Israeli Generative AI startup, Colleen AI, has been acquired by Entrata, a premier AI-enabled multifamily Operating System (OS), enhancing its capability to automate property operations. Integrating Colleen AI into the Entrata OS enables operators to advance towards autonomous property management, signaling a new era for the industry.
Only 10 months ago, Colleen AI closed it $3.5 million Seed funding round, led by Wilshire Lane Capital (backed by Morgan Properties) with participation from Skybox Capital.
Entrata’s vision centers on Autonomous Property Management, automating workflows and increasing portfolio efficiency while enhancing the resident experience.
The acquisition introduces ELI+, a sophisticated AI product suite designed to automate end-to-end workflows. ELI+ provides operators with AI-powered tools to enhance business efficiency through modular, cutting-edge AI and machine learning technology. Operators will gain immediate access to AI-driven collections and renewal modules, with additional modules, including leasing, to follow.
“We could not be more excited to have found a partner like Entrata to accelerate the development of an AI solution that we feel will usher in a new era for the multifamily industry,” wrote Itamar Roth in an announcement on their website.
Entrata’s AI products, integrated within the OS, deliver superior automation and workflow management. Leveraging thousands of data variables, ELI+ automates and contextualizes interactions, offering an advantage over non-native AI solutions. This consolidation facilitates Conversational Context Switching™, allowing AI to seamlessly transition between tasks based on resident data and workflows.
“The acquisition of Colleen AI accelerates our vision of Autonomous Property Management by providing comprehensive AI capabilities and market-ready functionality,” said Adam Edmunds, CEO of Entrata.
Colleen AI shareholders, including Wilshire Lane Capital, will become shareholders of Entrata.
