Contxto – Brazilian proptech Loft is embracing (and buying) the power of data, following its full acquisition of Spry, a market research company. The price for this action was not disclosed.
With its new purchase, Loft wants to gather and further analyze more data about potential customers. Meanwhile, all of Spry’s staff will move on to work for the proptech from São Paulo.
Fernando Salaroli, Spry’s Founder, has also been incorporated into the unicorn’s operations under a leadership role.
Customer outreach startup
Spry employs field agents to gather information from customers throughout many parts of Brazil. The info they gather is loaded onto Spry’s platform, which in turn, audits the information. Businesses interested in getting to better know their potential customers used Spry’s services.
This research startup had previously worked with Rappi, P&G, and Ambev.
Now, however, all its attention is for Loft.
Loft and Spry, a relationship in the making
What convinced the unicorn’s leadership to move forward and complete the acquisition which had initiated since last year?
Four words, three concepts: history, culture, and need.
Let’s break it down.
Loft‘s Co-founders, Florian Hagenbuch and Mate Pencz, had worked with Spry in their previous startup, Printi, before it was sold and Loft was born. Spry then went on to work with the proptech as well.
Likewise, sources report that culture compatibility between the pair of startups was another motive.
And third, Loft’s leadership acknowledged they needed talent for data research. AKA, the call for acqui-hiring helped drive the acquisition decision home.
Related article: How to integrate an acqui-hire. Gympass’ plan for Flaner is full of hicup-portunities
The proptech ultimately determined that to collect and study information with greater speed, it would need Spry full-time.
And in order to understand its target market, Loft will rely on Spry’s technology as well as its 100+ researchers that are already awaiting the unicorn’s instructions. Moreover, groundwork is underway in three neighborhoods in São Paulo. But more areas and cities are to come throughout the year.
In January, Nubank acquired Plataformatec and iFood bought Hekima. Just two months ago, Gympass gobbled up AI-startup Flaner. Now more recently, Loft has purchased Spry.
Is it just me or is all this acqui-hiring getting crazier out there?
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