Reapit, a property software provider, has secured more than £20m of growth funding from Accel-KKR. The funding will support acceleration of AI and consumer-technology development across its platform. .
Estate agency technology has traditionally centred on managing individual transactions. Reapit is moving beyond that, aiming to help agents maintain relationships with customers between property moves. A customer-facing portal, Reapit Home, forms a key part of the strategy, allowing agencies to stay in contact with customers beyond an individual transaction. Information from those interactions can be combined with existing customer and transaction data, then analysed by AI to identify behavioural signals or potential opportunities, such as flagging when an existing customer may need another property service.
The strategy brings agency data, customer interactions and AI together within one platform. Reapit expects AI to change how estate agencies operate, from managing customer relationships to identifying potential instructions and automating administrative work, and believes better customer data could help agents spot future sales and lettings instructions more quickly. Estate agency technology is expected to focus increasingly on those longer-term relationships.
Several estate agency businesses have recently renewed long-term agreements with Reapit, although the announcement did not identify the firms. Reapit plans to increase product development and innovation spending to more than £40m annually, a figure that includes existing research and development. The latest investment will accelerate work on the core platform, consumer technology and AI capabilities and expand its Reapit Home portal.
This investment is both a validation of that journey and a commitment to the future. It enables us to accelerate innovation even further, empowering estate agencies with the intelligence and consumer experiences they need to deliver outstanding outcomes for the customers they serve.
Our customers trust us with the systems their businesses cannot operate without. We never treat that as settled. This investment is our reciprocation. When an agency commits its most important operations to Reapit, it is committing its future performance to our roadmap, and that carries an obligation. We are putting more than £40 million a year behind making sure the agencies who backed us are the ones leading this market in 2030. Our job is to make their trust the smartest decision they made.
The AI era will not be won by those with the newest technology alone. It will be won by those with the strongest foundations and the ability to innovate at speed. Reapit's leadership is built on advantages that competitors cannot easily replicate: trusted customer relationships, market-leading workflows, a thriving ecosystem and decades of industry knowledge and data. This investment accelerates Reapit's ability to build on those strengths and bring innovation and AI capabilities to customers even faster.
