Transaction technology company Transactly has acquired Rent Engine LLC (doing business as Cake), a home connections company based in Dallas, Texas.
Cake offers a mechanism to streamline the hookup of home utility services, claiming it can be done in “five minutes or less.”
Transactly’s platform allows agents and brokerages to outsource real estate transaction coordination to the company’s in-house team, which leverages a suite of proprietary document management and communication tools. Or, a brokerage can choose to use Transactly’s deal automation suite as a web app.
Cake’s technology will be known as Connect, powered by Transactly, and its integration will link people at the end of real estate deals with next steps, such as getting homes up and running with local utilities, security companies and a host of other critical home vendors.
“Connect empowers agents to be able to provide a one-stop home-buying experience for their clients,” according to a press release announcing the acquisition. Transactly will bring Cake’s six employees on board.
Tony Neely, operations manager for Connect, said that his team is excited about its ability to expand the benefits of its service.
“It has been an absolute pleasure working with the Transactly executive team,” Neely said. “We could not have asked for a more dynamic leadership team to take our mission to the next level or a better support team to execute on it.”
Bryan Bowles
In March 2020, Transactly raised $3 million in a Series A funding round. A year later, it secured close to $3 million in bridge funding.
The St. Louis, Missouri, company was founded in 2017 by CEO Bryan Bowles, and has experienced rapid growth in the last two years, expanding by 700 percent from 2019 to 2020 alone.
“Purchasing a home is an immensely personal experience. Homebuyers have relationships with the agents, lenders and title companies in their communities,” said Bowles in the release. “Transactly doesn’t replace any of those roles, but instead makes it easier for all those participants to work together for a better homebuying experience.”
In June 2021, Transactly acquired Bellevue, Washington-based Moncord Real Estate Professional Services, a transaction services firm. At the time of the sale, Moncord had helped their clients close over $5 billion in transactions.
Have a technology product you would like to discuss? Email Craig Rowe
Craig C. Rowe started in commercial real estate at the dawn of the dot-com boom, helping an array of commercial real estate companies fortify their online presence and analyze internal software decisions. He now helps agents with technology decisions and marketing through reviewing software and tech for Inman.
