Seattle-based apartment management software company Knock CRM is being acquired by RealPage, a real estate software and data company headquartered in Richardson, Texas.
The deal, announced Friday, should close in the coming days, and the companies aren't disclosing the financial terms, a Knock spokesperson said. Knock's 182 full-time employees are all staying aboard, the spokesperson added, and the company will maintain its brand as "Knock, a RealPage company" to start.
“RealPage and Knock share an identical vision for a truly connected and intelligent front office. Together we will realize this vision faster, and the combination will enable us to go even further on our commitment to delivering both the technology and customer service our customers need,” Demetri Themelis, CEO and co-founder of Knock, said in a release.
The spokesperson said Knock will keep its headquarters in Ballard. RealPage will have more than 7,900 employees when the deal closes, the spokesperson added.
Knock, founded in 2014, was initially called ZipDigs before rebranding to Knock within a few months of its founding. Its software helps with marketing, messaging, performance oversight and scheduling tours. The company raised $20 million in February 2021, bringing its total funding to $47 million.
RealPage, meanwhile, was founded in 1998. The company uses data to help property owners and managers with investment decisions. RealPage also offers solutions in billing, marketing and online leasing, among other functions. According to the company, RealPage serves more than 22 million units globally.
RealPage went public on the Nasdaq in 2010, but a roughly $10.2 billion acquisition by private equity firm Thoma Bravo in April 2021 took the company private.
“Acquiring Knock accelerates our strategy to deliver a next-generation front office platform that supports centralized leasing,” Dana Jones, CEO of RealPage, said in a release. “Together with Knock, RealPage will meet our customers' needs with a connected platform that enables an AI-driven virtual operating model.”
