Participated · Seed · Sep 2022

Tongo is a NYC-based fintech realigning income and expenses for the commission economy. It partners with real estate brokerages to give agents flexible, real-time and low-cost access to future commission income through a card-based product. The Tongo Smart Card can be used wherever debit cards are accepted and funds can be pushed directly into an agent's checking account. Repayment occurs only when the agent collects a commission; if a contract falls through the borrower can defer repayment until their next commission. The company will use the $7M seed proceeds to expand product and team in its initial real-estate market. Fundraising to-date is $11 million.

Participated · Equity · Jan 2022

Purlin Co. designs, creates, and provides advanced AI-powered technology products for the real estate market. Its client- and agent-facing technology powers systems used by Douglas Elliman's 6,600 agents and 46,000 annual clients. Major brokerages, agencies, lenders, and other companies involved in real estate transactions can use Purlin's products or platform to expand their businesses and create superior client experiences. The company says proceeds from the fundraise will be used to grow Purlin's business, support the success of existing clients, and expand the geographic footprint of its AI products. CEO Giorgi Chigogidze said the raise signals increasing demand for Purlin's products and validates its approach to providing AI-powered applications to major brokerages and agent networks. Purlin's core product is an AI platform that combines machine learning, natural language processing, and image recognition to analyze millions of listing photographs and identify the rooms, features, and styles that will most appeal to individual buyers. The platform personalizes the buyer experience so users see homes they are likely to buy rather than undifferentiated search results, and it allows listing agents to run that same preference engine in reverse to identify active buyers for specific properties. Purlin positions its technology to support the entire homebuying process beyond brokers, with potential applications in escrow, title, and mortgage finance as highlighted by investors. The company closed a $1.5 million seed round from strategic and angel investors and announced a commercial agreement to integrate its technology with a major brokerage. As part of that commercial relationship, Douglas Elliman agreed to have Purlin's technology power systems used by its 6,600 agents and 46,000 annual clients. Leadership—including CEO Giorgi Chigogidze, CTO Ilya Dorfman, and CMO Chris Steege—emphasizes first-party data and AI-enabled experiences to simplify agents' workflows and elevate client service.

Participated · Series B · Oct 2021

Persefoni is a Sustainability Management SaaS and AI platform serving companies and financial institutions. Its product lineup includes Persefoni Pro, a free self-guided offering for SMBs and supply-chain participants launched in March 2024 that has seen more than 6,000 organic sign-ups. The company is expanding its AI suite—PersefoniGPT and smart emission factor matching—and reports model breakthroughs in energy and utility bill management and physical risk modeling, with commercial products expected in 2025. Planned 2025 product releases include a dedicated Product Carbon Footprint/LCA capability, enhanced audit and controls, and a self-serve analytics builder. Persefoni has broadened from a pure enterprise model to include successful self-service offerings and has expanded Persefoni Pro to offer free multi-framework sustainability reporting in addition to carbon accounting. Management expects the recent progress and financing to carry the business toward profitability as early as the second half of 2025. Persefoni offers a Climate Management & Accounting Platform that helps businesses, financial institutions, and governmental agencies manage climate-related data, disclosures, and performance. Its software simplifies carbon footprint calculations, identifies decarbonization strategies, and performs climate trajectory modeling aligned to Paris Agreement temperature scenarios. The platform also enables benchmarking by region, sector, and peer group. The company has launched PersefoniGPT, an AI co-pilot product for carbon accounting and management, expanding its AI capabilities. Persefoni serves enterprise and financial-institution customers and emphasizes regulatory and disclosure workflows. Financially, the company has raised over $150 million to date, reflecting investor interest in its product and market opportunity. Persefoni offers an "ERP for Carbon Data" that automates carbon accounting and helps organizations comply with standards such as the Greenhouse Gas Protocol and PCAF. Its platform targets asset managers, banks, insurers, pensions/endowments and corporates across manufacturing, agriculture, energy, apparel, retail, software and business services. The company emphasizes avoiding proprietary methodologies to ensure auditability and claims automated accounting without consulting services. Persefoni has strategic partnerships with Bain & Co., EDF and SMBC, has expanded into the Japanese market, launched a free-tier for SMBs and introduced a Temperature Scoring Model for 1.5C/2C implied temperature scenarios. It also integrates with the Patch offsetting platform on a commission-free, pass-through basis. Financially, the company recently completed a Series B and has raised a total of $114.2 million to date. Persefoni builds a carbon accounting and management platform that assembles, calculates, manages and reports organizational carbon footprints with real-time reporting on scope 1 through 3 emissions. The company was founded only last January and launched its product in August alongside an initial $3.5M raise. Persefoni has attracted corporate customers, with private equity firms like TPG signing on to its service. The startup recently added Robert G. Eccles, founding chairman of the Sustainability Accounting Standards Board, to its board of advisors. It plans to use new funding to support international expansion, product development, and recruitment. Persefoni develops an AI-powered carbon footprint management platform that generates business-centric sustainability reports and automates organizational emissions accounting. The company was founded in January by Jason Offerman, Kentaro Kawamori and Kim Stroh and is based in Tempe, Arizona. Persefoni plans to use its seed funding to continue product development, add features for large customers, expand its team beyond an 18-employee base, and pursue a Series A. The company said full availability of the platform will come in the fourth quarter and that it anticipates several million in sales by the end of the year. Persefoni positions itself against consumer and enterprise alternatives such as Klima, Salesforce Sustainability Cloud and SAP’s Climate 21 products, viewing some as competitors and others as potential partners. The platform emphasizes serving clients that are already serious about sustainability and meeting institutional investor demand for annual sustainability reports.

Participated · Seed · Oct 2021

Humming Homes has built a digital-first, end-to-end home management solution for single-family homeowners that combines software, data and insights with dedicated in-person home management teams and 24/7 live support. The product offers a single point of contact to coordinate maintenance, vendors, and preventative upkeep to avoid reactive and expensive home repairs. The company targets mass-affluent single-family homes valued above $750K in dense, desirable markets such as The Hamptons, Greenwich, Westchester, Miami, Greater Los Angeles, Scottsdale, and parts of Texas. Since launching services in October 2020, Humming Homes now operates across the tri-state area and manages roughly $500M in home value. The business was incubated with AlleyCorp and its founding team brings experience in real estate, on-demand marketplaces, and technology-enabled services. Humming Homes plans to expand beyond its initial Northeast markets, launch in South Florida later in 2021, and broaden distribution via a strategic partnership with Douglas Elliman.