Digital Platform Company Acquires Another Retail Energy Shopping Platform (Broker)

Red Ventures last week announced the acquisition of Allconnect for an undisclosed amount.

In addition to offering customers in the process of relocation the ability to sign up for various home services (including retail energy supply), Allconnect also offers a retail energy shopping platform

Red Ventures recently purchased online retail energy marketplace Choose Energy and also owns SaveOnEnergy

"The acquisition positions the combined company to scale its home services marketplace and expand its footprint within the valuable mover segment," Red Ventures said

"Red Ventures has a strategic focus on the mover category and services associated with the moving process. Its Home Services division includes integrated partnerships with large brands across the media and communications, security, and energy categories as well as a proprietary mover platform, which includes a long-term partnership with the United States Postal Service and exclusive access to market to 39 million movers throughout their move journey," Red Ventures said

Allconnect was a portfolio company of Covestco and Maveron, among other investors.