Reapit is investing an additional more than £20 million in technology, expanding its development of AI, consumer-facing products and its broader estate agency software platform.
Combined with Reapit’s existing research and development spending, the company said it is now investing well over £40 million in innovation.
The additional capital will support Reapit’s strategy of combining its core platform with consumer engagement technology and artificial intelligence.
The company has provided estate agency technology for more than 25 years and is seeking to move its platform beyond transaction management toward supporting longer-term relationships between agencies and their customers.
Reapit’s strategy centers on a platform that operates the agency’s business, a customer-facing portal and an intelligence layer providing additional insights.
Its Reapit Home product is designed to extend the agency-customer relationship beyond an individual property transaction by capturing customer behaviors and signals that can indicate future property needs.
Reapit believes combining transaction history, customer interactions and behavioral information can provide more useful context for AI systems, enabling agents to identify opportunities earlier, personalize engagement and improve productivity.
The increased investment is backed by Reapit’s customers and Accel-KKR, which continues to support the company’s technology development strategy.
KEY QUOTES:
“We’re incredibly proud of the confidence both our customers and Accel-KKR continue to place in Reapit. For more than 25 years, we’ve worked alongside the industry’s leading agencies, helping them grow, innovate and adapt as markets evolve.
This increased investment in R&D reflects our confidence in the future and our commitment to helping customers lead in the AI era. It enables us to accelerate innovation even further, empowering estate agencies with the intelligence and consumer experiences they need to deliver outstanding outcomes for the customers they serve.”
Mark Armstrong, CEO of Reapit
“Our customers trust us with the systems their businesses cannot operate without. We never treat that as settled. Our increased investment in technology is our response to that trust. When an agency commits its most important operations to Reapit, it is committing its future performance to our roadmap, and that carries an obligation. We are putting more than £40 million behind making sure the agencies who backed us are the ones leading this market in 2030. Our job is to make their trust the smartest decision they made.”
Matt McGown, Chief Product Officer at Reapit
“The AI era will not be won by those with the newest technology alone. It will be won by those with the strongest foundations and the ability to innovate at speed. Reapit’s leadership is built on advantages that competitors cannot easily replicate: trusted customer relationships, market-leading workflows, a thriving ecosystem and decades of industry knowledge and data. We look forward to Reapit’s ability to build on those strengths and bring innovation and AI capabilities to customers even faster.”
Park Durrett, Managing Director at Accel-KKR
