Davin Miller, CEO of Rex Software, expressed enthusiasm about the partnership, stating:
"The team at Cirrus8 and RealTrust ('C8 Group') have built an outstanding business, catering to the commercial estate agency property management market in Australia and New Zealand. We look forward to providing C8 Group customers with a tailored Rex commercial estate agency sales CRM, along with fully customizable websites and targeted social media marketing solutions. These offerings have been widely adopted by residential agents, and our research indicates strong demand among commercial agents seeking to expand their footprint and enhance collaboration with existing customers."
Founders of Cirrus8 and RealTrust, Steven Carulli and Raymond Bechard, shared their excitement about this next phase of growth for the companies they established over eight years ago.
"We have already cemented our position as the leading commercial property management software and solutions provider in ANZ. Partnering with Rex will allow us to further invest in the ANZ market while expanding globally into the UK," said Carulli.
Bechard added, "A key attraction of this partnership is Rex’s backing by institutional capital from Potentia and their strong track record of growing market share in the UK over the past three years. We look forward to leveraging that footprint, financial strength, and experience. Additionally, we have fostered a fantastic company culture, and after meeting the executive team at Rex, we knew it would be a great cultural fit."
The combined entity will be led by Miller, while Carulli and Bechard will continue to manage the Cirrus8 and RealTrust businesses. The majority ownership of the group will remain with Potentia Capital.
Cheyne Tan and Michael McNamara, Partners at Potentia Capital, emphasized the strategic fit of the partnership, stating:
"As we assessed the PropTech ecosystem, the C8 Group stood out as a leader in innovation and customer service. We believe there is a strong alignment of values between these organizations, and we are excited about the benefits this combination will bring to C8 Group customers, Rex customers, and the industry as a whole."
About Rex
Rex Software is a PropTech company founded 14 years ago to provide CRM, property management, digital advertising, and website solutions for the Estate Agency industry in the UK, Australia, and New Zealand.
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About Cirrus8 and RealTrust
Cirrus8 is an industry-leading cloud-based CRE property management and accounting software platform that simplifies and automates the management of commercial, retail, and industrial property portfolios.
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RealTrust is the premier provider of outsourced trust accounting, virtual property management assistance, budgeting, and annual outgoings reconciliation services to the commercial real estate industry.
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About Potentia Capital
Potentia is Australia and New Zealand’s only dedicated technology growth capital and private equity fund, investing in technology companies across the region. Potentia invested in Rex in 2022.
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For more information visit https://www.kerfuffle.com/suppliers/rex-software
Find out how REX can help your agency here.
