Real estate investment tech startup Skyline AI raised $18 million in a Series A funding round, the company announced Tuesday.
TLV Partners and Sequoia Capital, which previously invested in the startup’s $3 million seed round, led the latest round. JLL’s new real estate venture investment fund JLL Spark, NYCA Partners, Arbor Ventures and iAngels also invested.
Tel Aviv-based Skyline AI, founded in 2017, uses machine learning technology to churn through property data and identify real estate investments. The company currently focuses on multifamily, but plans to expand into new asset types. “While artificial intelligence has already transformed a number of industries, the commercial real estate market is still lagging behind,” TLV Partners’ Eitan Bek said in a statement.
CEO and co-founder Guy Zipori said he plans to use the money to open a New York office, buy more data and invest in research and design. “We feel now, more than ever, that we are onto something,” he said.
Earlier this month, Skyline AI announced a partnership with Greystone to upgrade the loan underwriting and dealmaking process.
The Real Deal broke down how A.I. could transform real estate investment in its February cover story.