ProptechDealmakingM&A / FundingReal Estate Tech

Archistar buys Snaploader as part of US expansion

Archistar, an Australia-based property intelligence platform, today announced raising A$11 million in funding and its first acquisition of interactive 3D experience provider Snaploader, according to Business News Australia.

The company says the funding and acquisition come as it prepares to launch in the U.S., with a new office in Dallas being led by former Nearmap executive Shane Preston. Investors included NAB Ventures, Skip Capital, Skyfield, AirTree Ventures and other private investors.

It says that Snaploader, a Sydney-based proptech that provides interactive 3D experiences for real estate professionals on the property sales and marketing segment, will augment its current offerings.

These services include 3D building design services, which utilize AI and are currently used by large, notable clientele including CBRE, Frasers Property, Ernst & Young (E&Y), Brookfield and JLL. The company also stated it is used in Australia by companies including Stockland (ASX: SGP) and Mirvac (ASX: MGR).

Founded in 2018 by Dr. Benjamin Coorey and his brother Rob Coorey, the founders says the funding and acquisition bring Archistar closer to becoming a “one-stop-shop” for the overarching property process.

“We are raising the bar and creating the experience consumers want. Snaploader is already working with some of the biggest names in the property sector, including Charter Hall, Knight Frank and Colliers International,” Benjamin Coorey told Business News Australia.

“The unique technology allows the visualization of off-the-plan projects across residential, commercial and industrial buildings to streamline the selling process. We are delighted to bring the Snaploader technology and its very talented team under the Archistar banner,” Coorey said.

The company says that its software provides architects, planners, developers and agents with instant information regarding residential projects, including local planning and zoning rules.

It says that while its expansion to the U.S. requires a larger, more complex understanding of local laws and jurisdictions in the states, it has already analyzed and processed the rules of Texas and already has a property developer lined up to use its software.

Archistar also said once it opens its office in Dallas, it plans to expand to Florida, California, North Carolina, Arizona and Virginia. In order to accomplish this goal over the coming years, it says it is working with U.S. property data providers including First America, BCI Build Central and Nearmap.

Shane Preston, who led Nearmap’s expansion to the U.S. from Australia, will lead the company’s new Dallas office and progress across the country. Nearmap recently announced integrating with large public-sector technology firm Tyler to enhance mass appraisal services.

Archistar has now raised A$31 million in total funding, including a A$6 million fundraise in April 2021 led by AirTree and Skip Capital.

In other recent proptech news, EasyKnock and Marketplace Homes partnered to merge the sale-leaseback model with new construction builds. Property Meld also partnered with PURE Property Management to improve maintenance communications.

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