ClearPath AI has secured £1m in pre-seed funding for its artificial intelligence platform designed to automate routine tasks in residential property transactions.
The company’s Property AI product targets estate agencies, using AI to handle processes from instruction and onboarding through to offers and sales progression. Functions include assembling material information, producing property particulars and memoranda of sale, preparing communications for buyers and vendors, and monitoring transactions.
Transaction monitoring capabilities
The system analyses viewing feedback, property chains and sales progress to identify delays and flag required actions when transactions stall. According to ClearPath, the technology can operate independently or integrate with an agency’s existing customer relationship management system.
Property AI forms part of ClearPath’s four-product ClearPathOS platform, which also includes technology for the legal, finance and compliance sectors. When different parties use or connect with the platform, information can be shared between authorised participants in a transaction, aimed at reducing duplication and manual follow-up work.
The platform’s approach to addressing common house moving inefficiencies differs from traditional estate agency software, according to founder and chief executive Rudi Kesic.
“Most estate agency software records the transaction and gives people the tools to manage it,” Kesic said. “We’ve started from a different position: what happens when AI can understand the transaction and perform much of the routine work required to keep it moving?”
He added: “Property AI isn’t an assistant sitting next to a CRM. The AI operates across the transaction and brings the estate agent in where judgement, approval or the client relationship requires them.”
Expansion plans
ClearPath currently employs more than 20 people across AI, engineering, product and commercial development, with plans to create over 20 additional UK roles during its expansion phase. The company’s main UK commercial operation is based in Birmingham, while its technology operation runs from Ljubljana, Slovenia.
The company has indicated plans to expand Property AI and its integrations with existing industry platforms over the next six months. The development comes as the property sector faces ongoing challenges with transaction security and efficiency, with technology increasingly seen as a potential solution to streamline processes.
The pre-seed funding will support the platform’s development and market expansion as estate agencies face pressure to reduce transaction times and operational costs.
