Real Estate Startup Skyline AI Raises $18 Million
The Sequoia-backed company uses machine learning to find lucrative real estate deals
Investment management company Jones Lang LaSalle IP Inc. (JLL), Tel Aviv-based venture capital firm iAngels Crowd Ltd., London-based fund Arbor Ventures, and New York-based venture capital firm Nyca Partners also participated in the round.
The latest investment brings Skyline AI’s total funding raised to $21 million.
Skyline AI uses machine learning to find lucrative real estate deals by factoring parameters including asset condition, management quality, and access to public facilities.
The company was founded in 2017 by four Israeli entrepreneurs who previously founded video content startup StreamRail Ltd., acquired by Israeli software and app monetization company IronSource Ltd. in 2016. It employs 20 people in New York and Tel Aviv.
Skyline AI is solely focused on the U.S. real estate market thanks to its lucrativeness and the accessibility it offers to vast databases, which make it the most suitable market for the company’s business model, co-founder and CEO of Skyline AI Guy Zipori said in a phone interview with Calcalist Tuesday.
In June, Skyline AI announced it has acquired two residential building complexes in Philadelphia as part of a $26 million completed in partnership with an unnamed U.S. partner.