Henry AI Raises $16.5M to Expand CRE Deal Automation
Henry AI Inc. has raised $16.5 million in Series A financing to expand its artificial intelligence platform for automating document-intensive work across commercial real estate transactions.
FirstMark Capital led the round, with strategic participation from Thomson Reuters Ventures. Y Combinator, Susa Ventures, 1Sharpe, StoryHouse Ventures, Pioneer Fund, RXR Arden Digital Ventures, Karman Ventures and Coalition Operators also invested. FirstMark partner Adam Nelson joined Henry’s board.
Henry said its platform is used by teams at more than 150 firms, including each of the largest commercial real estate brokerages. It automates work involving offering memorandums, underwriting, pitch decks and buyer lists.
The company has produced more than 20,000 client-ready deliverables associated with over $150 billion in deal value. Henry said its technology has reduced analyst production time by 90%, cutting work previously estimated at 15 hours per deliverable to about 30 minutes of human review. Median turnaround across the platform is less than four hours, according to the company.
More than 20% of customers have reduced staffing requirements after adopting the platform, Henry said.
“Every deal in commercial real estate is buried under a pile of documents that someone had to make by hand,” co-founder and CEO Sammy Greenwall said. “But the documents are just the surface.”
Henry plans to use the financing to expand its engineering and product teams and develop its platform into a system of record for commercial real estate transactions.
That expansion includes Henry Deal, scheduled to launch June 15. The product is designed to organize firms’ historical underwriting models, transaction records and client relationships, then use that institutional data to produce materials throughout a deal’s lifecycle.
“The bottleneck in CRE has never been the data — it’s the cost of turning data into finished deliverables,” co-founder and Chief Technology Officer Adam Pratt said.
Pictured l to r: Henry AI co-founders Sammy Greenwall and Adam Pratt
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