A Dublin-based property management AI start-up, Marc, has raised $1m in pre-seed funding from angel investors. No VC investors were involved in the recent funding round, but there was participation from 23 angel investors, including Ireland-based backers like Wayflyer’s Jack Pierse, Hostelworld’s Tom Kennedy, SoftCo’s Susan Spence and Dublin Chamber of Commerce’s Eoghan Quigley, as well as multiple institutional real estate investors and US-based multifamily executives.
The platform utilizes AI to analyse fragmented vfinishor contracts and invoice data for property units and consolidates the information for owners and managers to support identify discrepancies that lead to overpayments.
Aaron Devitt, CEO of Marc, stated, “When you manage thousands of units, contract data directly affects asset values, but most teams can’t access that data quickly or reliably. On top of this, the relationship between the accounts payable systems and contract management systems has been historically disconnected, caapplying marginal and continuous overbilling at scale, to the tune of many millions of dollars for larger residential portfolios.”
The platform works by reading existing property contract data, which may be dispersed in multiple locations and systems, and extracting information around key terms such as fees, renewal dates and termination clautilizes to create a live “source of truth” for asset portfolios.
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