Artificial Intelligence Startup First.io Raises $5 Million |

First.io, an AI startup based in Durham, North Carolina, has raised $5 million in Series A funding to expand its predictive platform for real estate agents. Founded in 2016, the company uses machine learning to analyze contacts in an agent's database, predicting when individuals are most likely to buy a home based on salary, spending habits, and life events like marriage or job changes. The software then tells agents the optimal time to reach out, effectively turning passive contact lists into proactive sales opportunities. According to CEO Mike Schneider, the technology helps agents 'identify the relationships they should be nurturing' and 'unlock the latent value of an agent’s network.' The platform is already deployed by over 200 real estate firms.

The $5 million round was led by MATH Venture Partners, Nine Four Ventures, and @properties co-founders Thad Wong and Mike Golden. Wong noted that @properties can provide a 'platform to accelerate First’s growth not only within @properties but throughout the brokerage industry.' MATH Venture Partners managing director Troy Henikoff highlighted three criteria for investment: a superior management team, validated technology creating major efficiencies in an under-innovated area, and a significant customer acquisition advantage. The new capital will accelerate development of 'innovative products to help top agents leverage industry-leading intelligence,' with a focus on analyzing large-scale client bases through AI. First.io was once a runner-up at a Realogy startup contest and continues to gain traction in the proptech space.