Agora, a proptech startup headquartered in New York, has raised $9 million in seed funding to modernize the way real estate firms manage their investments.
The funding round was led by Aleph with participation from River Park Ventures and Maccabee Ventures, as well as other undisclosed strategic investors. The capital infusion will allow Agora to boost its development and expansion efforts at a time when the startup is looking to become a major player in the United States’ real estate market.
Agora was founded in 2019 by Bar Mor, CEO; Lior Dolinski, CPO; and Noam Kahan, CTO as a response to the lack of innovation around investment management in the real estate industry. Despite being one of the most important industries, outdated platforms like Excel sheets are still in use by most real estate investors, resulting in suboptimal results at higher strategic costs.
By aggregating data and financial information to automate manual work, Agora’s platform provides real estate investors with actionable insights that help them improve their strategies in real-time. Bar Mor, CEO and Co-Founder of Agora, said in this regard:
“The real estate market is outdated and lacks technological innovations. Today, real estate funds and developers work manually to enlist tens of deals and transfer billions in funds. With Agora, all that can be done with the press of one button. Agora’s platform makes a real difference in the field, creating trust among funds and investors. All their time should be dedicated to growth, not to manual data work”
The success achieved by Agora on its mission to accelerate the growth of real estate funds has resulted in the startup managing over $20 billion in assets for more than 6,000 investors. Some of the startup’s customers include real estate investment firms like West Really Group, Migdal Capital, Electra America, RM Group, and Goldman Investments.
Having grown its presence in the United States by over 900%, Agora has been recently featured as one of PropTech Outlook’s Top Real Estate Investment Management Solution Companies. Now, with automation becoming an increasingly relevant technology for different industries, the startup is aiming to become the leading force when it comes to bringing the real estate investment industry to the 21st century.