Springboarding off our big $18 million funding announcement, our CEO, Guy Zipori, delves into Skyline AI’s ideological roots, our founders’ stories, and our broad vision for the future.
This week, we announced $18 million in funding in a Series A Round led by Sequoia Capital and TLV Partners with participation from JLL Spark, a division of JLL, Nyca, Arbor Ventures, iAngels, Mindset and Mr. Gary Wipfler. Coming just four months after our $3 million seed funding announcement, this latest round brings our total funding to $21 million.
I’m tremendously grateful to our incredible partners and investors, as well as the amazing team we’ve built at Skyline AI. Our collaboration with industry titans and veterans is paving the way for an exciting new era in commercial real estate — and we’re just getting started. When my outstanding co-founders Amir Leitersdorf, Iri Amirav, Or Hiltch and I joined forces a little over one year ago to start Skyline AI, we saw an opportunity to bring untapped value to the real estate industry by leveraging cutting-edge artificial intelligence and data science. Our new funding will help accelerate the future of AI-driven, institutional-grade commercial real estate investment.
It’s an invigorating time to be on the leading edge of change and making real estate history. Just last month, we put our theories to the test. In the first-ever AI-driven commercial real estate acquisition, Skyline AI and our investment partners used the platform to acquire two apartment building complexes in the Philadelphia area for $26 million. Based on the vast data analyzed by our systems, we determined that the assets were likely being mismanaged - and we were able to acquire the assets for substantially below the fair market value predicted by our algorithms. This was just one deal - the first of many more yet to come.
In order to scale the promise of our technology, we brought together a truly multidisciplinary team. Our company is comprised of the best of many different worlds : respected real estate veterans representing institutions with a combined $21 billion in global real estate transactions, a top-flight team of engineers who served in the Israel Defense Forces’ elite intelligence unit, and a data science team helmed by Shay Bushinsky. Shay is best known as co-creator of Deep Junior - a chess-playing computer that famously defeated eight-time world chess champion Gary Kasparov in 2003.
Now, with our new funding, we’re even further toward achieving our vision of integrating AI into commercial real estate. What’s more, the support of esteemed real estate players like JLL ensures that Skyline AI will benefit from their immense expertise and wide reach. All that combined with our tech wizardry means we’re bringing incredible brainpower to tech-driven real estate.
Among the most pleasant surprises over the past year has been the agility of traditional real estate professionals, who have shown an openness to embracing new technologies and ventures - underscoring that the market is well on its way to the future we envision. The industry has performed exceedingly well in recent years, but the coming period will witness challenges both foreseen and unforeseen, and we’re convinced that tech can help the industry and its investors maximize their game.
So what’s next for Skyline AI? As we continue pioneering innovation in AI-driven real estate, we will expand our platform integration to include additional asset classes, deepen our cooperation with the leading commercial real estate investment firms around the US, and continue to build out our industry-leading data science team. With this expansion, our algorithms will only become smarter - and so too will our investment decisions, unlocking extraordinary value for investors. Once guided by the mantra location, location, location, the commercial real estate industry stands poised to enter the age of data, data, data.