• by Ray Schultz , August 29, 2017

Amitree, a firm that facilitates real estate transactions through an email-based intelligent assistant, has raised $7.1 million in Series A funding.

The round was led by Vertical Venture Partners, with participation from existing investors: Accel Partners and Tom Gonser, founder of DocuSign, through Seven Peaks Ventures. Gonser will join the board.

Amitree’s total funding now totals approximately $13 million. The company plans to use the money to finance further growth and adoption in the real estate industry.

The company offers Folio, an intelligent assistant for real estate transactions. The software uses machine learning to process millions of emails and understand agents’ transactions, the company says. 

Agents can look at transaction-related emails and see contextual information, including the timeline, files, contacts and status, the company says.

In general, they can also use Folio to manage their workflow. The product reduces busywork and eliminates quadruple entry of events into multiple systems, Amitree says.

"Gmail is a fundamental part of how we do business, and Folio makes our Gmail just a little bit smarter,” states Matt Fuller, Realtor, 2017 president of the San Francisco Association of Realtors.

"Real estate is going through a shift toward more intelligent tools that help streamline the experience," said Gonser.

Amitree claims that 5% of all U.S. real estate transactions are now managed with Folio.