AI-powered proptech firm acquired by US software specialist

AI-powered data firm LEVERTON has been acquired by a US real estate software specialist in order to boost its proposition.

LEVERTON, which has offices in London as well as New York and Delhi, has been acquired by global software firm MRI Software, which is based in Cleveland, Ohio.

Founded in 2012, LEVERTON specialises in using machine learning to create searchable structured data sets that aims to provide a picture of a business’ real estate assets.

Patrick Ghilani, MRI’s chief executive officer, commented: “The acquisition of LEVERTON brings a true innovator and global PropTech leader into the MRI family, with expertise in the application of AI to real estate data collection, management, and analytics.”

Abhinav Somani, LEVERTON’s chief executive officer added: “Demand for data intelligence has surged within the real estate sector and joining a PropTech category founder with a market-leading end-to-end offering gives us the scalability we need to extend our global reach.

“What’s more, MRI’s open and connected approach fosters innovation from all sources and empowers companies to solve complex problems in their own way, making it the perfect strategic and cultural fit for LEVERTON intelligence.

“We’re just beginning to scratch the surface of what AI can do for companies all over the world and being part of the MRI family will allow us to take our solutions and offerings to the next level.”