Henry AI, a New York City-based proptech company, has raised $16.5 million in a Series A funding round to expand its artificial intelligence platform for commercial real estate (CRE) professionals.
The investment round was led by FirstMark Capital. Existing and new investors, including Thomson Reuters Ventures, Y Combinator, Susa Ventures, 1Sharpe, StoryHouse Ventures, Pioneer Fund, RXR Arden Digital Ventures, Karman Ventures, and Coalition Operators, also participated.
Henry AI plans to use the fresh capital to grow its engineering and product teams. In addition, the company aims to expand its platform beyond document automation and develop it into a central system for managing commercial real estate transactions.
The company focuses on reducing manual work across back-office operations. As a result, commercial real estate teams can complete documentation and transaction-related tasks more efficiently.
Founded by Co-founder and CEO Sammy Greenwall and Co-founder and CTO Adam Pratt, Henry AI develops software that automates document creation and operational workflows throughout the commercial real estate transaction process.
Its platform helps users generate offering memorandums, underwriting packages, pitch decks, buyer lists, and other transaction documents. Moreover, the software converts internal deal information into client-ready materials, reducing repetitive manual work.
According to the company, Henry AI currently serves more than 150 commercial real estate firms.
The latest funding is expected to support continued product development as the company expands its AI capabilities for commercial real estate professionals.
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