ACM executive chairman, Antony Catalano has confirmed a significant investment in property data and AI business Propic as it continues its growth phase.
Propic has developed two products that will provide real time property market intelligence to ACM and the broader group of companies that Antony and partner Alex Waislitz have invested in.
Propic was founded and is headed up by former Domain executive Jeff Grey who managed the Agent Services department at Domain during ACM executive chairman Antony Catalano’s 4 years as Domain CEO.
Catalano said that “this investment continues our commitment to grow and evolve as emerging technologies prove their value. Jeff and the team have developed 2 compelling products and we can see a range of strategic and operational applications.
“Their use of AI is first class and it provides an understanding of vendor propensity we’ve not seen before. This will help us understand the property market broadly but also at a granular level when looking at shifting trends of both buyer and vendor behaviour.”
We look forward to working with Jeff and the team to not only help build the Propic business but leverage their tools for the broader group.” said Catalano
Propic CEO, Jeff Gray said “We are excited by the investment and support of Antony and Alex. This funding will see a significant scale-up in the business, proving Australia can lead in the technology space. We genuinely believe our solutions will become ubiquitous, transforming the customer and agent experience here and overseas,”
The investment in Propic has been made by IMP, which is Antony Catalano and Alex Waislitz’s real estate digital media investment vehicle which also holds the equity in realestateview.com.au. This follows a series of additional investments in other prop tech start ups as the pair look to build an integrated real estate digital media and agent services company which aims to target categories in the $250 billion annual real estate transaction market.