Sequoia, JLL, TLV Invest in Israeli Property-Technology Startup

(Bloomberg) -- Skyline AI Ltd., a property-technology startup, raised $18 million in a Series A round led by investors including Sequoia Capital and TLV Partners, with participation from a unit of Jones Lang LaSalle Inc., said Skyline Chief Executive Officer Guy Zipori.

With the help of artificial intelligence, Skyline operates a platform that uses data to enable commercial real estate investors to make decisions, including predicting future valuations. The new capital injection comes after Sequoia led a $3 million seed-funding round in March for Skyline, and will be used to extend its platform integration to include additional asset classes. Skyline, which has offices in Tel Aviv and New York, is currently focused on multifamily and will expand to office and industrial properties.

Nyca Partners, Arbor Ventures and iAngels Crowd Ltd. also participated in the Series A round. Gary Wipfler, Apple Inc.’s treasurer, became an investor as well, having struck a so-called simple agreement for future equity last year, Zipori said in an interview.

JLL’s investment comes from the firm’s JLL Spark Global Venture Fund, which was set up to deploy $100 million into companies that leverage technology to improve real estate development, management, leasing and investing. JLL isn’t the only property-services company seeking to increase its exposure to early-stage property-technology companies. Last year, CBRE Group Inc. said it would be an anchor investor in Fifth Wall Ventures Management LLC.

To contact the reporter on this story: Gillian Tan in New York at gtan129@bloomberg.net

To contact the editors responsible for this story: Alan Goldstein at agoldstein5@bloomberg.net, Daniel Taub, Christine Maurus

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