PredictAP, an AI-driven accounts payable automation firm, secured an additional $5 million in funding. RET Ventures and Wise Ventures, both prior investors, led this round. This capital fuels PredictAP's expansion in the real estate sector.
The new PredictAP funding supports rapid go-to-market expansion. It also enhances proprietary AI automation technology. Furthermore, it expands integration capabilities with leading property management software platforms like Yardi, MRI, and Realpage ERP systems.
Driving AI Innovation in Real Estate AP
PredictAP has achieved significant growth. The company now serves over 100 customers, including major owners and operators. Its technology processes more than 4 million invoices each year. This delivers an average 80% time savings per invoice. Processing cycles reduced from 11 days to just 3.
The company secured a strategic partnership with Bottomline. This partnership enhances AP automation for real estate customers. PredictAP also earned 'Innovative Solution of the Year' at the 2024 Ardent Partners AP Honor Awards. Business Insider recognized it as a 'Hottest Proptech Startup' in 2024.
PredictAP recently obtained a U.S. patent for its AI invoice coding technology. This strengthens its position in real estate technology. Competitors in the broader AP automation space include Coupa and Bill.com.
