Breaking Property News – 05/06/24
Daily bite-sized proptech and property news in partnership with Proptech-X.
Nurtur unveils strategic move to accelerate innovation and AI integration
Full disclosure I (Andrew Stanton) was until December 2023 a NED of nurtur.accelerator part of the nurtur group, but the following is a Press release that has been published in its entirety for balance. But from my viewpoint as a professional in the Proptech industry, at last there is a clear distribution nexus model for agencies to digitally transform their businesses without all the confusion, they just need to shop at the nurtur.tech store.
Press Release London June 2023 – Nurtur, a leading provider of digital marketing and communication solutions within the homeowner and home mover space, recently announced a transformative strategic decision to divest its nurtur networks arm, which includes the esteemed brands Fine & Country and The Guild of Property Professionals.
This move enables the company to sharpen its focus on its award winning, market leading technology solutions and advancing Artificial Intelligence (AI) integration and innovation across its ecosystem.
This strategic move underscores Nurtur’s unwavering commitment to delivering unparalleled value to its customers. By streamlining its operations and reallocating resources towards enhancing AI capabilities, Nurtur is poised to revolutionise the digital marketing and communication landscape, empowering businesses with real-time insights and actionable intelligence derived from customer interactions.
“Our decision to divest the nurtur networks arm is a strategic step towards consolidating our position as a market leader in the homeowner and homemover sphere,” said Jon Cooke, CEO of Nurtur. “By refocusing our efforts on integrating powerful AI capabilities throughout our software and services, we are positioning ourselves and our customers for unprecedented success.”
With this strategic move, Nurtur reaffirms its commitment to driving innovation and staying at the forefront of technological advancements. By leveraging AI to dynamically surface actionable items and insights, Nurtur is equipping its customers with a competitive edge unmatched by their peers.
“We are pleased that the buyer of nurtur networks happens to be one of Nurtur’s largest customers, fostering a close affiliation with the teams with whom we have worked with for many years,” added Cooke. “We wish them all well as they embark on their new and exciting journey of growth within the real estate industry.”
Matthew Siebert, Partner at Toscafund, the long-term backer of Nurtur adds: “As a long-term shareholder, Toscafund is supportive of this transaction. Nurtur is now the largest supplier of Marcoms solutions to estate agencies in the UK and we believe a streamlined strategy dedicated to offering innovative AI capabilities will power the group’s next growth phase.”
Nurtur remains steadfast in its dedication to delivering exceptional service and value to its customers. The company will continue to operate under the name Nurtur, reflecting its commitment to nurturing growth and innovation through advanced AI technologies.
Clive Beattie to leave nurtur.group as Chief Financial Officer
Following the successful completion of the sale of its Networks division to The Property Franchise Group (“TPFG”), nurtur.group announces that Clive Beattie, Group CFO, will be leaving by mutual agreement. Clive joined the group in January 2023 to consider and implement strategic options for shareholders. Having identified a sale of the Networks division as the preferred short-term strategy to maximise shareholder value, Clive led the process that culminated in the sale of the business to TPFG.
The remaining businesses in nurtur.tech, the outcome of a series of acquisitions in recent years, have been integrated onto common platforms and enhanced reporting systems have been implemented. With a streamlined team in place, nurtur.tech is well positioned for growth and to deliver further returns to shareholders in the medium term.
Jon Cooke, nurtur.group CEO, commented “I would like to thank Clive for all his hard work in the time he has been with us, in particular for his leadership in overseeing the exit from our Networks division for our shareholders. On behalf of myself and the Board, I wish him the best in his future endeavours.”
Andrew Stanton Executive Editor – moving property and proptech forward. PropTech-X
You May Also Enjoy
This property type is setting a new standard
Ahead of the Autumn Budget: What landlords and brokers should watch for
Thousands of HMOs still contain life-threatening hazards
FMB launches first construction training academy to tackle workforce shortages
Tackling cost escalation in international construction projects