About the project
The platform is a unique marketplace for sellers to remain confidential and for buyers to expand their reach to on & off-market nursing homes and assisted living facilities for sale. Buyers are able to use the 1Konnection platform to make deals they normally would not have the ability to get access to.
Likewise, sellers/owners can come to the platform and confidentially list their businesses to be matched with potential buyers. The 1Konnection platform will perform the matching between buyers and owners and let them negotiate the deal online. If the match is made, the 1Konnection platform will be paid a buyer’s referral fee after closing the deal.
There are three main personas in the industry for the acquisition marketplace: buyers, sellers, and brokers. Industry decision-makers фку both buyers & sellers. Like other real estate industries, seniors housing real estate is a complex transaction and it often entails having a broker represent the seller to find the right buyer and facilitate a deal.
Due to the confidentiality and fragmentation of the industry, buyers lack access to deal opportunities and often miss out on deals they would have purchased. Today, brokers are a necessity to help facilitate the process. However, brokers are overwhelmed and operate highly manually so they are unable to scale and actually have to turn away deals because they are only paid upon the close of transactions.
Challenges that was faced and overcame
Our experienced engineers employ the latest technologies, frameworks, and components to create solution that combine a strong easy-to-use modern design with high performance.
Our assistance allows 1Konnection to create the platform tailored to the needs of users, both sellers and buyers. The CyberCraft team has developed the platform from scratch, introduced an AI-powered matchmaking algorithm v2, set up a hosting server on Azure, adopted e-signature features, and performed other tasks that boosted the platform.
- Market research;
- Experimenting with manual processed to obtain proof of concept;
- MVP Launch;
- ~$25M listed deal volume;
- Users ~800;
- Deals ~20.
- Matchmaking Algorithm – v1 static;
- March – 1st revenue / 1st transaction closes from 1Konnection;
- June – 2nd transaction closes from 1Konnection;
- ~$1.4B listed deal volume;
- Users ~3000;
- Deals ~200.
- Website 2.0 – Full Redesign + tons of new features (online deal communication);
- Matchmaking Algorithm – v2 dynamic AI-powered;
- Mobile App 1.0 – already ~250 active users (1st week after release);
- ~$2B listed deal volume;
- Users ~7000;
- Deals ~300;
- ~10 deals closed on the 1Konnection platform.