DALLAS, March 3, 2015 /PRNewswire/ -- Rapoport Investments, LP, a company headed by Angel Investor Neal Rapoport, announced the acquisition of a majority stake in RentEval, a real estate services smartphone application, to become an industry leader in property evaluation technology.
The RentEval application won an investment from Code Authority, Inc., a Frisco, TX based custom software company at CodeLaunch 2013, an annual competition of embryonic stage technology startups. Since then, RentEval has garnered interest from large scale property management groups and entrenched real estate technology companies.
RentEval offers a mobile property evaluation application which streamlines an otherwise tedious property management task. Using this application, property managers can document the condition of a unit, suite, or home using an intuitive interface. With RentEval, reports can be generated which include photographs and notes captured on site.
Adding to RentEval's success, Tech Wildcatters - a Dallas based mentor-driven seed funding and technology accelerator - accepted RentEval into their program for the 2015 year.
Under Rapoport Investments, LP, RentEval will continue to use its existing leadership structure headed by founder Cheri Garcia, a serial entrepreneur. RentEval clients can expect to continue to receive the same high quality services they have come to expect in addition to near immediate improvements to products and services.
The acquisition of RentEval was accomplished partially through an undisclosed six-figure buyout of the shares held by Code Authority, Inc. by Rapoport Investments, LP. "I am excited about the acquisition of the Code Authority stake in RentEval. After reviewing the technology, team & product, I know this will be a winning business and I'm looking forward to not just being an investor, but joining the company full time. Without CodeLaunch this may have stayed as an unfunded idea, so I'm grateful that CodeLaunch made it possible," explained Neal Rapoport.
Jason W. Taylor, president of Code Authority, Inc. (producers of CodeLaunch) added "We are proud to have seed funded RentEval. Our exit is exactly what our goal has been from the beginning. To propel everyday people and their great app ideas into successful businesses." CodeLaunch is accepting applications for the 2015 competition through May 31.
SOURCE Code Authority, Inc.