London-based BuiltAI, a financial modelling platform for commercial real estate investment, has secured $6 million in seed funding. The round was led by New York–based VC firm Work-Bench, with participation from Lerer Hippeau, Timber Grove Ventures, Emerald Pine, as well as several angel investors and property-sector professionals, including Jeremy Ford, Managing Partner at Manet Capital.
Although an estimated $26 billion is spent each year on real estate software, the screening of investment opportunities and financial modelling remain largely manual processes, often carried out in spreadsheets. Tasks such as manual data entry and data extraction are highly time-consuming, and studies indicate that 88% of these financial models contain material errors.
On average, it takes at least two weeks to analyse deal opportunities, with data dispersed across multiple systems, which can result in companies missing other potential deals in their pipeline.
BuiltAI was co-founded in 2020 by Natan Lempert and Firoz Noordeen in response to the potential of technology and AI to modernise real estate investment by replacing outdated underwriting processes.
The platform uses machine learning to rapidly extract and analyse building data, helping clients manage existing portfolios and underwrite new investment opportunities. Within minutes, it generates detailed financial models to support full business plans and scenarios for any asset, representing a tenfold improvement on current processes.
The analysis incorporates real estate fundamentals, lease terms, valuation, tenant profiles, and local market data, and can be performed for single assets or entire portfolios, enabling investors to identify optimal business plans and asset management strategies.
BuiltAI’s CEO and co-founder, Natan Lempert, noted that generative AI is playing a growing role in financial decision-making by enabling large-scale data translation and automating underwriting processes. He added that despite real estate being the world’s largest asset class, the tools used to evaluate deals have seen little change over the past four decades.
Our AI solution will be transformative for every stage of the property asset lifecycle, from sourcing to acquisition to disposal, for brokers, investors, lenders, and valuers.
BuiltAI’s new asset management tool, introduced following this funding round, provides real estate owners with full lifecycle modelling, instant portfolio roll-up, and real-time scenario analysis to support faster decision-making.
The new funding will be used primarily to expand BuiltAI’s operations in the US and UK and to enhance its platform.
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