Clever Real Estate Expands Tech Footprint, Acquires Gravy Technologies

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Jan 08, 2024, 08:52 ET

ST. LOUIS, Jan. 8, 2024 /PRNewswire/ -- Clever Real Estate, a fast-growing real estate education and technology company, has acquired Gravy Technologies, a startup that has built the first loyalty rewards platform for first-time home buyers. As part of the acquisition, Gravy's Team, led by co-founders Jeff Dinter, Jimmy Lien, and Will Dunn, will join the Clever team.

Gravy was launched in 2021 to gamify the home-buying journey with a rewards program and financial fitness tools that help aspiring homeowners get mortgage-ready faster. To date, the Gravy app has helped over 30,000 people prepare for homeownership and earn $20 million in rewards.

"Clever gives us a platform from which to expand the scope of Gravy's mission," said Jeff Dinter, Gravy co-founder and CEO, who is joining as Clever's VP of Product. "In the future, our tech will serve not only renters but also homeowners, sellers, and repeat buyers. With Clever, we're tapping into an engaged audience of over 10 million people each year coming to Clever for online advice, data, and education — who we can now bring into personalized interactive experiences inside the Gravy platform."

In addition to its consumer app, Gravy also provides a "loyalty-as-a-service" (LaaS) solution for real estate agents and mortgage lenders to offer a white-labeled loyalty app to its customers. The 2022 Loyalty Barometer Report by Merkle showed that 79% of consumers are more likely to do business with a company because of its loyalty program. With Gravy's technology, any real estate professional can launch their own loyalty program, rewarding their clients for taking steps to get educated and financially prepared to buy a home.

"We were blown away by the quality of Gravy's technology and the impressive traction their LaaS platform had with lenders and real estate agents," said Luke Babich, Clever co-founder and CEO. "There is a loyalty arms race in real estate, as lawsuits challenge the structure of buyer's agent fees and incumbents such as Rocket Mortgage invest huge amounts into their own loyalty apps. Clever is leading the charge in equipping our lender and realtor partners with the networks and technology they need to compete with the best — and win."

Since 2017, Clever has saved customers more than $160 million on realtor fees, with an average 5.0-star rating based on 2,600+ verified customer reviews on Trustpilot. It recently launched Clever Pro, an all-in-one solution that empowers mortgage lenders to drive higher profits and provide more value to home buyers, and was named one of the fastest-growing companies in the Midwest by Inc.

About Clever Real Estate

Clever Real Estate is on a mission to connect people with the most trustworthy advice and the best solutions for every step of their real estate journey. Clever's primary offering is a realtor-matching platform that helps home sellers and buyers compare personalized realtor matches and save up to 50% of the typical fees. Clever's network spans 20,000 agents across all 50 states.

Please contact Kristen Herhold at 720-341-9962 or email [email protected] with any questions or to arrange an interview.

SOURCE Clever Real Estate