PredictAP, a Boston, MA-based machine-learning-enabled invoice ingestion and coding solution for real estate accounts payable, has raised $8 million in Series A funding.
SaaS Investors
The round was led by RET Ventures, with participation from Wise Ventures.
Founded in 2017, RET Ventures is a venture capital firm based in Park City, Utah. The firm prefers to invest in companies operating in the real estate technology sector. ET works in partnership with its base of more than 50 Strategic Investors who own and manage over $600 billion of real estate assets, with a particular focus on multifamily and single-family rental real estate.
PredictAP Use of Funds
The company will use the funds for expansion across the U.S. and international markets.
About PredictAP
Founded in 2020 by David Stifter and Russell Franks, PredictAP is a fintech solution that uses machine learning to automate the ingestion and coding of invoices for real estate accounting departments. It saves time by eliminating manual data entry from invoice ingestion and coding and integrates with AP automation solutions focused on real estate. The company currently, supports over 50 real estate companies, including Bridge Investment Group, Garden Homes, The RMR Group, Starwood, and CA Ventures.
Funding Details
Company: PredictAP, Inc.
Raised: $8.0M
Round: Series A
Funding Month: January 2024
Lead Investors: RET Ventures
Additional Investors: Wise Ventures
Company Website: https://www.predictap.com/
Software Category: Financial
Source: https://www.businesswire.com/news/home/20240117606025/en/