Localize raises $25M funding for its AI-powered home search platform
Summary
Artificial intelligence-powered real estate search startup Localize has attracted $25 million in a Series C round of funding as it looks to eliminate buyer’s remorse in home buying. Localize tries to solve this lack of personalization in real estate search by collating information from billions of data points and transforming it into what it calls “selectable attributes” such as a home’s proximity to specific stores like Trader Joe’s. Localize President and Chief Operating Officer Omer Granot stressed that technology has largely failed to solve many of the complexities of the real estate industry and, especially, the home buying process. “This makes us a partner from their initial search to receiving keys in hand for their new home.” Pitango’s Peres said he was backing Localize because its tools can enable people to find and buy the home of their dreams in a short time thanks to the advanced AI models it has developed. “The ability to use tools that automate and digitalize this process, combined with insights that are produced using algorithms which run on massive amounts of data, makes the results quick, accurate and fully fitted to the client’s needs.” Localize has already planned how it intends to use today’s funding.
