Australian Community Media (ACM) chair Antony Catalano has made a significant investment in property data and AI business Propic.
The platform has developed two products that will provide real time property market intelligence to ACM and the broader group of companies that Catalano and his partner Alex Waislitz have invested in.
Propic was founded and is headed up by former Domain executive Jeff Gray who managed the Agent Services department at Domain during Catalano’s four years as Domain CEO.
“This investment continues our commitment to grow and evolve as emerging technologies prove their value,” Catalano says.
“Jeff and the team have developed two compelling products and we can see a range of strategic and operational applications. Their use of AI is first class and it provides an understanding of vendor propensity we’ve not seen before. This will help us understand the property market broadly but also at a granular level when looking at shifting trends of both buyer and vendor behaviour.”
The investment in Propic has been made by IMP, Catalano and Waislitz’s real estate digital media investment vehicle which also holds the equity in realestateview.com.au. The move follows a series of additional investments in other prop tech startups as the pair look to build an integrated real estate digital media and agent services company which aims to target categories in the $250 billion annual real estate transaction market.
“We look forward to working with Jeff and the team to not only help build the Propic business but leverage their tools for the broader group,” Gray says.
“This funding will see a significant scale-up in the business, proving Australia can lead in the technology space. We genuinely believe our solutions will become ubiquitous, transforming the customer and agent experience here and overseas.”
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