St. Louis-based Clever Real Estate has acquired Gravy Technologies, a startup that created the first loyalty rewards platform for first-time home buyers.
Gravy, which was founded in 2021, 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. As part of the acquisition, Gravy’s Team led by co-founders Jeff Dinter, Jimmy Lien, and Will Dunn will join the Clever team. The financial terms of the deal were not disclosed.
“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 vice president 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.”
“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.”
;
