Small Business Development Group, Inc. (SBDG) recently announced that one of its portfolio companies, Appraisal 3000, Inc., has launched a new software platform and website. Appraisal 3000 is a California-based real estate appraisal management company. This is the first step in the development of a vertical of real estate holdings for SBDG, the company said in a press release.
“From the beginning of my discussions with SBDG about being acquired, they made it clear that they wanted us to expand operations, and that they would assist in the process,” Robert Lilley, founder and CEO of Appraisal 3000, said in the release. “With the SBDG team backing Appraisal 3000, our dream of expanding the Company has begun. We are now licensed in the states of North Carolina and South Carolina and have opened a new office in North Carolina in the fast-growing Raleigh-Durham region.
“We are now working on Texas, with Arizona, Nevada, and Florida to follow. With SBDG’s assistance, we now have a new appraisal management software platform that is completely integrated with our new website, and with the capacity to support our expansion nationally,” Lilley added.
Appraisal 3000 is based in Southern California and currently performs real estate appraisals throughout the state. Management has long standing relationships in the real estate industry, and has been growing steadily since inception, with 2020 revenue totaling more than $600,000, 2021 revenue at $800,000, and positioned for additional growth in 2022. With an infusion of capital, technology, and human resources, SBDG plans to support existing management and expand operations throughout California and into the Carolinas, Texas, Nevada, Arizona, and Florida in 2022.
“With the new office and now licensed for operations in North and South Carolina, Appraisal 3000 will have access to additional resources because they will be close to SBDG headquarters,” SBDG Chair and CEO Roy Y. Salisbury said. “Having Appraisal 3000 in the SBDG portfolio gives us an operational foundation for a Real Estate vertical. Robert Lilley and team have done a great job continually growing their business, and now we look forward to helping it reach its fullest potential, as well as their help with our new ventures.”
Appraisal 3000’s new platform includes full CRM and reporting capabilities, marketing campaign integration, and has been designed for ease of use for the end user, while being robust enough to handle expansive growth.
“The first part of the plan in acquiring Appraisal 3000 was to utilize our resources to assist in areas that will generate immediate growth. This has included resources such as needed technology, digital media marketing, staff, and strategy. With the new platform, we skipped a beta launch and went active at the beginning of March. Existing clients had rave reviews,” SBDG Chief Operating Officer Brian Jue said. “The Appraisal 3000 team will focus on the business growth in California, development in the Carolinas, and expansion into other states while we at SBDG management will pursue other areas of growth, including additional acquisitions. Appraisal 3000 is a great foundation as SBDG’s lead into our future portfolio of real estate centric businesses.”