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Armed with $170M from a fresh round of fundraising, UK-based proptech firm Dwelly wants to buy more companies and use AI to streamline operations.
Dwelly, founded in 2023, is an artificial intelligence-powered online listing platform for buying and selling real estate. It acquires small property management and brokerage companies, adds their databases to its own, and introduces AI to make operations more cost-effective.
Its $170M financing package, announced Tuesday, is made up of $95M in equity, co-led by General Catalyst and EQT Growth, and a $75M debt facility from Trinity Capital. Venture capital firms Begin Capital, s16vc and DVC chipped in. The firm has now raised $260M over the past three years.
The cash infusion will allow Dwelly to add more listing companies to its 15,000-property roster. Since its formation, it has acquired 16 companies and accumulates $466M yearly in rent.
Dwelly’s staff act as advisers to tenants and landlords and supervise AI agents that can handle over 300 units, up from 100 that human agents managed. AI helps with operational tasks like maintenance requests, cutting completion times by 30%, according to the company.
That game plan is an increasingly common one among multifamily operators looking for ways to optimize efficiency and, ultimately, cut costs. Property incomes have flatlined in recent years, while prices for materials and property insurance have only grown, as have interest rates. Operators that are buckling under the rising costs see the framework as a way to weather the storm.
Proptech firm EliseAI has dubbed the process “centralization.” It claims that AI can increase net operating income by 20% on an annual basis, boost payroll savings by 10 to 20%, and cut admin and leasing hours by 40%.
Equity Residential reduced its workforce by 20% between 2020 and 2025 by implementing AI.
Investors see the strategy as a way to boost the profits and efficiency of a business, according to Bloomberg. In addition to Dwelly, General Catalyst has backed a number of “rollup” startups that purchase companies and then infuse AI.
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