MoxiWorks is looking to up its game. The real estate technology company will be aided on this journey by additional capital it has secured from its ownership group, which includes private equity partner Vector Capital, and brokerages Howard Hanna Real Estate Services and Windermere Real Estate, according to an announcement on Friday.
The exact amount of funding was not disclosed.
The company said the additional capital will be used to advance MoxiWorks’ “aggressive product strategy,” which is aimed at helping brokerages and agents win and close more deals. In order to accomplish this goal, MoxiWorks said it is homing in on four cornerstones: AI and automation, agent team capabilities, propensity scoring and mobile.
“When I joined MoxiWorks six months ago, it was clear that the residential real estate industry was undergoing significant change. Situations like this create huge uncertainty, but also a huge opportunity for evolution to support the modern agent. And there was an opportunity to look inward and ask, ‘What should we be doing differently to help drive success for our customers?’” Eric Elfman, the CEO of MoxiWorks, said in a statement.
“Today, MoxiWorks is building new capabilities from the ground up that bring our well-respected legacy platform into the future. We are disrupting our company through investments in product and leadership to be a better partner to our customers.”
In addition to the additional funding, MoxiWorks also has a new chief revenue officer in Craig Raeburn. According to the release, Raeburn will be tasked with leading the company’s sales strategy, including global sales.
Raeburn comes to MoxiWorks from SimpleLegal, where he led sales organization. Prior to this he served as the vice president of commercial programing at Provation and as a global vice president and account manager at TyMetrix, a Wolters Kluwer business.
“Craig brings a wealth of experience and a customer-first mindset to MoxiWorks,” Elfman said. “I look forward to working with him to ensure that our customers receive the support and innovative technology solutions that drive their businesses forward.”
In addition to Elfman and Reaburn, MoxiWorks has also recently welcomed Ben Tao and Jackson Mayes to its c-suite. The company went through a round of layoffs in July, a month after Elfman took over.
