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Real Estate Software Leader Sierra Interactive Joins ASG to Fuel Next Phase of Growth and Innovation
LOUISVILLE, KY & WALNUT CREEK, Calif. – Oct. 13, 2022 – Today, Sierra Interactive (“Sierra”), whose software streamlines lead generation and nurturing for thousands of real estate teams in the U.S. and Canada, announced that it will join ASG, a portfolio company of Alpine Investors that buys and builds vertical SaaS companies.
“This year marks our 16th in business. We have grown steadily throughout that time, but over the past five years our growth has accelerated. With that growth, we began to get a real sense of the huge opportunities in front of us — as well as the challenges that would come along with them,” said Sierra Founder, Ben Peskoe. “To keep delivering new, innovative features and support at the scale and pace we wanted to, we needed to find a partner whose vision for Sierra was as big as our own, and we found it in ASG.”
“We are thrilled to expand our footprint within real estate software,” said Alice Song, President & Head of M&A at ASG. “Sierra has built an incredible product that helps real estate agents and teams accelerate their business. We’re excited to empower Sierra and its talented team in their next chapter of growth, while leveraging what we’ve already learned about real estate tech from our acquisition of loan officer software leader Homebot in 2020.”
Headquartered in Louisville, Kentucky, Sierra Interactive was founded in 2007 by Ben Peskoe. Today the company has grown to more than 85 team members working remotely across the U.S. and the globe. Sierra supports thousands of top-performing real estate agents and teams in over 400 North American markets. Founder Peskoe and COO Brandon Hedges will continue to help lead the business. They are joined by incoming CEO Peter Maglathlin, an experienced software leader who has co-founded and operated multiple businesses, and CTO Jeffrey Campbell, who has led technology teams and programs at several startups and most recently at Stripe.
“Teams and their agents remain at the heart of the residential real estate transaction, despite the many attempts at “disrupting” the industry over the last decade. It’s very exciting to join a company that serves those teams and agents directly, with software to help them close even more deals. Sierra’s world-class team and software will have even more impact in a changing real estate market.” said Maglathlin.
Peak Technology Partners served as financial advisor and Dentons acted as legal counsel to Sierra Interactive. Willkie Farr & Gallagher LLP served as legal counsel to ASG.
About Sierra Interactive
Sierra Interactive develops residential real estate software and services for agents, teams and brokers in the U.S. and Canada. Sierra’s proven lead generation and management solutions are trusted by top-performing teams and influential coaches in the real estate industry. Founded in 2007, Sierra is headquartered in Louisville, KY, but has a remote-first workforce across the U.S. and the globe.
ASG, backed by Alpine Investors, is a unique and fast-growing software business that buys and builds market-leading vertical SaaS companies. ASG believes deeply in the power of people and data to grow great organizations, and that sharing knowledge, expertise, and resources across its community of businesses drives exponential growth. Founders of leading SaaS companies continue to trust ASG to grow their businesses and build even stronger legacies for the future.
About Alpine Investors
Alpine Investors is a people-driven private equity firm that is committed to building enduring companies by working with, learning from, and developing exceptional people. Alpine specializes in investments in the software and services industries. Its PeopleFirst strategy includes a talent program which allows Alpine to bring proven leadership to situations where additional or new management is needed post-transaction. Alpine is currently investing out of its $2.25 billion eighth fund. For more information, visit http://www.alpineinvestors.com.