Prophetic, a leading software platform for real estate development opportunity analysis and land acquisition, announced its national expansion and completion of its seed funding round, led by Entrada Ventures with participation from SilverCircle, Progression, and others.
Created for developers, homebuilders, brokers, architects, and more, Prophetic replaces outdated tools with automated site planning, statewide development maps, statewide zoning maps and extracted zoning control data, and outreach tools all in one place.
Prophetic’s tools include:
1.) SiteAi – Create zoning-compliant site plans for subdivisions in seconds. Prophetic’s AI determines ideal lot & road locations and calculates yields net of wetlands and flood plains, including setbacks. A huge improvement in the yield study process that shaves weeks & thousands of dollars from development timelines
2.) DevMap – Prophetic’s statewide map of all new developments in progress. Spot emerging markets, monitor competition, and operate like you’ve got a team of analysts in your back pocket
3.) Zoning maps – All zoning maps, for all cities & counties across each state, in one place. And extracted zoning control data such as minimum lot size, min/max density, setbacks, and more – available for all zones in all municipalities
4.) Development Intention Search – Search for land by intended development type via Prophetic’s industry-first development intention search including filtering by key zoning regulations, zone type, and more
5.) Statewide Diligence Maps – Rapidly assess environmental conditions with Prophetic’s integrated statewide wetlands, FEMA flood zones, Brownfield & Superfund, and other crucial diligence map layers
6.) Handwritten Letters – Send handwritten real ink letters to any landowner in 30 seconds within Prophetic to expand your off-market acquisition pipeline with unprecedented efficiency
Launched in July 2024, Prophetic is available in California, Oregon, Washington, Florida, Texas, Georgia, Arizona, Colorado, Utah, Idaho, and Nevada. And in the coming months, Tennessee, Maryland, and other states will come online as Prophetic responds to customer needs. Prophetic’s expansion is driven by the recent completion of its seed funding round led by Entrada Ventures.
KEY QUOTES:
“The real estate development, homebuilder, and brokerage industries have long needed advancement in technology that lets them move faster in identifying development opportunities. Whether you’re a multi-billion dollar national outfit, or a single-person development shop, you’re using the same resources: county websites, Google Earth desktop, and Excel sheets. Prophetic delivers immediate return on investment by letting our customers move about 40x faster, and significantly grow their businesses by expanding their acquisitions pipeline.”
– Oliver Alexander, Founder & CEO of Prophetic
“We’ve been utilizing Prophetic to support our land acquisitions for approximately one year. This software has streamlined our workflow and saved us hours. Prophetic is promoting higher productivity throughout our company!”
– Debbie Connor, of Holt Homes in Washington State
“Prophetic brings key data points to life that simplify and hasten land investment decisions. It’s easy to use and valuable for people new to the industry and seasoned alike.”
– Adam, a Prophetic customer working with his team across 18 counties in California
“At Entrada Ventures, we get excited about founders bringing legacy industries into the modern cloud and AI era. What Oliver and the team at Prophetic are building is a great example of this; they have already demonstrated the ability to consistently save real estate developers huge amounts of time and money on every project. With this capital, their upcoming innovations and geographical expansion will continue to reduce costs and accelerate development timelines for builders and developers across the country.”
– Eric Kanowsky, Managing Partner, Entrada Ventures
“Prophetic’s AI platform that finds, analyzes, and evaluates development opportunities is a breakthrough — nothing like it exists, and the market clearly sees that. We’ve rarely seen this level of early customer engagement, and they’re just getting started. I’m thrilled to partner with Oliver and the team.”
– Lex Alvarez, Principal at SilverCircle
“What Prophetic is building is something that is only possible with this new wave of AI technology and solves a real problem with immediate return on investment for its customers by allowing developers to identify and analyze opportunities in minutes for a task that used to take hours. Pair that with an ideal founding team of deep technical and product talent along with a proven founder in Oliver who is wizard with sales, go-to-market and business development made this a no-brainer opportunity.”
– James Veraldi, of Progression Fund
