Purlin, a Silicon Beach, CA-based technology company that designs, creates, and delivers advanced AI solutions for the real estate market, received an investment from Rice Park Capital.
New Valley Ventures, an investment vehicle managed by Douglas Elliman Inc., Redwood Trust Inc., through its strategic venture investment platform, RWT Horizons, SUM Ventures, Mission Gate, and Fredrik Eklund and Julia Spillman-Gover, of The Eklund | Gomes Team as investors in the business.
Purlin provides enterprise-level software tools to real estate brokerages, real estate teams, and agents to help them more effectively generate more leads, promote properties, target potential buyers, and manage the buying and closing process.
"This additional investment will enable us to take Purlin to new levels. Rice Park is the perfect partner for us because of its deep understanding of the real estate and mortgage markets," said Giorgi Chigogidze, Founder and CEO of Purlin. "A few years ago, we embarked on a mission to deliver on the promise of AI in real estate. Our new partnership with Rice Park proves that our mission and roadmap is being realized beyond brokerages, in large adjacent categories."
Today, Purlin's customers include Douglas Elliman Realty and the Eklund | Gomes Team.
Company: Purlin Co.
Funding Month: June 2023
Lead Investors: Rice Park Capital
Additional Investors: New Valley Ventures, Redwood Trust Inc., RWT Horizons, SUM Ventures, Mission Gate, Fredrik Eklund, and Julia Spillman-Gover
Company Website: https://purlin.com/
Software Category: AI-Led Real Estate Technology Platform
About the Company: Purlin is a developer of real estate AI designed to personalize homebuying to provide a premium experience and business opportunities. The company's platform combines AI, machine learning, and natural language processing with image recognition to proactively identify and directly engage active buyers most likely to buy a specific property by effectively running that same consumer-facing preference engine in reverse, enabling real estate professionals, brokerages, and lenders to sort millions of listing photographs and identify the specific rooms, features, and styles that will most appeal to a given buyer.