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CoreLogic acquires Australian proptech

The property research group is expanding its real estate technology solutions with its investment in a Brisbane-based, AI-centred company.

CoreLogic International (CoreLogic) has officially acquired AiRE, a Brisbane-based artificial intelligence (AI)-focused proptech, with the arrangement being completed last Friday (19 November).

According to a statement supplied by the property research group, the decision to invest in AiRE forms part of its “expansion across real estate technology solutions”.

Founded in 2017, AiRE specialises in “lead identification and nurture solutions for the real estate industry” via an AI-powered software coined “RiTA”.

As per CoreLogic, RiTa will be used alongside the research platform RP Data in the group’s “growing suite of offerings to the real estate industry”, said to include “new lead generation tools and digital proposal solutions”.

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Speaking of the acquisition, CoreLogic International chief executive Lisa Claes said: “The acquisition of AiRE aligns with CoreLogic’s vision of helping our real estate partners identify and leverage actionable leads while at the same time streamlining business performance through data, technology and the advanced capabilities of machine learning and AI.

“Along with the clear benefits to CoreLogic and its clients, AiRE will now be powered by the most extensive property data universe across Australia and New Zealand, delivering a unique suite of property and market insights for consumers, and property level triggers and events, to continually improve the model’s AI performance.” 

CoreLogic executive, product, data and analytics Tim Jenner said that AiRE’s AI offerings could help “agents to efficiently leverage their own intellectual property and enhance their personal brand”. 

“Our clients tell us the prospecting and nurturing process remains one of their largest pain points, and often takes agents away from what they do best, selling properties,” Mr Jenner continued. 

“RiTA effectively automates the task of finding and qualifying leads at scale, with impressive results.”

AiRE founder and CEO Ian Campbell added that he believes this merger means “our clients now have access to the industry’s most comprehensive data which will catapult RiTA’s capability to new levels”. 

“CoreLogic’s significant operations in the UK, a large market with a similar structure to Australia and New Zealand, will also present opportunities to expand our reach and enhance RiTA’s functionality,” Mr Campbell said. 

“CoreLogic will also provide a significant boost in support resources, which will further enhance our clients’ experience and allow us to accelerate the growth of our award-winning technology.

“We’re excited about our future and leveraging CoreLogic’s immense skillset and data. For our existing team this gives us extra support, additional sales opportunities and access to learning and industry mentors that we’re very eager to take advantage of.”

[Related: Competition heating up for big four, say analysts]

CoreLogic acquires Australian proptech
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