Real Estate Machine Learning Platform Skyline Secures $18 Million

Real Estate Machine Learning Platform Skyline Secures $18 Million
Share this:

Presently, small companies or startups are increasingly engaging in fundraising exercise in a bid to facilitate and bolster their operations. For instance, Skyline AI, a real estate investment startup, recently revealed that it had managed to raise a staggering $18 million in a Series A round of funding. This exercise took place about four months after become known to the public with $3M in seed financing.

TLV Partners and Sequioa Capital, a returning investor, led the round of funding. Other investors that took part in the fundraising activity include JLL Spark, a JLL’s division of real estate investment management. What’s more, the announcement revealed that the strategic funding would allow Skyline AI to include additional asset classes into its platform.

According to Skyline AI, its platform utilizes both machine learning and data science algorithms in assisting institutional investors to make well-informed decisions regarding properties. It also said that its technology is trained on what the company refers to as the most all-inclusive data set in the industry. The data was gathered from over 100 sources, boasting market information spanning for the past 50 years.

Skyline AI ’s technology is intended to deliver more precise and faster analysis in comparison to conventional techniques. Hence, investors have the opportunity to respond more rapidly to changes affecting the real estate market. Guy Zipori, the co-founder and chief executive officer of Skyline AI, wrote an email to TechCrunch citing that the positive response from investors led the startup to conduct its Series A round soon after coming out of its stealth mode. He also emphasized his remarks by saying that the funding round was oversubscribed.

According to Zipori, the timing of the financing round blended perfectly with Skyline AI ’s expansion and deal flow plans. The startup has been quite busy for the past several months ever since it emerged from stealth. In fact, back in June, Skyline Ai joined forces with an undisclosed partner in the United States in a move to acquire two Philadelphia-based residential complexes for a whopping $26 million. Later in July, the company announced a collaboration with Greystone, a real-estate investment, advisory, and lending company.

JLL and the other investors involved in Skyline AI’s Series A round would allow the startup to include both underwriting and analysis to its platform for its new asset classes such as office, retail and industrial properties. According to Zipori’s statement, the move would then allow Skyline AI to reinforce and deepen cooperation with the foremost commercial real estate investment companies within the United States.

Some of the money raised would also be used to fund the startup’s data science, AI, as well as research and development teams based in Tel Aviv. It would also be spent on its recently unveiled New York-based sales and real estate office.

Haim Sadger, Sequoia Capital partner, said in a press statement that the firm had witnessed AI disrupting several traditional industries and the real estate market is not an exception. He completed his statement by saying that the capability of Skyline AI tech to comprehend a large volume of data affecting real estate transactions would unlock billions of money in unexploited value.

Source TechCrunch

Share this:

Leave a Reply

avatar
  Subscribe  
Notify of