NAB Ventures, NAB’s corporate venture capital arm, has invested in Melbourne-based real estate property tech company ActivePipe, as part of a $5.9 million series A funding round.
ActivePipe is an automated communications platform for the real estate industry. Launched in 2015 and servicing more than 50 brands and over 1150 real estate offices, ActivePipe helps real estate agencies and brokers in identifying and converting potential buyers and sellers.
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The round was led by NAB Ventures, and joined by PieLab Venture Partners (an Australian Real-estate industry focussed Venture Fund) and other strategic individual investors.
It followed a $1.8 million pre-series A round in August 2017.
“We are delighted to have closed this round so quickly after our pre-series A round, and with the support from new strategic investors. With our growth in Australia continuing to accelerate, we are now poised and funded to capitalise on the global opportunity for ActivePipe,” said Ashley Farrugia, CEO of ActivePipe.
“Buying and selling real estate is a people business where technology can dramatically enhance the customer experience. ActivePipe is as relevant in the US and UK as it is in Australia where our users enjoy stellar ROI on their investment in our platform.”
Todd Forest, Managing Director of NAB Ventures, said he was excited to invest in Active Pipe at this stage of its journey.
“Active Pipe has developed a proven, value-add tool in the real estate industry, in helping agents have more timely and insightful conversations with their customers,” Forest said.
“In Active Pipe, NAB Ventures has invested in an exceptional team that is rapidly innovating and deploying technology that allows better engagement at a really important point in the property buying journey. We’re looking forward to the insights we can gain from working with Ash and his team and exploring how we can potentially leverage this capability for NAB and customers in the future.”
The ActivePipe platform uses data, predictive analytics and automation to manage the communication journey with all new prospects without the need for agent intervention or participation. It also monitors prospect’s behaviours, adapting the prospect’s profiles and predicting specific intent, automating communications with property information relevant to that customer’s needs.
It identifies and profiles specific intent, then automates customer communications with property information and call to action relevant to the needs of the specific consumer.