Updater Inc (ASX:UPD) is starting a 9-month pilot program with AT&T Inc (NYSE:T) to test various communication strategies with consumers who are moving.
The company’s shares were last trading 6.4% higher intra-day on Thursday, at A$0.75.
Founded in 2010, Updater is headquartered in New York City and has developed a technology to improve the consumer relocation process in the U.S.
With Updater, movers can seamlessly transfer utilities, update accounts and forward mail to the new address.
The primary goals of the pilot are to improve the experience for relocating consumers and prove the value of Updater’s platform for AT&T and other businesses in the telecommunications industry.
Updater and AT&T will begin initial work on a technology integration in June 2017.
Significantly, Updater’s estimated market penetration of quarterly moves processed for Q1 2017 increased 28% over Q4 2016 to 9.04%, an all-time high.
The company currently supports the moving process for circa 17 million U.S. households moving each year.
With significant market penetration of all U.S. household moves, Updater enables personalised communication between relocating consumers and the businesses spending billions of dollars trying to reach them.
Updater has already onboarded over 650 real estate company partners to its platform.
The company’s share price increased circa 67% since the start of 2017, last trading at A$0.75.