Skyline AI raises $18mn in funding led by Sequoia Capital and TLV Partners
Skyline AI, which has revolutionised the real estate business in the United States through artificial intelligence, has raised a further $18mn in Series A funding.
The startup's proprietary platform uses advanced AI and machine-learning technology to analyse historical real estate transactions and accurately predict the value and future behaviour of assets in the country.
After raising an initial $3mn in seed funding only four months ago, Sequoia Capital and TLV Partners have led a new funding round, along with JLL, that will allow the Israeli firm to 'expand platform integration' and work closer with the United States' leading real estate investment companies.
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"We knew when we made our initial seed investment in Skyline AI that the founding team had the AI expertise and vision to truly disrupt the commercial real estate market," said Haim Sadger, partner of Sequoia Capital. "What we did not know is how fast the the multi-trillion dollar US market would recognize the true value and opportunity with Skyline AI as their partners. AI is the future of real estate analysis and underwriting and is poised to fundamentally change the way assets are acquired."
Guy Zipori, co-founder and CEO of Skyline AI, added: "Commercial real estate is coming out of the dark ages when it comes to technology. We developed a platform that injects advanced AI directly into the core of the acquisition and ownership process, leveraging the largest data set in the industry to predict the performance of any asset in the US.
"We provide our partners and investors with cutting edge asset analysis in the shortest amount of time, adding value to any commercial real estate investment, on or off the market."
Earlier this month it announced a data-sharing partnership with real estate advisers Greystone Labs but, according to reports, Skyline AI, which has offices in Tel Aviv and New York City, is also investigating the possibility of taking its unique platform to other industries.