[ad_1]
Ojo Labs, an Austin-based start-up that is developing a personal badistant for real estate agents and homebuyers focused on AI, announced today the $ 45-million raise for the first time. Series C financing with the participation of LiveOak Venture Partners and Realogy Holdings Realty & Relocation Services. Royal Bank of Canada and Northwestern Mutual Future Ventures. Just months after the end of its $ 20.5 million Series B, Ojo is continuing its acquisition of WolfNet Technologies, a real estate broker, and raising its total capital raised to $ 65.5 million.
The bulk of the injection of funds will be used to expand the teams of data science, products and engineering, said CEO John Berkowitz, and to stimulate product development. In addition, it will lay the foundation for extending Ojo to 50 US states, beyond the 12 markets where it is currently available.
"We used a unique combination of artificial intelligence technology and human operations to solve very difficult technical challenges," added Berkowitz, co-founder of Ojo with David Rubin in 2015. "Our investments Initials and our willingness to be first on the market with this type of product have given us a significant length of time in building our now patented technology. "
The Ojo Chatbot – which is a sneak preview – answers questions from potential buyers about sales information, neighborhood addresses, etc., via SMS and third-party email platforms. (Think about queries like "What floor is the master bedroom?" And "Does it have a pool?") Scans millions of photos and data sources, including public archives and lists from schools, to recommend properties and a proprietary algorithm to highlight the agents and real estate brokers partners best suited to the criteria of users.
But Ojo's secret weapon is undoubtedly the 100 million WolfNet registered buildings, which cover 99% of all active multi-agency services (the series of tools used by real estate brokers to establish contractual offers compensation and valuation) in the United States and Canada. Prior to the acquisition in October, WolfNet had stated that half a million real estate agents were using applications and websites powered by its data services.
Above: The Ojo Labs Chatbot.
Image credit: Ojo Labs
The goal is to streamline the search for housing in a way that seems natural to Aboriginal buyers, and Ojo could be on something. According to a recent report by Grand View Research, the global market for chatbot is expected to reach $ 1.23 billion by 2025, and Forrester badysts report that 45% of end-users prefer chatbots to other forms of communication. customer inquiries.
"We have incorporated valuable lessons into our product," said Berkowitz. "Doubling our investments now will further accelerate our competitive advantage and, above all, allow us to offer a truly incredible experience to millions of consumers."
Ojo has two offices in addition to its head office in Austin: a training and customer service center for AI in St. Lucia and a Minneapolis-St. Paul location. She plans to add more than 50 new employees to her total workforce of about 290 people in the coming months.
"We are hiring exceptional individuals motivated by collaboration with talented peers, motivated by challenging technical challenges and determined to deliver the best experience to our clients," said Qjo Senior Vice President of Engineering. Qingqing Ouyang. "It's an exciting time for the OJO team. We are fully aware of the challenges badociated with using AI to help our customers make one of the most important decisions of their lives. "
Source link
