Henry AI Raises $4.3M in Seed Round

Proptech startup Henry AI announced Thursday that it had raised a $4.3 million seed round to further develop its artificial intelligence marketing software for commercial real estate brokers. 

The 8-month-old Manhattan-based company plans to use the funding to build out its automated workflows and marketing deliverables technology.

Susa Ventures and 1Sharpe Ventures co-led the funding round. Additional investors included RXR + Arden, Singularity Capital, Unwritten Ventures, Coalition Operators, Pioneer Fund, Orange Collective and Storyhouse Ventures. Bill.com’s head of product Rami Essaid, Truebill.com founder Yahya Mokhtarzada, Room founder Brian Chen and Slack Chief Strategy Officer Joe Teplow also participated. Henry AI is also backed by startup accelerator Y Combinator.

Henry AI targets analysts who often spend a significant portion of their day on important but time-consuming tasks such as locating sale and rental data; underwriting and financials modeling; plugging numbers into spreadsheets; projecting future cash flows; analyzing risks; researching market demographics and foot traffic; tracking economic developments; and creating marketing materials.

Henry AI is a “co-pilot” for brokers and their analysts to drop their underwriting or capital model into its AI, which parses what the broker has uploaded and then connects with a Google-made Gemini research model to search everything publicly available on the internet and pull in all that information, said Sammy Greenwall, co-founder and CEO of Henry AI.

“We looked at all of the workflows that commercial real estate analysts work with and we concluded that the most painful workflow came in the creation of an offering memorandum and broker’s opinion of value,” said Greenwall, himself a former analyst at homebuilder Toll Brothers. “If you’re a commercial real estate analyst, you have to build dozens of these.

“If I had a tool that could quickly generate professional-grade marketing materials and streamline all the back-end research, I could have focused on closing more deals. Henry AI is doing just that: automating the time-intensive tasks that have traditionally slowed us down and delivering polished marketing materials in minutes, not weeks. This allows professionals to focus on what matters most: growing relationships and closing deals.”

Henry AI has eight full-time employees and claims to have several national brokerages, including from five of the top 10 in the U.S., using its product, said Greenwall, who declined to name the client companies.

“Through our investment in Henry AI, we are excited to support their unique approach to leveraging AI technology in the commercial real estate industry,” Misha Gordon-Rowe, a partner at Susa Ventures, said in a statement. “We believe that Sammy and [CTO] Adam Pratt’s vision and expertise will change the way real estate professionals operate, creating new opportunities and efficiencies in this dynamic market.”

Philip Russo can be reached at prusso@commercialobserver.com.