Henry AI Inc. has announced a $16.5 million Series A round. FirstMark Capital led the round. Thomson Reuters Ventures participated, along with follow-on investment from Y Combinator, Susa Ventures, 1Sharpe, StoryHouse Ventures, Pioneer Fund, RXR Arden Digital Ventures, Karman Ventures, and Coalition Operators. Adam Nelson, Partner at FirstMark Capital, has joined Henry’s board of directors.
Henry automates the document layer for commercial real estate deal production, including offering memorandums, underwriting, pitch decks, and buyer lists. Teams from all of the industry’s largest commercial real estate brokerages are on the platform, reaching more than 150 firms. The platform has produced more than 20,000 client-ready deliverables representing more than $150 billion in underlying deal value.
Analyst production time is down 90%. Work previously estimated at 15 hours per deliverable now takes about 30 minutes of human review. More than 20% of Henry’s customers have reduced staffing requirements as a direct result.
Henry has launched Henry Deal, which turns a firm’s institutional memory into deliverables across the full lifecycle of a transaction, from underwriting to packaging to close. The new capital will expand Henry’s engineering and product teams as it builds from a document engine into a system of record for commercial real estate deals.
KEY QUOTES:
“Every deal in commercial real estate is buried under a pile of documents that someone had to make by hand. But the documents are just the surface. The real problem is that these firms are sitting on the most valuable data in the industry and can’t actually leverage it. We started by automating the deck. With Henry Deal, we’re shipping the system of record that turns that institutional knowledge into every deliverable a deal needs.”
Sammy Greenwall, Co-Founder and CEO, Henry
“What made Henry impossible to ignore was not just the growth, but the evidence that customers were beginning to treat it as an extension of their team. Henry combines deep commercial real estate expertise with a technical team that is translating that insight into product at remarkable speed.”
Adam Nelson, Partner, FirstMark Capital
“The bottleneck in CRE has never been the data, it’s the cost of turning data into finished deliverables. Every step in the deal chain has been done manually by expensive people under deadline pressure. We built Henry to automate that entire layer. Now we scale it.”
Adam Pratt, Co-Founder and CTO, Henry
