The acquisition speeds up the company’s execution to deliver exceptional experiences for consumers and the real estate agents that serve them
AUSTIN, Texas, October 2, 2019 – (RealEstateRama) – OJO Labs, which empowers consumers to make better decisions through its conversational AI (artificial intelligence) platform, “OJO,” acquired Austin-based RealSavvy, a powerful real estate software platform for REALTORS®, brokers, and teams that combines its collaborative IDX with customizable websites, branded mobile apps, and a fully-integrated predictive CRM.
OJO Labs has been forward-thinking in its approach to create a full stack of product offerings and solutions that will solve real consumer issues and advance the real estate industry that serves them. Now, with its Wolfnet and RealSavvy divisions, the company is in a position to bring an unprecedented combination of the best data, proprietary AI and technology platforms to further its mission and offer a truly differentiated, comprehensive home buying and selling experience, and help agents engage at optimal times during the process.
RealSavvy’s competitive edge comes from the way its platform keeps agents and their clients connected throughout the home transaction cycle. The home search is uniquely collaborative through a social, Pinterest-like and highly communicative experience. Among all homebuyers, the top two sources for information and property search are online websites (93%) and real estate agents (86%) as published by the National Association of REALTORS® research division. RealSavvy’s products bring these sources together in a consumer-centric, shared space with superior CRM functionality, rich client search analytics and notifications, as well as its real-time chat functionality, ensuring agents build and retain momentum from search to close.
“RealSavvy’s game-changing products and features were built to solve hard and entrenched problems that agents and brokers have wrestled with for years,” shares John Berkowitz, CEO of OJO Labs. “Even more significant than the products and underlying technology, is our alignment on vision and values. Our teams invested in similar visions, not to build products or a company for a quick sale, but to create products that truly impact people’s lives in a positive way, for both consumers and the agents that serve them.”
With RealSavvy joining OJO Labs in its new Austin headquarters on South Congress Ave., the company has assembled an outstanding team of engineering, data science, product and marketing professionals on its trajectory toward transforming real estate experiences for consumers. The culture, passion and focus enable the organization to solve complex problems while blazing new trails in ways no other company has done before. The synergy will allow partnered brokerages the ability to scale distinct products into the hands of consumers and agents.
“Our visions are aligned to effect transformative changes in the behaviors of agents and consumers working together,” Rick Orr, CEO of RealSavvy commented. “Bringing our platforms together, with a team of exceptional talent solving hard technical problems, adds fuel to our vision and helps agents have less dependency on portals, or aging technology, giving the industry a momentous advantage.”
OJO Labs is not disclosing details of the acquisition, however, RealSavvy will be immediately integrated into the company, leveraging its resources, market access, and team to further RealSavvy offerings and vision.
About OJO Labs Inc. – OJO Labs is on a mission to empower people to make better decisions through the fusion of machine and human intelligence. The company’s unique, patented AI technology products can conduct text conversations with consumers at scale. By combining natural language understanding with data and personalization, the products allow consumers to deeply engage in a purchase process before interacting with a salesperson. OJO Labs is backed by the two most active VC firms in Texas, leaders in real estate and financing industries, as well as key industry executives. OJO Labs has been recognized with seventeen major industry and workplace awards in 2019, including CV Magazine’s Best Digital Property Search Platform award, an AI Breakthrough Awards Best AI-Based Solution for Real Estate winner, an Austin Chamber of Commerce 2019 Austin A-List winner, and listed in FORTUNE Magazine’s Best Workplaces in Texas 2019. The OJO team has decades of combined success scaling businesses and deep experience in data science, engineering, product marketing, and operations.
Founded in 2014 in Austin, TX, RealSavvy is an all-in-1 platform for real estate agents, teams and brokerages dedicated to innovating how homebuyers engage with their agents through a “Pinterest-style,” collaborative home search. Winners of the 2015 SXSW Accelerator for Innovative Technology, the RealSavvy team is setting the bar high for IDX websites, CRM, and mobile apps.
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