Google-backed PropTech firm askporter raises £1.5m
A London-based PropTech firm backed by Google has secured a further £1.5m in seed funding.
The AI-focussed property management software firm will add to its investment from Google a further £1.5m in seed funding from Silicon Valley VCs including Venture University, Pi Labs, Plug and Play, WISAG FM and Henley Investments.
Its software allows for the automation of repetitive and simple property management tasks.
The firm said it will also launch a digital assistant, called porter, which can carry out routine tasks automatically, such as arranging viewings and chasing arrears.
Following the seed round, askporter’s CEO, Tom Shrive said: “Our success raising £1.5m investment reflects wider changes sweeping the property industry.
“Looking to the future, well-run properties will largely be managed by an AI assistant that has all the context of an actual manager and complete data transparency, freeing them up to focus on delivering value-added, human-touch experience to occupants.
“askporter’s technology already reduces the time spent managing a maintenance task from an average of 45 minutes to only three minutes. Over the next six to 12 months, we will emulate these savings across the entire property management spectrum.’
Justin Meissel, Chief Investment Officer of Henley Investments, added: “The property management sector is inefficient and ripe for disruption. Even the best managers are saddled with repetitive tasks that can be driven by an AI solution.
“askporter has assembled a top tier team, and their initial traction with key management companies is evidence that their innovative tech is transformative. Our Henley Ventures business is pleased to be investing alongside Google and other top venture investors in backing askporter to continue its growth.”