Education and tech company Clever Real Estate has acquired Gravy Technologies, a startup that has built the first loyalty rewards platform for first-time home buyers. As part of the acquisition, Gravy’s Team, led by co-founders Jeff Dinter, Jimmy Lien and Will Dunn, will join the Clever team.
Gravy was launched in 2021 to gamify the home-buying journey with a rewards program and financial fitness tools that help aspiring homeowners get mortgage-ready faster. To date, the Gravy app has helped over 30,000 people prepare for homeownership and earn $20 million in rewards.
“Clever gives us a platform from which to expand the scope of Gravy’s mission,” said Jeff Dinter, Gravy co-founder and CEO, who is joining as Clever’s vice president of product. “In the future, our tech will serve not only renters but also homeowners, sellers and repeat buyers. With Clever, we’re tapping into an engaged audience of over 10 million people each year coming to Clever for online advice, data, and education — who we can now bring into personalized interactive experiences inside the Gravy platform.”
In addition to its consumer app, Gravy also provides a “loyalty-as-a-service” (LaaS) solution for real estate agents and mortgage lenders to offer a white-labeled loyalty app to its customers. The 2022 Loyalty Barometer Report by Merkle showed that 79% of consumers are more likely to do business with a company because of its loyalty program. With Gravy’s technology, any real estate professional can launch their own loyalty program, rewarding their clients for taking steps to get educated and financially prepared to buy a home.
Since 2017, Clever has saved customers more than $160 million on realtor fees, with an average 5.0-star rating based on 2,600-plus verified customer reviews on Trustpilot. It recently launched Clever Pro, an all-in-one solution that empowers mortgage lenders to drive higher profits and provide more value to home buyers.
