ClearPath AI has raised £1m in pre-seed funding and launched a technology platform aimed at automating parts of residential property transactions.
The company’s Property AI product is designed for estate agencies and uses artificial intelligence (AI) to carry out routine tasks, from instruction and onboarding through to offers and sales progression.
These include assembling material information, producing property particulars and memoranda of sale, preparing communications for buyers and vendors and monitoring transactions.
The system is also designed to analyse viewing feedback, property chains and the progress of individual sales to identify delays and flag actions when transactions stall.
ClearPath said the technology can be used independently or alongside an agency’s existing CRM.
Property AI is one of four products operating on the company’s ClearPathOS platform, alongside technology for the legal, finance and compliance sectors.
Where different parties use or connect with the platform, information can also be shared between authorised participants in a transaction, with the aim of reducing duplication and manual chasing.
Founder and chief executive Rudi Kesic said: “Most estate agency software records the transaction and gives people the tools to manage it.
“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.”
ClearPath currently has more than 20 people working across AI, engineering, product and commercial development and plans to create more than 20 additional UK roles as it expands.
Its main UK commercial operation is in Birmingham, while its technology operation is based in Ljubljana, Slovenia.
The company plans to expand Property AI and its integrations with existing industry platforms over the next six months.
