Real estate is a tough market to crack, but Tel Aviv, Israel-based Skyline AI thinks it’s up to the task.
The startup today announced an $18 million funding round led by Sequoia Capital and TLV Partners, with participation from JLL Spark and others. (JLL’s investment comes from its Spark Global Venture Fund, which was established to deploy $100 million into companies leveraging technology to improve real estate development, management, leasing, and investing.)
“Over the last few years, we’ve seen AI disrupt a number of traditional industries, and the real estate market should be no different,” Sequoia Capital partner Haim Sadger said in a statement. “The power of Skyline AI technology to understand vast amounts of data that affect real estate transactions will unlock billions of dollars in untapped value.”
The company’s innovative machine learning-powered platform taps a proprietary dataset of more than 130 sources, some going as far back as the last 50 years. Algorithms analyze over 10,000 attributes on each data asset, compiling them into a database architecture known as a data lake and cross-validating each one individually to ensure their accuracy.
The platform can make predictions within “seconds,” said Skyline cofounder and CEO Guy Zipori, who claims it’s the most comprehensive system of its kind in the industry. He’s not afraid to put his money where his mouth is — earlier this year, Skyline acquired two residential complexes in Philadelphia for $26 million, after its platform determined the properties were being mismanaged.
“Commercial real estate is coming…