Dive Brief:

• RealPage announced last week that it has acquired Seattle-based Knock CRM, a provider of customer relationship management and front office technology.
• Knock, founded in 2014, offers products designed to help property operators convert prospects into renters with scheduling, lead attribution and communication, according to its website. It also provides task management, team oversight, centralization, strategic planning and a mobile element, allowing teams to communicate on the go. 
• Knock’s API-first platform will retain its ability to plug into any property management system after it becomes part of RealPage. It can also work with other communication and productivity apps.

Dive Insight:

As the multifamily industry has emerged from the worst of the pandemic, companies have widely adopted technology and tools to centralize the leasing process — and let prospects and residents interact on their terms.

"This [acquisition] is another sign of how important proptech and customer experience is in rental housing,” Donald Davidoff, president of D2 Demand Solutions, a firm that helps apartment operators maximize their revenue, told Multifamily Dive. “RealPage investing in acquiring Knock really validates the CRM space."

The Knock acquisition allows RealPage, which is backed by private equity investment firm Thoma Bravo, to deliver a front office platform that supports centralized leasing, CEO Dana Jones said in a news release announcing the acquisition. 

Knock’s products and services will be combined with RealPage’s expertise in artificial intelligence, yield management and smart property management solutions. RealPage currently serves over 22 million units worldwide, while Knock is in millions of units.

“RealPage and Knock share an identical vision for a truly connected and intelligent front office,” said Demetri Themelis, CEO and co-founder of Knock, in the press release. “Together, we will realize this vision faster, and the combination will enable us to go even further on our commitment to delivering both the technology and customer service our customers need to offer a best-in-class prospect-to-resident experience.”

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