Sydney, AUSTRALIA, 9 June 2021. Australian property technology start-up, Propic has closed its oversubscribed Series A raise with a $6 million investment from ACM (Australia Community Media)’s Antony Catalano and Alex Waislitz. The investment propels Propic to provide Artificial Intelligence (AI) solutions to real estate agents and property managers, also benefitting any Australian interested in buying, selling, or renting real estate by giving them 24/7 access to property information.
Propic has developed two AI property technology (Proptech) solutions enabling real estate agents and property managers to respond and communicate with consumers via automated conversational or text AI any time of day or night. Its platform also tracks every property in Australia, every day.
The fast-growing company already has some of Australia's leading real estate brands as customers. CEO and founder Jeffery Gray was on the Domain executive team during Antony Catalano’s four years as Domain CEO.
Jeffery Gray, CEO of Propic, said:
"Our vision is to intelligently connect people and places with the services they need in real estate, in their time and place. To do this, we use Artificial Intelligence (AI) to improve how buyers and tenants engage around property transactions. Our solutions also enable agents to leverage a data platform that finds appraisals and listings for them.”
Recently Propic was selected as one of six companies in the Asia Pacific to join the global Proptech Accelerator Program REACH run by Second Century Ventures, the VC arm of the National Association of Realtors in the USA.
Antony Catalano, investor and Australian Community Media owner, said: "What is apparent to us is that AI and big data will play a material role in Real Estate, as we’re seeing in just about every other vertical. To have world-leading solutions being developed here in Australia is fantastic to see, particularly when you look at the global application of the Propic tech platform.”
"We are excited by the investment and support of Antony and Alex. This funding will accelerate a significant scale-up in our business, proving Australia can lead in the technology space. We genuinely believe our solutions will become ubiquitous, transforming the customer and agent experience here and overseas," Mr Gray concluded.
Melbourne based independent advisory firm, Henslow acted for Propic through the Series A raise.