MRI Software, a Solon, Ohio-headquartered provider of real estate software solutions, has acquired New York City-based Insurent, a lease guarantor provider for renters, landlords, property owners and real estate brokers.
The financial terms of the acquisition were not disclosed. Insurent was founded in 2008 and has guaranteed more than $1 billion in rent exposure since inception. Its services are accepted by over 9,000 buildings that encompass more than 800,000 apartments.
“The combination of Insurent’s lease guarantor offering and MRI’s existing resident insurance and fraud mitigation offerings will redefine what’s possible for risk protection, providing property owners and residents with the ultimate peace of mind,” said John Ensign, president and executive managing director for North America at MRI Software. “The strategic alignment of our businesses paves the way for the future integration of Insurent’s offerings into the MRI Living suite of multifamily solutions, enabling an enhanced user experience across the residential lifecycle.”
“We are excited to join forces with a PropTech industry leader,” added Jeffrey Geller, vice chairman and chief operating officer at Insurent. “Bringing together two forward-thinking category founders will drive leasing confidence and ensure that Insurent’s clients and applicants benefit from the latest technology and innovation.”
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