Boarding Pass
Israeli startup PlexAI secures $1.4M to modernize the multi-trillion-dollar commercial real estate market
Born over a dinner conversation and led by two software veterans alongside a former Saban Real Estate executive, PlexAI is looking to transform the commercial real estate sector by replacing manual underwriting with specialized AI agents.
“Commercial real estate is one of the world’s largest asset classes, yet the investment process remains highly manual,” says Ran Endelman, former Appsforce co-founder and now CEO of real estate tech startup PlexAI. “Every week, investment firms receive dozens or even hundreds of opportunities, but most simply don’t have the capacity to evaluate them all.”
Born over dinner with co-founder Yaniv Schwartz, PlexAI was built to modernize the real estate sector by introducing agentic AI to commercial deal workflows. The platform helps acquisition and origination teams run the entire deal lifecycle, from deal intake and underwriting to market research, due diligence, and investment committee materials.
The system is designed to spare analysts and acquisition teams from the countless hours spent on repetitive, manual work that slows the investment process, allowing them to instead focus on “raising capital, strengthening investor relationships, sourcing new opportunities, and closing transactions,” explains Endelman.
As a result, he continues, “even firms with one or two managing partners who intentionally maintain lean teams can operate with the capabilities of a much larger investment organization.”
You can learn more about the company below.
Company Name: PlexAI
Sector: Real Estate Tech
Product/Service description:
PlexAI is the AI operating system for commercial real estate acquisition and origination teams. Our agentic platform runs the full deal lifecycle – deal intake, underwriting, market research, due diligence, and IC/LP materials. The result: teams screen more deals, move faster on the ones that matter, and win more by underwriting at a fraction of the time and cost.
Founder Bios:
Ran Endelman (CEO) is a software engineer who previously co-founded Appsforce, a software development services company, with Amit Markovich. Endelman led B2B sales, marketing and the development of dozens of SaaS and AI platforms. He co-founded PlexAI to bring agentic AI to the commercial real estate deal workflows.
Amit Markovich (CTO) is a software engineer who previously worked at Palo Alto Networks and CyberArk before co-founding Appsforce with Endelman, where he led the technical side. Markovich now architects PlexAI's multi-agent platform – the engine running the full deal lifecycle from intake through closing.
Yaniv Schwartz (CPO) is a CRE operator who led acquisitions at Saban Real Estate before co-founding PlexAI. He knows the deal workflow because he lived it, and builds the product around how acquisition and origination teams actually work, not how software assumes they do.
Year of Founding: 2025
Last Investment Round: $1.4M
Last Investment Stage: Pre-Seed
Date of Last Investment: 03/01/2026
Total investment to date: $1.4M
Investors: GC Ventures, REACH, Almog Venture, TrueStone Equity, Bloomfield Capital and angels
Current number of employees: 6
Open positions: 2
Website: https://getplexai.com
Social Media: LinkedIn
How was the idea born?
PlexAI was born over dinner in Israel nearly two years ago.
Yaniv Schwartz, my longtime friend from our military service, was visiting Israel from Los Angeles, where he was leading acquisitions for Saban Real Estate, the real estate investment arm of Haim Saban’s family office. At the time, I was running Appsforce, a software development company that I had built together with Amit Markovich, who is now PlexAI’s CTO.
It was also the moment when the generative AI revolution was beginning to transform how we worked at Appsforce. We were using AI every day to make our engineering teams more productive, and it became clear to us that AI would fundamentally reshape software. Rather than building another tool for software developers, we started looking for traditional industries where AI could create an order-of-magnitude improvement.
During dinner, Yaniv described the reality of commercial real estate acquisitions. Analysts were spending most of their time reviewing offering memorandums, underwriting deals in Excel, conducting market research, coordinating due diligence, and preparing investment committee materials. Despite being a multi-trillion-dollar industry, the core workflow was still highly manual, fragmented, and dependent on repetitive work.
That conversation made us realize the opportunity wasn’t to automate a single task, it was to rethink the entire acquisition process. We envisioned an AI operating system that could orchestrate every stage of the deal lifecycle, allowing investment professionals to focus on judgment and decision-making rather than administrative work.
We spent the following months interviewing dozens of commercial real estate firms across the U.S., validating that these pain points were universal. Those conversations became the foundation for PlexAI, which today helps acquisition and origination teams run the entire deal lifecycle – from deal intake and underwriting to market research, due diligence, and investment committee materials.
What is the need for the product?
Commercial real estate is one of the world’s largest asset classes, yet the investment process remains highly manual. Every week, investment firms receive dozens or even hundreds of opportunities, but most simply don’t have the capacity to evaluate them all.
This challenge isn’t limited to large organizations with analyst teams. Many investment firms operate with just one or two managing partners who are responsible for sourcing deals, underwriting opportunities, conducting market research, coordinating due diligence, communicating with brokers and lenders, preparing investment committee materials, and managing the day-to-day operations of the business.
Instead of focusing on raising capital, strengthening investor relationships, sourcing new opportunities, and closing transactions, they spend countless hours on repetitive, manual work that slows the entire investment process.
As a result, promising opportunities are often overlooked, decisions take longer than they should, and firms are forced to choose between hiring more people or accepting that many deals will never receive a thorough evaluation.
At the same time, the financing process remains highly fragmented. Once a buyer decides to pursue a deal, debt brokers spend days collecting documents and distributing the opportunity to multiple lenders. Each lender independently analyzes the same information, requests additional documents, and repeats much of the same underwriting process. This results in duplicated work, weeks of unnecessary back-and-forth, and slower financing decisions for everyone involved. The industry lacks a shared operating layer that directly connects buyers and lenders around the same transaction.
