9 Best AI Real Estate Startups With Funding Of 2024
The advent of artificial intelligence (AI) and the rise of real estate AI companies have caused a paradigm change in the real estate sector. Appraisers, mortgage lenders, developers, and homeowners have all seen tremendous changes in their daily operations as a result of this ground-breaking technology.
In this piece, we examine the creative Real Estate AI startups and businesses that have emerged over the last five years and how they are using AI to transform the efficiency and speed of real estate transactions.
The Growth and Potential of AI in the Real Estate Industry
Real estate companies have embraced AI systems with great enthusiasm as the technology continues to gain traction in a variety of industries. According to McKinsey study, operational expenses have decreased for over half of real estate firm owners, and an astounding 63% have reported an increase in revenue as a result of using AI solutions.
In the real estate sector, the market for generative AI is also anticipated to rise significantly. Based on projections, the market is expected to reach a size of around $924.2 million by 2032, growing at a strong compound yearly growth rate (CAGR) of 11.2% between 2023 and 2032.
To fully exploit the promise of AI in the real estate market, however, established companies’ strategic considerations and investor attitude are still necessary, notwithstanding the excitement surrounding Real Estate AI Startups.
Although real estate AI startups have seen an increase in proptech venture capital (VC) investments, which have surpassed $8 billion in debt and equity investments in the first half of 2022, the real impact of AI will not materialize until this technology is incorporated into the operations of large residential firms.
Prominent Real Estate AI Startups
We have compiled a list of outstanding examples showing how businesses are using artificial intelligence (AI) to disrupt and revolutionize the real estate sector in order to give you a thorough picture of the quickly growing real estate market, including the creative contributions of Real Estate AI startups
Hyro’s webpage is hyro.ai.
Sector: Software Engineering
Size of company: 51–200 workers; founded in 2018
Headquartered in New York, USA
With the ability to facilitate hundreds of AI-powered conversations at once, Hyro is at the forefront of global communication.
How the company uses AI to solve real estate issues:
A forward-thinking business called Hyro is using conversational AI to transform the real estate sector. Even with the absence of human personnel, Hyro offers a smooth client experience via its AI chat and voice interfaces.
These sophisticated interfaces include features like property matching, appointment scheduling, lead gathering and follow-up, and precise customer service based on real-time data changes, all aimed at tackling different real estate issues.
Funding: With seven investment rounds to far, including the most recent Series B round on May 30, 2023, which brought in $20 million, Hyro has successfully raised a sizable sum of money.
Entera
Entera.ai is the website.
Sector: Real Estate; Employees: 51–200; Established: 2018
Headquartered in New York, USA
Offering seamless solutions for the purchase, sale, and management of assets, Entera, a top SaaS and services platform for Enterprise and Mid-Market Single Family Investors, is revolutionizing the real estate investment environment.
How the company uses AI to solve real estate issues:
The business uses artificial intelligence to take on real estate difficulties head-on. With the help of their state-of-the-art platform, Entera helps clients find, buy, and manage single-family homes by automating procedures and using smart analytics.
Entera’s platform is well-established in more than twenty U.S. markets and handles more than 1,000 transactions a month. With the help of this powerful platform, investors may maximize their real estate holdings and make well-informed choices.
Finances: Through two successful investment rounds, Entera has been able to raise a sizable sum of money. On June 29, 2021, the most recent Series A round raised an astounding $32 million.
Website for LocalizeOS: localizeos.com
Sector: Software Engineering
Size of company: 51–200 workers; founded in 2019
Headquartered in New York, USA
LocalizeOS, a New York City-based company with operations in South Florida, Chicago, and New York City, as well as aspirations to expand to other major U.S. metro areas, has created the most cutting-edge operating system for real estate.
How the company uses AI to solve real estate issues:
Through their ground-breaking Hunter app, LocalizeOS uses artificial intelligence to solve real estate-related problems. Using a combination of artificial and human intelligence, the Hunter app functions as a concierge messaging service that regularly engages leads from real estate brokers.
It builds a thorough profile of possible purchasers, along with pertinent details like pre-approval status and budget. Users get frequent updates on the status of their leads, and Hunter notifies them when a buyer is prepared to schedule property showings.
