PropHero raises $25.1m in Series A funding

9:44am on 19 February 2025

The news: PropHero, an AI-powered real estate investment platform, has secured $25.1 million in Series A funding, marking the largest Series A round for an Australian proptech company.

The round was led by Bailador Technology Investments Limited, with participation from Fifth Wall, Samaipata, Opera Tech Ventures, AfterWork Ventures and Jelix Ventures.

The numbers: PropHero currently manages more than $US800 million ($1.22 billion) in real estate assets for over 8,000 users across more than 40 countries. The company has achieved USD24 million ($36.5 million) in annual revenue and is profitable. PropHero aims to double revenue to USD50 million this year while maintaining profitability.

The company says its renovations saved over 25,000 tons of CO2 last year, equivalent to planting 1.1 million trees.

The context: Founded in 2021, PropHero has developed an AI-driven platform that analyses millions of data points to identify high-growth potential investment properties. The company ranked second in the 2024 Deloitte Tech Fast 50, with revenue growth exceeding 200% annually. The funding will be used to develop PropHero's GenAI Real Estate Wealth Advisory platform and support market expansion across Australia, Spain, Indonesia and Ireland. Bailador co-founder and managing partner David Kirk will join PropHero's board of directors.

What they said: "Property is a huge global asset class that has been underserved by digital transaction solutions. PropHero provides a world-leading solution for investors, demonstrated by very high growth, word of mouth customer acquisition, and a high proportion of customers returning to purchase multiple properties," said David Kirk, Bailador co-founder and managing partner.

"This raise will help us deliver our vision of offering everyone a Real Estate Wealth adviser in their pocket, powered by Generative AI," said Mickael Roger, co-founder and co-CEO of PropHero.

The source: PropHero media release