Home Topics Real Estate The Fathom subsidiary IntelliAgent acquires the LiveBy technology platform

The Fathom subsidiary IntelliAgent acquires the LiveBy technology platform

Fathom Holdings subsidiary IntelliAgent has acquired LiveBy market data and technology platform for $ 9 million, which consists of $ 3 million in cash and $ 6 million in Fathom Holdings common stock. The deal is expected to close in the second quarter of 2021, according to an announcement on Thursday.

“With the acquisition of LiveBy, we believe we can achieve four very important goals on our path to disrupting the real estate industry,” said Josh Harley, chairman and CEO of Fathom, in the announcement. “Brokers are looking for better technology to differentiate themselves and compete. We believe LiveBy can help them do just that in their local communities by being seen as local market experts.”

Cory Scott

“At LiveBy, we love creating exceptional relationships between buyers, sellers and agents through local discovery,” added Cory Scott, LiveBy CEO. “By partnering with Fathom, a company that shares the same values, we should be able to attract a growing number of agents and provide them with a wide range of hyper-local tools to help them be more successful.

Founded in 2015, LiveBy leverages hyper-local market data to help agents drive site engagement and drive leads through personalized, key insights for buyers and sellers. The LiveBy database contains information about neighborhood boundaries, cities, subdivisions, school districts, and zip codes in all 50 states, Canada, Mexico, the Bahamas, and the Cayman Islands.

Much like Fathom’s acquisition of marketing and technology platform Naberly Solutions in February, Harley said LiveBy will be an integral part of the agent’s national real estate portal. “We believe we can develop a successful real estate portal that by focusing can effectively compete with the largest websites in building a hyper-local content-rich website that search engines will recognize as the authority on local markets,” he said.

In a previous Inman article, Harley said the national portal would be “independent of Fathom Realty” since IntelliAgent is owned by Fathom Holdings, the parent company of Fathom Realty. The CEO said this will allow Fathom and non-Fathom agents to use the IntelliAgent platform and portal, and be sure that IntelliAgent is not accessing their data.

“We do not have a desire to compete by outperforming our competitors, nor do we need to generate leads for hundreds of thousands of agents to make this initiative very successful,” said Harley. “If I’ve learned something from my time in the Marine Corps, a small elite force can outsmart and overwhelm larger forces, and we believe we can do the same at Fathom.”

In addition to launching the national portal, Fathom’s technology acquisitions are an important part of their path to profitability, according to Harley.

“As I’ve discovered since we went public, Fathom’s technology enables us to achieve a faster path to profitability while still charging a small fraction of our competitors’ fees. There are thousands of brokers who need what we are building. ” he said.

Since Fathom Holding went public in July, the company’s annual revenue has increased 59 percent year-over-year to $ 176.8 million. This is due to the double digit growth in transactions, the average revenue per transaction, and the number of agents. Fathom’s latest earnings call revealed that the company is nearing profitability with its generally accepted accounting principles (GAAP) from $ 4.1 million in 2019 to $ 1.3 million in 2020.

Email Marian McPherson

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