Housing.com acquires HomeBuy360 for $2 mn

Marking its third acquisition this year, real estate platform Housing.com has bought HomeBuy360 (HB360) for $2 million.

Founded in 2011 by Rajat Kothari, Kshitij Minglani and A K Gururaj, HomeBuy360 is a Bangalore based cloud customer relationship management (CRM) software company.

The acquisition will help developers and agents to streamline their entire sales lifecycle by tracking inventory and managing customer relations. This will help reduce costs for 20,000 developers in the realty ecosystem.

''Developers are key stakeholders to drive efficiency in the Indian real estate sector. Our vision is that every developer uses HB360 to bring down their sales and operating costs, said Rishabh Gupta, interim CEO and COO at Housing.com. "This will help in reduction of property prices eventually benefitting the consumers,''

This acquisition will also fortify Housing.com's Data Science Lab (DSL) with rich data on inventory and transactions in the real estate sector, the company said in a statement.

''The Indian real estate sector is witnessing tremendous growth and traction but it is still highly-unorganised, posing significant challenges for the entire ecosystem. With less than 10 per cent of developers currently using CRM for their back end & customer connect operations, we have a huge market opportunity ahead of us,'' said Rajat Kothari, Founder and Chief Executive Officer at HomeBuy360.

Earlier this year, Housing.com had acquired Indian Real Estate Forum (IREF), a platform providing property information to consumers, and Realty BI to empower property buyers and financial institutions to assess risks and take informed decisions.

These acquisitions will help Housing.com consolidate its position as a comprehensive online realty player in the Indian real estate industry.