During its expansion phase, market leader in property data and artificial intelligence, Propic, has received a significant investment, confirmed by ACM’s executive chairman Antony Catalano.
Propic has created two AI-driven products that empower property managers and real estate agents to assist their clients 24/7. The company also offers a platform that tracks each property in Australia daily.
Mr. Catalano and Alex Waislitz have invested in Propic as part of their plan to establish an integrated property and media business. Along with owning ACM, Australia’s premier regional news media company, and this website’s publisher, the business partners also have equity in realestateview.com.au.
Mr. Catalano expressed that the investment in Propic demonstrates their commitment to growth and evolution through the adoption of emerging technologies that have proven their value. He commended Propic for their first-class use of AI, which has enabled them to gain insights into vendor propensity that were previously unavailable. This will provide a broad understanding of the property market as well as a granular understanding of shifting trends in buyer and vendor behavior.
Propic was founded and is currently led by Jeff Gray, a former Domain executive who managed the agent services department while Mr. Catalano served as CEO of Domain. Mr. Catalano expressed his enthusiasm for working with Jeff and the Propic team, not only to help build the Propic business, but also to leverage their tools for the broader group.
Mr. Catalano highlighted the significant role that AI and big data will play in real estate, as has been demonstrated in almost every other industry vertical. He is excited to see world-leading solutions being developed in Australia.
According to Mr. Gray, the recent investment in Propic will enable the company to expand its operations and demonstrate Australia’s potential to lead in the field of AI technology.
Mr. Gray expressed confidence that Propic’s solutions will become widespread and revolutionize the customer and agent experience, both domestically and internationally.
The investment was made by IMP, a real estate digital media investment firm owned by Antony Catalano and Alex Waislitz, which also holds equity in realestateview.com.au. The investment is part of the firm’s strategy to create an integrated real estate digital media and agent services company, with a focus on categories within the $250 billion annual real estate transaction market.