AI Skyline, an Israeli start-up that uses machine learning to help real estate investors identify promising properties, announced today that it has raised $ 3 million in capital Sequoia Capital Sequoia. The round will be used to build its technology platform and engage experts in data science and machine learning.
Founded in 2017 and headquartered in Tel Aviv, Skyline AI predicts the future value of properties and also analyzes the real estate market to help investors make important decisions such as increasing rents, renovating or the sale. Co-founder and CEO Guy Zipori told TechCrunch that the founding team of Skyline AI (which also includes technology director Gold Hiltch, sales director Iri Amirav and executive chairman Amir Leitersdorf) has worked for several years in various start-ups based on artificial intelligence. including security, health care and online video. After the release of several of their companies, the four were able to find investment opportunities. They wanted to explore commercial real estate, but Zipori "was surprised by the way technology is limited in this space."
Although more and more industries are turning to data science and artificial intelligence to save time while making complex decisions, many seasoned investors still depend on Excel spreadsheets, outdated market data and their "instinct".
AI Skyline wants to escape the uncertainty of investment decisions by shaping its technology to what it considers to be the most comprehensive data set of the industry, relying on more than 130 sources and analyzing more than 10,000 attributes. years. Skyline AI technology then compiles all information into a data lake and cross-references to find discrepancies and determine what information is most accurate.
"As a comment, we were surprised to learn that asset data from different sources is often dissimilar, which means that in some cases, decisions about large transactions were based on bad data ".
One advantage of the Skyline AI system is that it is able to take into account variables difficult to include in Excel spreadsheets and other traditional methods of aggregating data, which is important in real estate because there are many factors the value of the property and its impact on rents, occupancy levels, maintenance costs and future value.
In a statement, Sequoia Capital's partner, Haim Sadger, said: "The promise of AI to transform commercial real estate investments can not be underestimated.In recent years we have saw AI disrupt a number of traditional industries and the real estate market should not be different.The power of Skyline AI technology to understand large amounts of data that affect real estate transactions, unlock billions of dollars in untapped value . "