The Company, which deploys AI to shorten the time and cost involved in real estate underwriting, is on pace to close over $5 billion in transactions by the end of 2021
NEW YORK- SeeCares, the world’s premier AI technology platform for streamlining commercial real estate workflows, announced today that the company has closed over $1.2 billion in transactions since the platform was first introduced to the marketplace in April 2021. These transactions were all executed in the U.S. and covered all property grades. SeeCares’ technology answers the industry-wide call for solutions to shorten the time and costs involved in real estate underwriting.
The SeeCares platform applies advanced technology to fully automate the processes of modeling and generating data-rich reports, both traditionally done in spreadsheets or word processors, taking weeks. By putting all the relevant information in one place, SeeCares helps real estate firms focus on clear and quick decision making, while cutting costs by nearly 80%.
“This incredible milestone is a testament to the power of SeeCares’ technology and underscores the significant demand for solutions that improve efficiency in the underwriting process,” said Moshe Yeli, co-founder and CEO of SeeCares. “Leveraging the capabilities of AI and automation can generate high-quality models and comprehensive reports in a fraction of the time, at a fraction of the cost. In an industry where over 60% of underwriters still rely on heavily dated methods, this value proposition has resonated extraordinarily well, which has led to numerous key partnerships that have been a major driver for us over the past 12 months.”
Based on current deal flow and other growth indicators, SeeCares expects to close over $5 billion in transactions on its platform by the end of 2021.
Dror Yaffe, SeeCares’ co-founder and CTO added: “We are incredibly appreciative to all the lenders and partners who have shared their models and IPs with us, trusting the SeeCares technology to help them generate personalized models and in-depth memorandums. In particular, the token of confidence from Danny Fishman (Gaia RE), Yair Tilson (Kay Finance), Itzik Nahum (Prizma Capital), and all our CRE lending partners has been pivotal. We hope to soon multiply the number of deals SeeCares processes for its lenders and borrowers.”
SeeCares was founded in 2019 and is headquartered in Tel Aviv, Israel.