Ukrainian startup Propertymate raises $1M from Pragmatech Ventures
Propertymate, a startup founded by Ukrainians Bohdan Hnatkovskyy and Sofia Vyshnevska in 2018, has raised a $1 million investment from Pragmatech Ventures. This startup had also previously received $120,000 in investment as part of its participation in the Techstars acceleration program.
According to Propertymate, it plans to use the investment to expand the startup in two other US cities.
“Propertymate used to focus on real estate agents who needed access to information about all the new buildings in their area. When the number of partnerships with developers increased, more and more developers became interested in direct communication with buyers. We shifted our focus and started providing the service to real estate buyers as well, which was one of Propertymate’s most successful experiments,” said Sofia Vyshnevska, CCO of the startup.
Propertymate now operates in Austin, Texas, and the founders plan to expand in two other US cities, Dallas and Houston, using the investment.
“Despite COVID-19, the US primary real estate market is booming. We felt even greater demand for our service, and now, thanks to the investment, we plan to start working also in Dallas and Houston within the next six months,” said Bohdan Hnatkovskyy, CEO of Propertymate.
Bohdan Hnatkovskyy and Sofia Vyshnevska founded the startup in 2018. Propertymate is a platform that allows buyers of primary residential real estate to find all the information about new buildings. The AI-powered tool helps to analyze buyer and property data. It predicts which properties clients will be most interested in.
At the beginning of the pandemic, real estate developers cut marketing expenses and started looking for alternative sales channels like Propertymate. The platform charges a transaction fee only if a purchase has been made. Due to this, the number of clients of the service has grown 65 times since March 2020.
Propertymate’s clients are Lennar, D.R. Horton, Taylor Morrison, and Pulte Homes. Among the real estate agencies using the platform also are the largest participants of the US market, such as Keller Williams, eXp Realty, and Compass.
Currently, the startup team consists of 17 people working in Lviv, Kyiv, New York, and Austin. Propertymate is now actively growing and hiring new employees.