Geoimovel has been operating in Brazil for 15 years, primarily serving real estate home builders with market intelligence and analytics to help them make better decisions.
The company was founded by four real estate appraisers that had been consolidating data to help them assess property values. The SaaS platform is used by many of the leading real estate companies in Brazil. Geoimovel has mapped approximately 3 million real estate units in over 500 cities across the country and tracks historical pricing data as well as sales velocity of new homes.
VivaReal's co-founder and chairman Brian Requarth explained how important data was in the acquisition.
“Access to quality and reliable real estate data in Brazil is not easy to come by. This acquisition makes a lot of sense for VivaReal as data is a heavy focus for us," Requarth said.
"VivaReal is focused on bringing transparency to the Brazilian real estate market, helping to increase trust and liquidity for property buyers, sellers and renters. This acquisition helps accelerate our long term vision,” states Brian Requarth, VivaReal Co-Founder and Chairman.
In the last 18 months, VivaReal has expanded its scope with the acquisition of suahouse, the leading CRM provider for home builders. Requarth made a deal with the suahouse team that if they reached 100 customers by December 2016, they could shave his head.
Here is a video that captures the celebration:
The combination of suahouse and Geoimovel helps bolster its offering for real estate construction companies. The CEO of Geoimovel, Marcelo Molari will report to Lucas Vargas, VivaReal’s Chief Executive Officer.