RedVision Systems’s Situation:
In 2007, RedVision wanted to accelerate its organic growth and to execute acquisitions for step-function, inorganic growth, with the vision of quickly becoming the top independent provider of technology-enabled data solutions for the U.S. real property market. Management knew that in a complex market like theirs, they would need investors with broad experience in building sales teams, channels, and strategic relationships, as well as experience accomplishing a range of acquisition types. Additionally, RedVision’s CEO had built and sold his prior business with funding and counsel from one of Updata’s partners. So when the Parsippany, NJ-based company needed to explore funding sources, it turned to Updata for a combination of growth capital and board-level strategic assistance.
Updata’s initial capital infusion funded the rapid expansion of sales and marketing, quickly followed by two acquisitions, for which the Updata team provided sourcing, due diligence, negotiation, and integration assistance. When a subsequent acquisition opportunity emerged, Updata provided additional funding and worked closely with management to secure a second round of funding from additional outside investors.
Since Updata teamed with RedVision in 2007, the company has experienced very strong growth and successfully navigated the ups and downs of the real estate market. Updata’s expertise helped guide RedVision through the complexities of integrating multiple acquisitions while its network and introductions have resulted in significant client relationships. Based on its leading position in the market for real property data and services, RedVision was acquired by First American Title in 2016.
“A lot of investors might not have been willing for us to be opportunistic. But Updata had the same instincts, and they trusted ours. They have the business and operating experience to understand challenges and not to hit the panic button. That helps greatly.”
– Brian Twibell, CEOPortfolio Page