- Toronto-based Voxtur Analytics (VXTR) announced its first quarter results
- The real estate technology company achieved a 183 per cent increase in revenue year-over-year for the first quarter
- The merger that resulted in the company’s name change from iLOOKABOUT to Voxtur laid the foundation for future growth
- The first full month of operations for the merged entity resulted in revenue of approximately C$7.3 million
- Voxtur Analytics is up 4.49 per cent, trading at $0.93 at 2:54 pm ET
Toronto-based Voxtur Analytics (VXTR) announced its first quarter results.
The real estate technology company achieved a 183 per cent increase in revenue year-over-year for the first quarter.
The company achieved its first milestone of the quarter with the merger of iLOOKABOUT Corp., Voxtur Technologies, Bright Line Title, and certain technology assets of James E. Albertelli.
The merger was a turning point that resulted in the company’s name change from iLOOKABOUT to Voxtur and laid the foundation for future growth. The first full month of operations for the merged entity resulted in revenue of approximately C$7.3 million.
The company achieved a second milestone by closing an oversubscribed, non-brokered private placement of common shares of the company for gross proceeds of $35 million.
Voxtur has also entered into an agreement to acquire Appraisers Now, an automated appraisal workflow management platform for the global appraisal market. The acquisition of Anow bolsters the company’s recurring revenue stream and accelerates the development of its data ingestion engine.
“The success of the private placement is a sign of confidence from our investors and reflects their belief in and support for our growth strategy. This infusion of capital will allow us to accelerate our strategic plan. More specifically, we will use this money to grow and scale our platforms across North America, creating efficiencies for our stakeholders and increased returns for our investors,” said Voxtur CEO and Chairman Gary Yeoman.
The company will host a conference call on Wednesday, June 2 to review first-quarter financial results and discuss corporate developments.
Voxtur offers automated workflows and targeted data analytics to simplify property valuation, tax solutions, and settlement services for investors, lenders, government agencies and mortgage servicers.
Voxtur Analytics is up 4.49 per cent, trading at $0.93 at 2:54 pm ET.
