Australia’s premier property technology company has successfully raised $4 million in strategic capital investment from Axiom Properties Ltd, a renowned national investment and development firm. PointData, powered by AI technology, specializes in instantly identifying and mapping residential sites for subdivision and development across cities, aiming to become a leading provider of property data and analytics for the residential property sector nationwide.
This recent injection of capital will enable PointData to scale its technology and human resources, fulfilling its ambitious plans for national growth while generating new data to address significant challenges in the property market. With its operations spanning South Australia, Western Australia, and Victoria, PointData continues its expansive data rollout strategy across the country, backed by its new investors.
In this latest funding round, PointData has secured nearly $7 million in fresh capital from investors, including new private investors and family offices across Australia. This substantial investment reflects the considerable external interest in PointData’s machine learning-driven technology and data capabilities, further validating its unique position in the market.
Ben Laurance, Managing Director of Axiom, expressed his enthusiasm about having a significant shareholding in PointData, recognizing it as a key player in the broader property technology ecosystem. He highlighted PointData’s exceptional ability to generate its own data and analytics capabilities, positioning the company uniquely to provide optimized data and analytics solutions for addressing complex sector-wide challenges.
Axiom, an experienced property development and investment company, has successfully delivered major commercial and residential projects totaling over $750 million throughout Australia. Notable projects include the Glenlea Estate residential subdivision development in Mount Barker, South Australia, the Butler Central Homemaker Centre in Butler, Western Australia, and the South Australian Government Emergency Services State Control Centre.
Following a strategic review of its operations, Axiom has determined that additional investments in the wider property sector, including innovative proptech companies, are poised to provide enhanced returns for its shareholders. PointData represents the first opportunity of this kind for the investment firm. George Giannakodakis, CEO and Founder of PointData, expressed delight in welcoming Axiom as a new shareholder, emphasizing the company’s vast experience in the property sector and its valuable connections to commercial and financial entities that will greatly benefit PointData in accelerating its growth plans. Giannakodakis also regarded Axiom’s investment as a strong endorsement and validation of PointData’s technology platform, developed over the past three years, and expressed eagerness to collaborate with Axiom to achieve their ambitious strategy.
As part of the investment agreement, Axiom will have a seat on the PointData Board of Directors and provide strategic guidance to the expanding proptech company. The experienced PointData board includes Chairman Con Tragakis, who previously held positions at KPMG SA as Chair of Partners and at fintech start-up Tic:Toc Home Loans as inaugural Board Chair, and Carol Chris, Regional GM, Australia and New Zealand of GBG Plc and former Equifax Executive GM of Product & Marketing.