JLL to acquire Sequoia-backed Israeli proptech venture Skyline

 JLL to acquire Sequoia-backed Israeli proptech venture Skyline

US real estate services behemoth Jones Lang LaSalle (JLL) Inc has signed a pact to acquire Israeli proptech company Skyline AI, which uses artificial intelligence to process information for real estate experts.

JLL said in a statement that the acquisition of the proptech company will help it gain a competitive advantage in the origination and analysis of real estate opportunities. It did not disclose any details of the transaction.

“The acquisition of Skyline AI is a significant step for JLL as we look to provide the most strategic and creative advice to our clients,” said Richard Bloxam, CEO of Global Capital Markets, JLL.

Skyline was founded in 2017 by Guy Zipori, Amir Leitersdorf, Iri Amirav, and Or Hiltch, who have together been investing in tech companies in the past. The four have, in the past, sold a company to IronSource and AVG in 2011 and then entered the real estate sector in 2017, with Skyline.

JLL will set up a research and development centre in Israel, using Skyline’s technology. It will also incorporate Skyline AI technology and proprietary data into its products.

Skyline has been backed by JLL Spark, the real estate company’s investment arm, since 2018. Skyline’s other backers include TLV Partners, Sequoia Capital, iAngels, Arbor Ventures and NYCA Partners.

The company has raised $21 million since it was founded four years back. It employs 30 people.

JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 92,000 as of June.

Aman Malik

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