But, more importantly to us, it’s loved and highly rated by our users. Our product, Folio is currently used to manage about 40% of all the real estate transactions in the United States. To solve this issue, we decided to start in the real estate space and have been fortunate to have had a lot of success.
It was unfortunate in my mind that he was spending so much time doing work that wasn’t the sort of work that made him most valuable – and I saw a lot of parallels for many other professionals. So, I looked at this and was a little distraught because I thought my real estate agent was a valuable and important person. That means, we need to spend our time doing work that is uniquely human. Not to be too weird and dystopian, but if the robots are coming for our jobs- we kind of must contend with that.
Folio amitree professional#
They hold us back from having the most fulfilling professional experience and being as valuable as we can be. We have inefficiencies in how we go about our work, those inefficiencies end up taking a disproportionate amount of time. I understood right away that this was not a real estate-specific problem – it’s a modern work problem. He was spending his time on tedious administrative work that wasn’t really great use of his time and obviously not the reason he gets up in the morning. What I observed as we went through the process was that our agent spent a significant portion of his time, maybe even most of his time, doing work that isn’t the work that made him valuable.
Folio amitree software#
While the team included just seven employees during the first three and a half years, Amitree has doubled headcount since the deal closed.When my wife and I bought our first home we had a positive experience overall, but you know, being an entrepreneur and a software engineer- I saw a lot of problems throughout that process. The round included participation from existing investors, including Accel Partners and Seven Peaks Ventures, and brings total funding to about $13 million.Īccording to Aizen, Amitree is using the funding to boost headcount, mostly in its engineering and data science team. With that growth, the company has successfully raised an additional $7.1 million in funding led by Vertical Venture Partners. That adds up to about 5 percent of all real estate transactions in the U.S., Amitree estimates. The Chrome extension has been downloaded more than 30,000 times and has managed more than 200,000 transactions to date. Launched about a year ago, Folio is gaining ground in the real estate community. Doing so reduces the amount of time they spend searching for various documents, while also providing an easy way to set up reminders to keep projects on track. The tool helps agents manage workflow by creating folders for every transaction, and compiles all emails, files and related contact information necessary. Folio is a Google Chrome extension that connects with real estate agents’ email accounts and acts as a smart assistant that processes millions of emails to help understand what is happening with each transaction they manage. That’s where Amitree’s Folio product comes in. As a result, keeping track of where different buyers are in the process and what they need to do to move things forward can be a monumental task. Unlike most homebuyers, agents will often handle multiple home purchases at any given time. Like homebuyers, real estate agents have a list of tasks they have to complete during the process of ushering clients through the process.
In contrast Amitree wants to create tools to make real estate agents’ lives easier. But almost all innovation in the real estate market to date has been focused on disrupting the agent-buyer relationship. “The best pathway to a better buying experience comes from empowering the real estate agent,” Amitree CEO Jonathan Aizen told me. So Amitree went back to the drawing board and came up with a new product called Folio that was targeted at real estate agents. As a result, it can be tough to get repeat business in the consumer market. Called Closing Time, that product was a kind of to-do list with all the things a consumer needed to accomplish while purchasing a home.īut you know, buying a home is an event that most people will only do once every decade or so. The company originally launched with a consumer-facing tool to help usher homebuyers through the closing process. It’s been a long, strange trip for Amitree. The company has raised $7 million to grow its Folio assistant for real estate agents. Real estate tech startup Amitree is making life easier for real estate agents, which it hopes will make life even easier for the homebuyers they work with.
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