PredictAP, a Boston, MA-based machine-learning enabled invoice ingestion & coding solution for real estate accounts payable (AP), closed its $8m Series A financing round.
The round was led by RET Ventures, with additional participation from Wise Ventures.
The company intends to use the funds for expansion across the U.S. and international markets.
Founded in 2020 by David Stifter and Russell Franks, PredictAP provides a fintech solution that automates the ingestion and coding of invoices for real estate accounting departments. The machine learning-powered solution also improves the accuracy and consistency of invoice coding. The platform integrates with Yardi, a large property management software.
Since its launch, PredictAP has rapidly grown its user base, with the company now supporting over 50 real estate companies, who jointly process approximately over 2 million invoices per year. The fintech solution is utilized by major real estate companies including Bridge Investment Group, Garden Homes, The RMR Group, Starwood, and CA Ventures.
FinSMEs
17/01/2024