M
ave, an AI assistant for real estate professionals, has secured C$2 million in pre-seed funding and launched its beta program for agents and brokers. The funding round was led by Relay Ventures and N49P, with participation from Alate Partners, Clarim Ventures, and Gambit Partners, as well as several angel and strategic investors.

    Mave's founder and CEO, Raz Zohar, became curious about the extensive work real estate agents do behind the scenes after buying his first home. He discovered that agents spend over 35 hours on administrative tasks per transaction, and the industry has not improved significantly despite this. To understand the issue firsthand, Zohar worked as an executive assistant for agents in the Greater Toronto Area.

    Recognizing a gap in support for agents due to commission splits and limited resources, Mave was born as an AI assistant leveraging artificial intelligence (AI) and large language models (LLM). Even though it has been operating in stealth mode, Mave has attracted interest from over 6,000 real estate agents across 90 brokerages. The company has selected 1,000 to initially onboard for its beta program.

    To support agents, Mave has secured access to extensive market data and property information through partnerships with real estate boards and other data providers. Agents can now quickly respond to client requests using the AI assistant, which is trained on deep insights from these data sources. For example, an agent can text "What is the price per square foot of homes in this postal code?" and receive an instant answer.

    The Mave AI assistant automates backend tasks such as creating social media posts, marketing materials, emails, and presentations in seconds. Agents primarily use their phones to interact with the AI assistant through text messages, fitting seamlessly into existing workflows. The daily wins and use cases shared by agents testing the platform have exceeded expectations, including securing a listing within 24 hours and selling a property for $100,000 over the asking price.

    Among the first Mave beta customers is PSR Brokerage, a luxury boutique real estate firm with over 150 agents in Southern Ontario. Within the first week of signing up to participate in the Mave beta program, 60% of agents use the AI assistant at least six times per week.

    Key quotes from investors and users highlight the potential of Mave to modernize the real estate industry:

    "Mave is the first solution we've seen that really solves the core problems the industry faces... Raz's vision is to harness the power of AI so any brokerage can streamline its backend operations." - Alex Baker, Managing Partner at Relay Ventures

    "With the funding in place, we are expanding our development to establish Mave as a full-time assistant... This will enable agents to focus on what matters most – servicing their customers and growing their brand." - Raz Zohar, founder and CEO of Mave

    "Mave gives our agents a competitive advantage by providing them with the exact support they need to improve their responsiveness to clients. With Mave, we finally found the perfect solution to enable our teams to meet this demand effortlessly." - Joshua Chisvin, VP of Resale, Partner at PSR Brokerage