Venture MLS, a VC firm created by California Regional MLS, announces a strategic investment in SavvyCard and CRMLS announces the adoption of RE-Target to enhance user engagement.
CHINO HILLS, CALIFORNIA – August 3, 2022 — Venture MLS, the first VC firm created by a multiple listing service, has announced a strategic investment in SavvyCard®, an innovator in real estate marketing, lead generation, and targeted advertising. This investment concurs with an announcement from California Regional MLS, the nation's largest multiple listing service, which is adopting SavvyCard's RE-Target® product for its base of over 110,000 users.
The investment from Venture MLS will support SavvyCard as it builds toward meeting the high market demand for RE-Target®, its managed advertising solution. CRMLS and SavvyCard will collaborate to provide MLS users with feature-rich tools to communicate and engage with local buyers, sellers, and homeowners through SavvyCard's Software-as-a-Service (SaaS) platform.
"We've watched SavvyCard work over the years to align the needs of stakeholders in the industry, including 100,000+ CRMLS users and many more MLSs, Associations, and REALTOR® and affiliate members" said Art Carter, Venture MLS fund manager and CRMLS CEO. "SavvyCard is poised to do great things for real estate businesses and their customers. We're excited to help shape the next generation of their software."
The investment comes at the same time as CRMLS begins to deploy SavvyCard's RE-Target® software to its users. With RE-Target, fully participating Associations with CRMLS gain an alternative communications and advertising channel inside of MLS dashboards. RE-Target reduces Associations' dependence on email, offering a new way to promote events, education, and resources in the area where MLS users are most active. The software also functions as an advertising channel for vendors, affiliates, and business partners, forming a complete business ecosystem with the potential to bring in non-dues revenue.
According to Carter, "RE-Target not only gives CRMLS and participating Associations a new way to promote valuable tools and resources, it also generates non-dues revenue that we can use to invest in new tools and services for our users."
"Receiving an investment from Venture MLS and signing an agreement with the largest multiple listing service in the U.S. are incredibly validating," said David Etheredge, SavvyCard CEO. "We're thrilled to expand our relationship with CRMLS and to work with their team on building products that help agents and brokers serve the most accurate data to local buyers, sellers, and homeowners."
About Venture MLS
As the first venture capital firm created by an MLS, Venture MLS backs seed and early-stage companies within the property technology space. Venture MLS invests in companies that can leverage the unmatched experience, expertise, and connections it holds within its industry. Visit venturemls.com for more information.
About California Regional Multiple Listing Service (CRMLS)
California Regional MLS is the nation's largest and most recognized subscriber-based MLS, dedicated to servicing more than 110,000 real estate professionals from 41 Associations, Boards, and MLS organizations. CRMLS is the industry powerhouse and thrives on providing the most relevant products and services to its subscribers. For more information on CRMLS, visit www.crmls.org.
SavvyCard® is a Software-as-a-Service (SaaS) platform that utilizes aggregated client data to automatically generate customized web applications (called "SavvyCards") for companies, products and business professionals. SavvyCards are currently used by over 200,000 business professionals to automate and enhance their digital marketing and lead generation efforts. When RE-Target® is combined with SavvyCard's flagship software, SavvyCard for Real Estate & SavvyCard for Affiliates, Associations and MLSs will have broad visibility into communication performance, member engagement, and overall return on investment for member services.