How is it changing the market?
PlexAI is an agentic AI platform built specifically for commercial real estate acquisition and origination teams. Rather than relying on a single AI assistant, PlexAI orchestrates multiple specialized AI agents that collaborate across the entire deal lifecycle.
When a new opportunity arrives, dedicated AI agents automatically ingest and analyze the deal, extract information from offering memorandums and financial documents, perform preliminary underwriting, conduct market research, identify potential risks during due diligence, and prepare investment committee and lender materials. Each agent specializes in a specific domain while sharing context with the others, creating a seamless workflow from deal intake to investment decision.
A key differentiator is that PlexAI is designed around each client’s unique investment process.
During onboarding, we map how the firm’s team works – from deal sourcing and approvals to underwriting, due diligence, and investment committee review – and configure AI agents and workflows to match their existing operating model. Rather than forcing firms to adapt to the software, PlexAI adapts to how each firm operates.
Instead of replacing investment professionals, PlexAI augments them by taking over repetitive, time-consuming work, allowing teams to focus on judgment, strategy, and relationship building.
As a result, even firms with one or two managing partners who intentionally maintain lean teams can operate with the capabilities of a much larger investment organization.
Our next focus is to connect buyers and lenders within the PlexAI ecosystem. Because both acquisition teams and lending teams already use our platform to analyze the same opportunities, we can enable them to seamlessly request, evaluate, and secure financing directly within PlexAI. By allowing both sides to work from the same AI-analyzed deal data, we can significantly accelerate financing decisions, eliminate duplicate work, and create a faster, more transparent transaction experience for everyone involved.
How big is the market for the product and who are its main customers?
Commercial real estate is a multi-trillion-dollar industry, with tens of thousands of investment firms and lenders across the United States evaluating billions of dollars in transactions every year. Despite its size, much of the investment and financing process remains manual, creating a significant opportunity for AI-driven transformation.
PlexAI’s primary customers are commercial real estate private equity firms, investment managers, family offices, commercial real estate lenders, debt funds, and banks. Our largest customers are real estate private equity firms managing more than $1 billion in assets under management (AUM), while many of our clients are boutique investment firms that intentionally maintain lean, high-performing teams.
Whether it’s a global investment manager with dozens of acquisition professionals, a firm led by one or two managing partners, or a lending team underwriting hundreds of financing opportunities each month, these organizations share the same challenge: evaluating more opportunities without increasing headcount. PlexAI enables them to automate repetitive work across the entire deal lifecycle, move faster, and make better investment and lending decisions.
Does the product exist already?
PlexAI is fully launched and running in production, serving dozens of commercial real estate investment firms across the United States, from boutique firms to leading private equity firms managing over $1 billion in assets under management (AUM).
Since the beginning of the year, we have grown our annual recurring revenue by nearly 400%, reaching hundreds of thousands of dollars in ARR. Our customers use PlexAI daily to automate the entire deal lifecycle, and we are now focused on accelerating our growth, expanding our AI capabilities, and scaling across the U.S. commercial real estate market.
Who are the main competitors in this sector and how big are they?
The market includes established commercial real estate software platforms such as Dealpath, along with a growing number of AI startups focused on specific tools such as underwriting, document extraction, or market research. Most of these solutions address only one part of the investment process.
PlexAI takes a different approach. We have built an agentic AI platform that orchestrates the entire deal lifecycle – from deal intake and underwriting to market research, due diligence, investment committee materials, and loan origination. With PlexAI Direct, we are extending that platform into the transaction layer itself, connecting acquisition teams and lenders in a shared AI-powered network where financing can be requested, evaluated, and executed on the same analyzed deal. Rather than offering another point solution, PlexAI is building the operating system – and increasingly the transaction infrastructure – for commercial real estate.
What is the added value that the founders bring to the company and the product?
Ran Endelman and Amit Markovich previously founded and built Appsforce, a software development company that delivered dozens of enterprise B2B products for leading technology companies. Through that experience, they developed expertise in software engineering, AI, enterprise product development, go-to-market strategy, and scaling products from idea to production.
Yaniv Schwartz brings the industry expertise. Over the past seven years he headed acquisitions for Saban Real Estate, Haim Saban’s family office investment arm, leading the acquisition of over $1 billion in commercial assets. His firsthand experience ensures PlexAI is built around the real workflows, challenges, and decision-making processes of acquisition and origination teams.
Together, we combine technical execution, enterprise software experience, and domain expertise to build an AI platform purpose-built for commercial real estate.
What will the money coming in from the round be used for?
The funding will primarily be used to accelerate R&D, expanding our engineering and AI teams to further develop our agentic platform and deepen its capabilities for both investment and lending workflows.
In parallel, we will invest in building the PlexAI brand within the commercial real estate industry, expanding our go-to-market efforts through strategic partnerships, industry events, and customer acquisition
In the "Startup Boarding Pass" section, CTech will cover the (relatively) small investments made in companies during the early stages of their existence - and the entrepreneurs and startups who have not yet had the opportunity to reveal their stories to the world. Please use the linked form and fill it out according to the guidelines. This form is intended for startups raising between $500,000 and $3 million from venture capital funds, angels, or official grants from Israeli and foreign institutions. If relevant, someone at CTech will be in touch for follow-up questions.
