Smart locker maker TZ Ltd nabs $4m for property tech deal

As a strong sign of confidence in the potential for the deal to unlock growth, Keyvision principal Mark Davis and the company’s senior management have also committed to buying 9.5 per cent of the outstanding capital in TZ, currently held by First Samuel.

Keyvision is an important piece of TZ’s plan to grow its recurring revenue and expand its customer base.

TZ already brings in a solid $3.9m from high-margin, recurring revenue streams. With Keyvision set to contribute an additional $1.6m in its own “sticky” annual revenue in 2025, that figure is on track for a significant boost.

If Keyvision can hit its ambitious growth targets – scaling to $3.5m in annual revenue by year four – the combined recurring revenue will almost double to $7.4m even before factoring in any expansion in TZ’s core smart-locking business.

The prop-tech space is rapidly changing as landlords and property managers increasingly use digital solutions to stay in contact with residents and improve tenant experiences.

Keyvision’s platform overlaps TZ’s existing customer base in the residential market and the acquisition appears a natural fit for TZ’s existing smart locker and access control solutions.

Management says by bringing the two businesses together TZ can start to cross-sell into both customer bases, which will help grow its recurring software as a service (SaaS) revenue streams and pave the way for sustained earnings growth.

Beyond strengthening its Australian market position, TZ is planning to use the acquisition to widen its footprint in overseas markets, especially in the United States where it already has a strong presence in the education sector. The company sees a big opportunity in introducing the Keyvision offering to student housing, faculty offices and corporate campuses.

In Singapore, where TZ is growing its relationships in the property sector, there may be immediate opportunities to roll Keyvision’s platform out to major commercial and residential developments.

TZ has a strengthened financial position, expanding market opportunities and strong backing from its funding partners, and is apparently poised for significant growth as it scales its smart property solutions globally.

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