Propic, an Australian proptech start-up, has secured $6 million in an oversubscribed Series A funding round led by Antony Catalano and Alex Waislitz of Australia Community Media (ACM). The investment will allow Propic to expand its artificial intelligence (AI) solutions for real estate agents and property managers, as well as provide 24/7 access to property information for anyone interested in buying, selling or renting property in Australia.
Propic offers two AI-powered solutions that allow real estate agents and property managers to communicate with consumers via automated conversational or text AI. The platform also tracks every property in Australia every day, and has already attracted some of the country’s leading real estate brands as customers.
Jeffery Gray, CEO and founder of Propic, previously served on the executive team at Domain during Catalano’s tenure as CEO. Gray stated that Propic’s goal is to “intelligently connect people and places with the services they need in real estate, in their time and place.” The company’s AI solutions improve how buyers and tenants engage in property transactions, while also enabling agents to leverage a data platform to find appraisals and listings.
Propic, an Australian real estate technology company, has been chosen as one of the six firms from the Asia Pacific region to participate in the REACH program by Second Century Ventures, the venture capital arm of the National Association of Realtors in the United States. The program is a global proptech accelerator initiative. Antony Catalano, owner of Australian Community Media and an investor, stated that AI and big data would play a significant role in the real estate industry. He also expressed his pleasure at seeing world-class solutions being developed in Australia. Propic CEO, Mr. Gray, commented that he believed their solutions would become ubiquitous and transform the customer and agent experience globally. The Series A fundraising round for Propic was handled by Henslow, a Melbourne-based independent advisory firm. This funding will help accelerate the expansion of their business, demonstrating Australia’s potential to lead in the technology space.