claremont Creek Ventures, Crest Capital, Javelin Venture Partners, Cue Ball Capital, Toba Capital and ORIX Growth Capital, and is headquartered in Pleasanton, CA.
ABOUT REACH150 SOCIAL INC.
Reach150 is the leader in referral management, providing relationship businesses with a systematic and simple way to generate more referrals and close more business. Ninety-two percent of individuals trust referrals from people they know and are six times more likely to do business with them.
Reach150 helps people grow their business by proactively building their online reputation, promoting proof of their excellent service, and nurturing their most important relationships.
ABOUT TOBA CAPITAL
Toba Capital is a venture firm focused on enterprise software and infrastructure. Toba backs entrepreneurs building transformative businesses, both as an investor and as an ongoing operational partner. The firm was founded by Vinny Smith, an early investor and former CEO of Quest Software. For more information on Toba Capital, visit TobaCapital.com.