Minneapolis-based residential real estate startup company HomeSpotter has been acquired by Lone Wolf Technologies Inc., the companies announced Tuesday. The terms of the deal weren't disclosed.
Lone Wolf is also a residential real estate company with headquarters in Cambridge, Ontario and Dallas, Texas. It also announced Tuesday that it had acquired LionDesk, a Carlsbad, Calif.-based customer relationship management platform for real estate professionals.
"These acquisitions embody our mission to simplify real estate. We're bringing the best technology together to dramatically simplify the work that agents and brokers do every day," Jimmy Kelly, CEO of Lone Wolf, said in a statement.
Founded in 2010, HomeSpotter has 46 employees and has raised about $6 million in venture capital, founder and CEO Aaron Kardell said. Its investors include Brightstone Venture Capital, Confluence Capital Partners, angel investor Mike Bollinger and investor Rob Weber.
HomeSpotter makes mobile applications for real estate firms, as well as a way for them to automate the posting of listings on social media. Over 500,000 real estate agents use HomeSpotter's tools through enterprise relationships with about 300 firms such as Edina Realty, Kardell said.
Lone Wolf reached out to HomeSpotter about a deal earlier this year, Kardell said. While HomeSpotter wasn't seeking a sale at the time, the acquisition came to make sense. Lone Wolf, which has had more of a focus on back-office tools, is working on building a full end-to-end solution, Kardell said.
The HomeSpotter brand is expected to stay around for the time being, as is Kardell. He believes that more hiring in Minnesota is likely as Lone Wolf wants to beef the business up.
"Lone Wolf has definitely expressed a desire to invest more in what we're doing," he said.
In 2019, HomeSpotter completed its first acquisition, Spacio, a Canadian startup that makes a digital sign-in sheet for Realtors collecting information from people touring houses.
