Ojo Labs, an Artificial Intelligence-driven personal assistant platform for real estate agents and home buyers, has secured a sum of total USD45 million in series C funding round. The fresh capital will be utilized to expand the company’s AI-powered Chatbot services for real estate. The funding round was led by LiveOak Venture Partners, with additional participation from real estate and relocation Services Company Realogy Holdings, Northwestern Mutual Future Ventures, and Royal Bank of Canada.
Ojo Labs CEO John Berkowitz said that the bulk of the cash infusion will be used to expand the company’s data science, product, and engineering teams, and to drive product development. Additionally, it’ll lay the groundwork for Ojo’s expansion to all 50 U.S. states, up from the 12 markets where it’s currently available. Berkowitz, who also a Co-founder of Ojo Labs, founded in the year 2015, with David Rubin further noted that we have utilized a unique combination of AI technology and human operations to solve some very hard technical challenges. Our early investments and willingness to be first to market with this type of product gave us a significant head start in building our now-patented technology, he added.
Seated in Austin, Texas, Ojo’s Chatbot, which is in a preview, answers potential homebuyers’ queries regarding listing information, neighborhood locations, and much more through SMS and third-party messaging platforms. Moreover, it scans millions of photos and data sources, ranging from public records and school listings, among others to suggest superior properties to the customers. It also taps a proprietary algorithm to surface partner realtors and brokerages best suited to users’ criteria. With this funding round, Ojo’s total valuation reached to USD 65.5 million, following the months before raised USD 20.5 million in series B round and acquisition of a real estate data broker, WolfNet Technologies