SAN FRANCISCO – [August 19, 2024] – DivcoWest, a vertically-integrated real estate company headquartered at the heart of Silicon Valley, reaffirmed its commitment to bringing innovative solutions to customers, partners, and investors through a series of investments into cutting-edge AI companies poised to transform real estate and construction.
Made through DivcoWest Ventures, a unit of the firm focused on early- and growth-stage technology companies with the potential to shape the future of the urban environment, these investments underscore DivcoWest’s continued efforts to invest in, and adopt, technology which enhances its unique platform and benefits the entire real estate ecosystem.
Just last week, DivcoWest Ventures reinvested in its portfolio company EliseAI, as part of a $75M Series D fundraise. EliseAI is the largest and most advanced conversational AI platform in the residential real estate industry. The company’s automation tools manage communications 24 hours a day, seven days a week between potential and current renters across multiple channels (such as, SMS, email, phone, and webchat) and automates property workflows.
DivcoWest Ventures’ recent investments also include:
- Field Materials is an AI procurement platform for contractors to control and verify construction material and equipment spending. Its web and mobile apps streamline material purchasing and equipment rentals by eliminating manual data entry for quotes, invoices, packing slips, and receipts, and saving 5-10% in material costs by automatically identifying billing errors.
- Flexnode is a leading-edge digital infrastructure company reimagining the built environment through bespoke and immersive design, efficient DFMA-centric construction, and advanced operation of high performance, liquid cooling-enabled micro data centers.
Commenting on the recent investments, Breton Birkhofer, Managing Director, said: “These investments represent our unwavering commitment to embracing AI and its transformational potential in the real estate sector. By supporting these companies, we’re not just investing in valuable technology – we are investing in a more successful and sustainable future for our industry. As AI continues to evolve, we are excited to invest in and nurture the most promising technologies that can benefit the communities we serve.”
DivcoWest Ventures has previously invested in more than two dozen proptech and climate tech companies operating in the U.S. and Canada. These portfolio companies include Matterport, an AI-driven spatial data company which allows users to easily create digital twins of assets in the built world, and Metropolis, an AI and computer vision startup built to modernize the parking experience by enabling “checkout-free” payment for drivers and revenue-generating operations for real estate owners.
For more on DivcoWest Ventures, see: https://divcowest.com/ventures/
About DivcoWest
Founded in 1993 by Stuart Shiff, DivcoWest is a vertically integrated, real estate investment firm headquartered in San Francisco, with offices in Cambridge, Los Angeles, Menlo Park, Washington DC, Austin, and New York City. Known for long-standing relationships and experience across the risk-spectrum in innovation markets, DivcoWest combines entrepreneurial spirit with an institutional approach to commercial real estate. DivcoWest aims to create environments that inspire ingenuity, promote growth, and enhance health and well-being. Since inception, DivcoWest and its predecessor have acquired approximately 61 million square feet of commercial space – primarily throughout the United States. DivcoWest’s real estate portfolio currently includes existing and development properties in the office, R&D, lab, industrial, retail, and multifamily spaces. www.divcowest.com