The Sydney-based company is working to improve how data on strata and residential buildings is collected, analysed, and accessed. The funding round, held privately, included backing from Qantas chairman John Mullen, DigiDirect and Booktopia CEO Shant Kradjian, Sentia founder Michael Cindric, and KerinBenson Lawyers principal Christopher Kerin.
Founded by Thom Richards, Cohabit aims to become a trusted digital source for insights into the condition and performance of residential housing blocks.
Cohabit provides digital profiles and health scores for buildings using AI to process data from strata records, building specifications, pricing trends, and industry benchmarks.
The platform is designed to serve various stakeholders. Owners can use it to assess the condition of their building. Buyers can review data before making a purchase. Strata managers can access portfolio-level benchmarking.
“Our goal is to offer a transparent, independent view of a building’s health,” Richards said in an interview. “We want all stakeholders to make better decisions based on reliable data.”
Richards, who previously co-founded Managed App, invested $500,000 of his own funds in the venture before opening this round.
He chose to raise capital from experienced professionals with a background in strata and related industries. “We didn’t go through venture capital,” he said. “It was a strategic decision to bring in people who understand the space.”
This approach was intended to build a stronger product with insights from investors who know the sector well.
Cohabit has already compiled data on approximately 50,000 buildings across Australia. Its team of 10 includes software engineers based in Sydney and Ukraine, led by CTO Michael Cindric.
The startup plans to use the new funding to launch several new tools:
A risk rating feature to support insurers.
An expert portal, a SaaS product for inspection service providers.
A levy payments module, aimed at improving transparency and control over owner contributions.
So far, about 15 strata inspection companies have joined the platform. Richards also mentioned ongoing interest from listing portals, strata insurers, and service providers interested in potential distribution or integration partnerships.
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By Ravi Kumar