Carmel-based real estate tech firm Realync acquired
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
Realync Corp., a fast-growing real estate technology firm based in Carmel, has been acquired by Irving, Texas-based Grace Hill Inc.
Financial terms of the deal, which closed Sept. 20, were not disclosed.
Realync’s platform allows apartment management companies to offer live virtual property tours, virtual staging of properties and prerecorded virtual property tours. Its customers include Indianapolis-based Milhaus, Terre Haute-based Thompson Thrift and Georgia-based Greystar Worldwide LLC, among others.
The company is now doing business as Realync, A Grace Hill Company.
Founded in 2012 by Matt Weirich and Ani Rangarajan, Realync had 37 employees pre-acquisition. All those employees, including Weirich and Rangarajan, will remain with the company post-acquisition.
Weirich, who had been Realync’s CEO, will become executive vice president. Rangarajan, who had been chief operating officer, will become the company’s product strategy officer.
“We are thrilled to join the Grace Hill family!” Weirich said in a written statement. “This acquisition will leverage the expertise of both Realync and Grace Hill, and we are confident that together we are better positioned to continue to meet and exceed the needs of the real estate industry.”
Realync has seen significant growth in recent years.
In November 2020, the company announced that it had secured a $22 million investment from Pennsylvania-based Susquehanna Growth Equity LLP. In 2022 and 2023, Realync landed on the Inc. 5000 list of America’s fastest-growing private companies, ranking at 817 and 1,032, respectively.
Grace Hill, which was founded in 1998, offers technology-enabled real estate tools such as online staff training, online employee and resident surveys, mystery shopping and other offerings for owners and operators of apartments and commercial developments. Pre-acquisition, Grace Hill had more than 200 full- and part-time employees plus another 39 or so contract employees.