Proptech Startup Skyline AI is Acquired by JLL

By Nicholas Say Nicholas Say has been verified by Muck Rack's editorial team
Published on August 12, 2021

Skyline AI, a proptech startup based in New York, has been acquired by commercial state giant Jones Lang LaSalle (JLL) to gain a competitive advantage in the industry by harvesting Artificial Intelligence (AI).

The startup has developed many proprietary machine learning models that help companies to identify and analyze real estate opportunities, a process that has become increasingly difficult due to the increasing fragmentation of data. Over the past years, machine learning and other AI technologies have been the preferred tool to deal with big data, allowing the quick processing of data in a variety of industries.

While the transaction has not been completed yet, an agreement has already been reached, It is expected for the transaction to close shortly once all customary closing conditions are completed. Richard Bloxam, CEO of Global Capital Markets at JLL, referred to the acquisition by stating:

“The acquisition of Skyline AI is a significant step for JLL as we look to provide the most strategic and creative advice to our client. When you combine the intelligence of the best advisors on the ground with a quantitative expert team and AI data analysis, you get insights that are beyond human and create a competitive edge for JLL and our clients.”

Skyline AI’s technology will be integrated with existing and new JLL products to help its customers reach better critical business decisions, especially when it comes to raising rent, renovating, or selling a property.

The startup was founded back in 2017 by technology entrepreneurs Guy Zipori, Amir Leitersdorf, Iri Amirav, and Or Hiltch, growing to become a major player in the Commercial Real Estate (CRE) industry. Up until the acquisition deal, the startup had raised over $21 million in funding in seed and Series A funding. Zipori referred to the startup’s growth by stating:

“JLL provides the perfect platform to realize our vision of transforming CRE using AI. Skyline AI has worked closely with JLL as an investor since 2018. The next natural step is to become part of JLL, a multi-billion-dollar global company that sees the transformative power of the Skyline AI platform.”

The acquisition of the proptech startup by the CRE giant is a reflection of the increasing interest major corporations are showing in the startup ecosystem, not only by providing financing in the early stages but by acquiring them once their solutions reach maturity.

By Nicholas Say Nicholas Say has been verified by Muck Rack's editorial team

Nicholas Ross Say is a news desk editor at Grit Daily. An award-winning journalist, he covers the daily startup beat. He grew up in Ann Arbor, Michigan and has lived in South America and South East Asia. At present, Nicholas lives in Southern Vietnam where the Sun shines, and the noodles flow like wine. He's written for Blockonomi and Coin Journal, among others.

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