Portland-based Prophetic, a rising star in real estate development software, has successfully closed a seed funding round to fuel its mission of transforming site planning and data analysis for the real estate industry. This move comes on the heels of the company’s launch in 2024, aiming to streamline processes for developers, homebuilders, and brokerages.
Founded by Oliver Alexander, who previously built Orchid Health, a medical clinic business serving rural communities in Oregon, Prophetic is focused on automating key aspects of the real estate development process. The software helps with site planning, data extraction, and other critical functions, providing a more efficient and data-driven approach to development projects. Prophetic’s platform is positioned to directly compete with other players in the market, like CityBldr, a Seattle-based startup targeting commercial real estate clients.
The seed round, which remains undisclosed, was led by Entrada Ventures, a firm known for its investment in innovative startups like OpenTug, a Seattle maritime software company. Other participants in the funding round include SilverCircle and Progression Fund. The company currently employs 11 people and plans to expand its team as it grows.
Prophetic’s vision is to simplify the real estate development workflow, bringing new levels of efficiency to an industry that traditionally relies on manual processes and fragmented data. With this seed funding, Prophetic is poised to enhance its technology and scale its operations, providing a powerful tool to real estate professionals looking to navigate the complexities of site analysis and development.
As Prophetic continues to develop its software and expand its market presence, it is likely to play a pivotal role in the ongoing digital transformation of the real estate industry.
Stay tuned to Enterprise Edge for more updates on this and other emerging tech startups shaping the future of industries worldwide.