VCs exit Propertybase to Boston Logic

Neuhaus Partners, High-Tech Gründerfonds (HTGF), Bayern Kapital and Bayerische Beteiligungsgesellschaft all reported a successful exit.

Acquirer Boston Logic provides estate agents with marketing and design services, and software. Markus Kreßmann of HTGF explained in a statement that the acquisition would give rise to significant synergies due to this overlap.

Previous funding
HTGF led a funding round for Propertybase in May 2010. Bayern Kapital and Neuhaus Partners also participated in the round. Bayern Kapital is thought to have introduced HTGF to the round, which in turn suggested Neuhaus.

Company
Founded in January 2010, Propertybase develops software-as-a-service platforms for real estate sales. It has developed a front-and-back-office sales, marketing and service application for real estate brokers and developers, using the force.com cloud-computing platform by Salesforce. The company has clients in 60 countries, and offices in Munich, Colorado and Utah.

People
Neuhaus Partners – Matthias Grychta (managing partner).
High-Tech Gründerfonds – Markus Kreßmann (investment director).
Bayern Kapital – Thomas Manitta (investment manager).
Bayerische Beteiligungsgesellschaft – Alexander Ullmann (project manager).
Propertybase – Max-Michael Mayer, Michael Wenglein (managing directors).

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• Topics
• Exits
• DACH
• Technology
• Germany
• Venture
• High-Tech Gründerfonds
• Bayerische Beteiligungsgesellschaft mbH (BayBG)
• Trade sale