Newcastle-based iamproperty has acquired lead generation firm The ValPal Network.
The PropTech, which is backed by private equity firm Perwyn, is building an ecosystem of estate agent services.
Founded in 2009, it now employs more than 700 staff across the UK.
The ValPal Network, based in Kent, is an automated valuation and lead generation platform for estate agents and has worked with iamproperty for several years.
It says it currently generates more than a million leads a year for more than 4,000 estate agency partners across the UK.
“This represents an excellent strategic fit for iamproperty, as we continue to enhance our AI capabilities and broaden our digital ecosystem to improve the buying and selling process for everyone,” said Ben Ridgway, co-founder of iamproperty.
“The ValPal Network’s portfolio of AI powered software services transforms the lead generation process for Estate Agents, driving revenue and saving both time and costs.
“Integrating these capabilities into iamproperty further bolsters our existing tech-driven marketing and lead generation services and will ultimately unlock enhanced profitability for our partner agents.”
The ValPal Network founder and CEO Nat Daniels said: “The combination of our technology and advanced AI, their technology, and our combined expertise and creativity will help The ValPal Network to accelerate growth.
“The synergies lie not only in our business’s mission and innovation, but also in our culture, vision and commitment to service excellence and agent experience.”