Seattle real estate software startup MoxiWorks sells accounting product to Upfront
This story originally appeared on Real Estate News.
Seattle-based MoxiWorks is doubling down on its sales and marketing solutions and selling off MoxiBalance, a back-office accounting product used by more than 150 brokerages and 20,000 agents in the U.S. and Canada.
The buyer, Vero, is a new division of Upfront, a financial platform for franchisors, brokers and agents. MoxiBalance will be rebranded as Vero. Terms of the deal were not disclosed.
Eric Elfman, the disruption-minded CEO of MoxiWorks, said the move reflects the company's evolution from 'a leading legacy software provider into the go-to real estate sales and marketing platform, empowering agents to find, win, and close more deals.'
MoxiBalance GM Ishtyaq Ahmed is joining Upfront as chief product officer.
'We're thrilled to bring modern finance and innovation to the back-office space. MoxiBalance is a great platform, and we are excited to add Ish and his 10 years of back-office experience to our team in this deal,' said Upfront Co-founder and CEO Mukund (Muk) Venkatakrishnan.
The two companies said in a statement that they will continue to integrate their software and that customers should not experience any disruptions.
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