Real estate management platform Agora announced on Wednesday that it has raised $9 million in Seed funding. The Seed financing was led by Aleph, with participation from River Park Ventures and Maccabee Ventures, along with strategic investors from the U.S. real estate market. Founded in 2019, Agora has built a software platform that manages data of investments and assets for the real estate industry.
Today, most real estate funds, developers, or family offices waste a vast amount of time and work on managing their data manually, mostly by outdated Excel sheets. Due to this, many private or institutional investors do not have the ability to make data-based decisions in an optimal way. Agora’s platform aggregates all of the data and financial information, automates manual work, calculates costs, yield, and additional elements and grants data access to the funds, developers, and investors while simultaneously maintaining the security and integrity of the data.
Agora was founded by Bar Mor, CEO, Lior Dolinski, CPO, and Noam Kahan, CTO, who met in their army service in the IDF's Unit 8200.
The company said it has grown eightfold over the last year in the United States, reaching more than $20 billion in Assets Under Management and 6,000 investors using the platform on a daily basis.
"The real estate market is outdated and lacks technological innovations. Today, real estate funds and developers work manually to enlist tens of deals and transfer billions in funds. With Agora, all that can be done with the press of one button,” said Bar Mor, CEO and Co-Founder of Agora. “Agora’s platform makes a real difference in the field, creating trust among funds and investors. All their time should be dedicated to growth, not to manual data work. Many of our real estate investors started as customers and after using the platform decided to invest in Agora and back our mission: Accelerating growth and operational efficiency for real estate funds and developers."