Skyline AI, a real estate investment technology company raised $18 million in its Series A funding round to continue the development of its proprietary artificial intelligence technology. The company claims that its technology, which is powered by artificial intelligence and machine learning helps investors make more money on institutional-grade commercial real estate investments.
Sequoia Capital and TLV Partners led the investment charge, but perhaps most interestingly, the young company garnered attention and dollars from JLL’s tech startup investment fund, JLL Spark, as well.
The investment marks one of the first for JLL Spark's recently launched $100 million tech investment fund.
"On the heels of launching our $100 million JLL Spark Global Venture Fund, we are excited that Skyline AI is one of our first investments," Yishai Lerner, co-CEO of JLL Spark said in a statement.
"When we saw what the Skyline AI platform could do, we knew immediately that their technology is going to play a significant role in the commercial real estate investment market," Lerner added. "JLL wants to be at the forefront of leveraging advanced technology for our clients and for the industry, and the Skyline AI team has the expertise and vision to complement JLL's commitment to innovation."
Also participating in the funding round were NYCA Partners, Arbor Ventures and iAngels.
Skyline was able to raise the $18 million in just four months after its $3 million seed funding round, which means that whatever this platform is capable of is making, its investors salivate.
Skyline’s description of its platform capabilities says it mines data from 130 sources, analyzing 10,000 attributes on each asset for the last 50 years. The platform is powered by natural language processing and a high-performance data infrastructure. It compiles all the data into a “data lake,” and cross-validates to ensure that its predictions on an asset are deadly accurate.
"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," Haim Sadger, partner at Sequoia Capital said in a statement.
"What we did not know is how fast the multi-trillion-dollar U.S. 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," he added.
"While artificial intelligence has already transformed a number of industries, the commercial real estate market is still lagging behind," Eitan Bek, managing partner of TLV Partners said in a statement.
"[Founders] Guy [Zipori], Or [Hiltch], Iri [Amirav] and Amir [Leitersdorf] assembled an exceptional, multidisciplinary team at Skyline AI to address this market through their proprietary AI-driven platform. We believe that Skyline AI has infinite potential in this multi-trillion-dollar market."