Propertybase, which is backed by Providence Strategic Growth, has acquired BoldLeads.com, an SaaS-based real estate lead generation technology platform. No financial terms were disclosed. The Forbes M+A Group advised BoldLeads on the deal.
GREENWOOD VILLAGE, Colo., Feb. 7, 2019 /PRNewswire/ — The Forbes M+A Group (Forbes), a leading transaction advisory firm, served as exclusive advisor to BoldLeads.com (BoldLeads), a leading SaaS-based real estate lead generation technology platform, on its sale to Propertybase, a portfolio company of Providence Strategic Growth (PSG), an affiliate of Providence Equity Partners.
Founded in 2014, BoldLeads provides lead generation and marketing automation services for residential real estate agents in the U.S. and Canada through its industry leading, scalable, proprietary SaaS technology platform. The BoldLeads platform generates and cultivates online buyer/seller leads for real estate brokers or agents, resulting in the highest lead generation ROI in the industry. By delivering quality leads and driving them through conversion, the Company has seen explosive growth in recent years, servicing thousands of clients in North America and generating over 1 million leads per year.
“Given the rapid growth of our Company, we needed an advisor who would tell our story and help us maximize the value we created by finding a partner who intimately understood the SaaS-based real estate lead generation industry and supported our growth,” said BoldLeads CEO Christine Crane. “We selected Forbes because of their excellent reputation, and they exceeded every expectation by taking the time to understand our objectives, delivering the best possible partner and terms.”
“With real estate tech companies disrupting the traditional real estate ecosystem,” said Bob Forbes, President of Forbes and BoldLeads’ lead advisor, “Companies like BoldLeads are attracting major interest from investment groups who recognize this growing market opportunity, as well as the real estate incumbents that see the strategic value of RE Tech and PropTech within the industry going forward.” In addition to Bob Forbes, the BoldLeads advisory team included Bill Nack, Managing Director & Partner, JJ Lane, Senior Associate, and Tom Willen, Analyst.
About The Forbes M+A Group
The Forbes M+A Group is an award-winning Denver-based mergers and acquisitions advisory firm. The firm has a capital formation group and also serves buyers and sellers in middle-market M&A transactions. Forbes applies meticulous attention to detail helping business owners develop and execute M&A strategy, acquire companies and partner with investor groups for growth to maximize value in an eventual exit. Senior advisors at The Forbes M+A Group have more than 200 years of combined experience in transactions across a wide variety of industries. For more information regarding this transaction or The Forbes M+A Group please contact Max Eckstein.
Propertybase, a portfolio company of Providence Strategic Growth (“PSG”), is a developer of a web-based customer relationship management (“CRM”) software intended for real estate agents. The company is headquartered in Boston, Massachusetts.
About Providence Strategic Growth
Providence Strategic Growth is an affiliate of Providence Equity Partners and is investing out of its third fund, with $1.3 billion of total capital. Established in 2014, PSG focuses on growth equity investments in lower middle market software and technology-enabled service companies, primarily in North America. Providence Equity Partners is a premier global asset management firm with approximately $60 billion in capital under management across complementary private equity and credit businesses. Since the firm’s inception in 1989, Providence has invested in more than 160 companies and is a leading equity investment firm focused on the media, communications, education and information industries. Providence is headquartered in Providence, RI, and also has offices in New York and London.