Localize, a NYC-based developer of AI-powered real estate technologies, raised $25m in Series C financing.
The round, which brought total funding raised to date to $70m, was led by Pitango Growth, with participation from Mizrahi-Tefahot and existing investors. Chemi Peres, Managing Partner and Co-founder of Pitango, is joining Localize’s Board of Directors.
The company intends to use the funds for further development of existing services, the creation of complementary services to support its ecosystem and the expansion of sales and marketing operations.
Founded in Israel in 2012 and led by CEO and founder Asaf Rubin, alumni of the Technion excellence program, COO and President Omer Granot, alumni of the MIT Sloan School of Management MBA track, and CTO Ilan Fraiman, Localize has developed a data and AI-driven platform, combined with human expertise, to assist buyers and brokers in the real estate market. The company works by collating information from billions of data points into hundreds of selectable attributes, including proximity to popular stores, future construction, high ceilings, building violations, complaints and pests, and a proprietary natural light insight. Homebuyers can tailor their searches with these attributes through a homebuying advisor called Hunter, the company’s hybrid human-AI concierge service. This service enables buyers to tap into Localize’s data by receiving personalized, daily curated listings that are further refined based on user responses to suggested listings.
The company, which now serves New York City, has 130 employees.