PropTech Firm Logs Three-Year Revenue Growth of 161%
Solon, Ohio – August 20, 2020 – MRI Software, a global leader in real estate software solutions, was named to the Inc. 5000 list of fastest-growing private companies in the United States. The list, compiled by Inc. Magazine, is regarded as the definitive ranking of the nation’s most successful independent businesses based on revenue growth from 2016 to 2019. MRI Software increased its revenue by 161% during this time.
“This honor is a testament to the MRI team’s successful execution of a strategic growth plan underpinned by a renewed focus on innovation, expansion into new geographies and adjacent market sectors, and a commitment to building an open and connected ecosystem for real estate software,” says Patrick Ghilani, Chief Executive Officer of MRI Software. “MRI pioneered the real estate software industry nearly 50 years ago and continues to fuel digital transformation for our clients through the efforts of our dedicated employees. We take great pride that our passionate commitment to the sector has been remarkably resilient and that our actions are creating growth and opportunities that set the stage for an even brighter future.”
In the three years from 2016 to 2019, MRI’s growth execution saw its employee base nearly triple to 2,000 professionals and its enterprise client base rise to more than 9,500 clients, representing over three million users in some 170 countries who rely on the company’s applications to run their daily real estate operations.
Notable milestones of recent years include:
- MRI enriched its flagship single experience platform with the launch of MRI Application Gateway, a unified point of entry for all MRI, partner and third-party applications, providing enhanced data integration and cross-functional workflow capabilities through secure, single sign-on access. Integrated reporting and analytics tools boost productivity and improve strategic decision-making as part of an open and connected ecosystem;
- The incorporation of advanced technologies like artificial intelligence and machine learning have been introduced to the MRI suite of products. MRI Contract Intelligence, an AI-powered lease abstraction tool, enables commercial landlords and tenants to extract and strategically leverage lease data;
- MRI Living, the company’s comprehensive residential property management solution, today accounts for nearly half of MRI’s revenue as a result of significant investment in lead management, payments, resident screening, automated communications and multifamily insurance solution offerings;
- MRI dramatically increased its market presence and footprint in the UK, South Africa and Australia, adding some 800 employees and 4,500 enterprise clients in Europe, Africa and the Asia Pacific region;
- MRI’s entrance and/or expansion into key real estate subsectors also drove meaningful growth and, today, MRI is a leading provider of software and services for government-subsidized housing providers, real estate agencies and corporate occupiers globally;
- Membership in MRI’s Partner Connect program increased by 98% between 2016 and 2019 through the addition and expansion of key verticals such as Payments, Payroll, Maintenance and Utilities, Smart Home, and Capital Planning and Project Management, providing greater choice and flexibility for clients to integrate best-fit technologies with their MRI solutions.
MRI Software ranks 2544 on the Inc. 5000 list. Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000.
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 modelling 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 gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.
(US for MRI)
Rachel Antman (+1 212-362-5837)
(UK) Platform Communications for MRI
PJ Chou (+44 20 3219 5837)
Zoe Mumba (+44 7725 832393)
or Hugh Filman (+44 7905 044850)