LocalizeOS leverages artificial intelligence (AI) to optimize lead management and provide agents with practical insights, enabling them to make well-informed choices and optimize their productivity in the competitive real estate industry. Agents using LocalizeOS close 20% more transactions than their counterparts on average.
Finances: Localize announced on August 4, 2021, that it has closed a successful $25 million Series C fundraising round.
Stump
Go to getplunk.com.
Sector: Investment Management
Size of company: 11–50 workers; founded in 2019
Principal office: Bellevue, Washington
Leading the way in real-time home analytics driven by AI is Plunk, a revolutionary business. The way investors, real estate agents, and homeowners assess and make decisions about residential real estate is being completely transformed by their platform.
How the company uses AI to solve real estate issues:
Plunk works with Milestones.ai to address the issues facing the real estate sector by providing homeowners with AI-powered remodeling guidance via their Homeowner Management System. Through the combination of Plunk’s Remodel Value and Project Recommendations, homeowners may get insightful information.
While Plunk’s Remodel worth function estimates a home’s worth after a thorough renovation, Project Recommendations classify renovations according to how much value they are predicted to add to a particular property.
Plunk’s real-time home analytics platform, which covers more than 104 million houses countrywide, allows artificial intelligence to be used to provide homeowners with advice on how to increase the value of their property.
Funding: On November 11, 2022, Plunk completed a successful venture round, the specifics of which are yet unknown.
Most likely.AI
URL: likely.ai
Sector: Real Estate
Size of company: 11–50 workers; founded in 2018
Headquarters: Austin, Texas
Most likely.The real estate business wanted access to artificial intelligence as a service, which is why AI was formed. To provide the sector the knowledge it needs to deploy resources wisely, they provide impact models, forecast models, and smart data upgrades.
How the company uses AI to solve real estate issues:
Most likely.By incorporating the potent ChatGPT language model into their collection of AI models specifically designed for the real estate sector, AI tackles issues related to real estate. While their Likely Foreclosure model finds homeowners who could be at danger of foreclosure, their Likely Seller model uses predictive analytics to identify homeowners who are most likely to sell their property in the near future.
Likely, by combining ChatGPT with very sophisticated AI models.AI helps real estate agents to design highly targeted and successful marketing programs. The language model’s comprehension of real language and capacity to produce replies that resemble those of a human enables experts to create context-specific sales copy that appeals to prospective customers on a human level.
Finance: Most likely.August 31, 2021 saw $225,000 raised in AI’s investment seed round.
Constructed AI
URL: builtai.co
Sector: Software Engineering
Size of company: 11–50 workers; founded in 2021
Headquartered in London, United Kingdom
Founded in London by Jeffrey Ng, Firoz Noordeen, and Natan Lempert, Built AI is a proptech firm. The firm provides real estate investors with data-driven insights using a software-as-a-service platform that runs on the cloud.
How the company uses AI to solve real estate issues:
Built AI uses artificial intelligence (AI) and natural language processing (NLP) to extract important information from user-uploaded property brochures, therefore addressing real estate difficulties in the commercial sector. The platform can effectively evaluate property data and provide insightful information to commercial real estate investors by using natural language processing (NLP).
By automating the extraction and analysis of pertinent data from brochures, the startup’s technology seeks to reduce the amount of time investors need to spend evaluating properties. After that, a business plan with projected rates of return for prospective investments is created using this data.
The method used by Built AI enhances the assessment of commercial real estate transactions by offering previously unavailable transparent data.
Finances: Built AI has obtained investment in three separate rounds. On July 31, 2022, the most recent seed round was held and $2.5 million was raised.
Website of CREX Capital: crexcapital.io
Sector: Investment Management
Size of company: 2–10 workers
Established: 2022
Headquartered in Berlin, Germany
Marc Wohlschlaeger, Dr. Maciej Merkel, and Michael Wetzel founded CREX Capital, bringing together a wealth of knowledge with over 50 years of combined experience in banking and commercial real estate financing.
How CREX Capital uses AI to solve real estate issues: By providing a complete end-to-end lending infrastructure and developing the idea of a regulated real estate neobank, the business seeks to transform commercial real estate finance. Their platform offers a banking-level solution that integrates AI-driven reasoning with the assessment of environmental, social, and governance (ESG) impact, therefore addressing the shortcomings in CRE finance.
