News September 12, 2017

Comprehensive and Open Real Estate Platform Propels MRI Software to 136% Increase in New Clients, 15th Consecutive Quarter of Revenue Growth

By MRI

Company Also Lays Groundwork for Future Growth with Partner Connect Program Expansion and Announcements of New Solutions: MRI AnalytiX and MRI Inspections

Solon, Ohio – September 12, 2017 – MRI Software, a global leader in real estate software solutions, today announced that strong demand from real estate owners, operators, and investors for a comprehensive and open software platform has propelled MRI to its best quarter in company history. In Q2 2017, MRI Software saw 136 percent growth in new clients over the same period in 2016 and posted its 15th consecutive quarter of revenue growth.

Strong adoption by MRI’s existing client base of two recently acquired solutions now integrated into the company’s Residential Suite also contributed to the record growth in the second quarter. CallMaX, an automated communications solution, and ResidentCheck, a resident screening service, were widely embraced by MRI’s multifamily clients. Growth was also strong in the EMEA region, including demand from the nascent residential market in the United Kingdom.

With an open architecture approach, MRI gives clients the freedom to deploy the best solutions to match their needs instead of being locked in to a single vendor’s components. MRI’s Partner Connect program – the ecosystem that supports MRI’s open and connected platform – continued to grow in Q2 with the addition of eight new partners. Additionally, MRI’s API library grew to more than 300 APIs, which makes it easy for clients to integrate software from vendors who are part of the Partner Connect program. Clients made more than three million calls to these APIs in Q2.

MRI also laid the foundation for future growth with the announcement of two new solutions during the quarter: MRI AnalytiX and MRI Inspections, powered by HappyCo. MRI AnalytiX provides an engaging, immersive experience that empowers real estate business users to visualize complex data easily, identify trends, understand the underlying causes behind those trends and, ultimately, make better, faster decisions around property management, finance and investments. MRI Inspections is a mobile inspections solution that provides real-time intelligence to reduce costs, optimize turn, and drive quality assurance across multifamily real estate portfolios.

“MRI Software is turning the real estate tech industry on its head with our flexible and open approach to meeting the unique needs of each business. We are committed to liberating real estate owners, operators and investors so they can build their success their way,” said Patrick Ghilani, Chief Executive Officer at MRI Software. “Real estate businesses are clearly seeing the value in a platform that enables them to choose the best solutions for their organizations, and, as a result, we just achieved the best quarter in the history of the company, with record bookings, revenue and profitability. I couldn’t be more proud to be a part of our passionate, innovative and hard-working team.”

About MRI Software

MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

CONTACT INFORMATION:

Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541-207-3461

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