Diakrit, a global leader in real estate marketing, has acquired Virtuance, one of the nation’s largest providers of real estate photography and virtual tours. This merger brings together two major players in the real estate marketing industry and offers real estate agents, brokerages, and PropTech companies worldwide access to a vast network of professional photographers, advanced technology, integration capabilities, and cutting-edge visual marketing content and services.
Virtuance, a technology startup based in Denver, was co-founded by Jeff Corn in 2010 with the aim of equipping real estate professionals with high-quality photography and visual marketing tools to help homeowners achieve their financial goals. Over the years, Virtuance has established partnerships with renowned names in the real estate sector and currently serves over 45,000 real estate agents across 37 cities nationwide. Their services have assisted over half a million home buyers and sellers in envisioning their future properties.
Jeff Corn, Co-Founder, and CEO of Virtuance expressed his excitement about the acquisition, stating, “When we started Virtuance, we had a big vision of helping real estate professionals grow by using technology to create effective, affordable, and scalable visual marketing solutions that impress buyers, sellers, and renters alike. After eleven years, our incredible team and technology have set the standard for real estate marketing in the US. By joining forces with Diakrit, we’ll be able to elevate our clients’ expectations even further on a global scale. I’m immensely grateful and excited about what this partnership means for our team and clients.”
With over 20 years of experience, Diakrit offers high-quality property marketing content to real estate firms worldwide. Their range of services includes magazine-quality photography, 2D and 3D floor plans, 360-virtual tours, digital renovating and decorating tools, as well as video production. Additionally, Diakrit provides social media advertising, combining optimized and targeted campaigns with engaging marketing content.
Ken Brown, CEO of Diakrit, spoke highly of Virtuance, saying, “Like Diakrit, Virtuance is forward-thinking, innovative, and customer-focused. We view this as a tremendous opportunity to leverage our combined 30 years of experience, technology, processes, and property marketing content. Together, Virtuance and Diakrit will invest in an ambitious growth strategy by consolidating market share, pursuing organic growth, and further solidifying their dominance in each market through strategic acquisitions. This exciting partnership allows both companies to expand into adjacent services in existing and future markets.”
Diakrit is supported by Adelis Equity Partners, a growth partner for well-positioned companies. Adelis manages a capital of over $2 billion and has been one of the most active investors in the Nordic middle-market since its first fund in 2013.
Under the new arrangement, Jeff Corn and the entire Virtuance team will retain their positions, while the management and founders of both Virtuance and Diakrit will continue to hold significant ownership in the combined group. The terms of the private transaction were not disclosed.
Financial advisory services for Virtuance were provided by GLC Advisors, while Fortis Law Partners served as legal counsel. AQ Technology Partners acted as financial advisors, and Eversheds Sutherland served as legal counsel for Diakrit in the acquisition process.