The traditional CRE finance process often has laborious processes, high prices, redundancies, and opacity. High transaction costs and a significant dependence on middlemen are the results of this inefficiency. By speeding transaction speed from months to just days, cutting expenses by over 50%, and simplifying the process, CREX Capital hopes to completely change this environment.
Finances: On February 6, 2023, CREX Capital successfully raised money in a convertible note deal. The precise information about the financing amount is still unknown at this point.
Website for DataFlik: dataflik.com
Sector: Real Estate
Size of company: 2–10 workers; founded in 2020
Headquartered in Columbus, Ohio
The real estate sector may avail itself of List Stacking and Predictive Modeling services from DataFlik, an AI-powered platform.
How the company uses AI to solve real estate issues:
A real estate AI firm called DataFlik offers cutting-edge data analytics and marketing solutions to solve problems facing the sector. Their machine learning technology, created by NineTwoThree Venture Studio, allows real estate buyers and wholesalers to more precisely focus their marketing efforts by reliably identifying motivated house sellers.
To create more accurate lists, these machine learning algorithms handle enormous volumes of data from several sources, such as the US Census, National Recorder and Tax Assessor Databases, and Credit Bureau data. DataFlik’s machine learning (ML)-generated lists have produced eight times greater return on investment (ROI) for its clients than conventional lists created by human research.
Real estate agents may boost their marketing tactics because to the startup’s emphasis on data analytics and predictive modeling. By identifying homeowners who are most likely to sell, DataFlik’s List Stacking and Predictive Modeling assist save money on marketing while generating more sales.
financing: DataFlik’s financing rounds are unknown.
Zuma
Go to getzuma.com.
Sector: Software Engineering
Size of company: 11–50 workers; founded in 2021
Headquartered in Santa Monica, California
Zuma is a Santa Monica, California-based firm powered by AI. For real estate owners and rental managers, they provide lead scheduling software.
How the company uses AI to solve real estate issues:
Features like automatic lead follow-up, lead qualifying, tour scheduling, communication management, lead volume management, and tour rescheduling are all included in Zuma’s lead scheduling software. Zuma helps real estate agents save time, minimize manual labor, and increase lead conversion rates by automating these procedures.
The business developed an automated sales representative that engages with all incoming prospects by using AI and machine learning technology. This AI-powered representative converses with leads and offers tailored help and support.
Prominent angel investors, Y-Combinator, Day One Ventures, Liquid 2 Ventures (Joe Montana’s fund), Soma Capital, and other top investors have acknowledged and backed Zuma.
fundraising: According to Crunchbase, Zuma has raised money in three separate fundraising rounds. On November 18, 2021, a seed round of investment was held, during which $6.7 million was raised.
Website of Oda Studio: odaportal.com
Sector: Real Estate Technology
Size of company: 11–50 workers; founded in 2019
Headquartered in Los Angeles, California
For the real estate sector, the company Oda Studio focuses in offering cutting-edge picture enhancement, virtual staging, and digital asset management solutions.
How the company uses AI to solve real estate issues:
Using their unique artificial intelligence technology, they provide picture enhancement, virtual staging, and digital asset management services.
Using machine learning models, Oda Studio’s AI technology evaluates property photographs for both technical and aesthetic criteria. By using segmentation methods, they are able to distinguish between various areas of the picture and the items in the room. Furthermore, they provide many layers of personalized upgrades depending on the picture content and use state-of-the-art GAN models for image restoration.
Funding: On December 8, 2021, Oda Studio, which is supported by Y Combinator and MIT, was able to raise $2.8 million.
Conclusion
the thriving landscape of AI in real estate is evident through the success of the top-funded startups in 2024. These innovative companies showcase the transformative potential of AI in revolutionizing various aspects of the real estate industry, paving the way for continued advancements and growth.
Moreover, if you are looking for a Real estate development company that can help you create a future proof solution then you should check out Appic Softwares. We have an experienced team of Proptech developers that have created several real estate solutions like RoccaBox.
So, what are you waiting for?
