Shilo makes a virtual assistant meant to boost real estate agents’ productivity. The cash infusion comes as interest in artificial intelligence soars.
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In a sign that artificial intelligence continues to capture the minds of investors and real estate professionals alike, tech firm Shilo has announced that it just raised $2.6 million to further develop the technology.
In a statement, the company announced that the money came in via a seed round of fundraising led by AZ-VC — the largest venture capital fund in Arizona. The statement adds that the new cash infusion “will accelerate Shilo’s product development and go-to-market expansion, helping bring its AI assistant to more teams across North America.”
Shilo produces an AI assistant that performs a variety of tasks. According to the company’s website, the assistant can provide agents with feedback, grade and transcribe their calls, and even answer business questions.
Justin Benson
In the statement, Shilo co-founder Justin Benson said the company is “not here to build another tool.”
“We’re here to build the AI teammate every elite agent will use daily — one that listens, learns and helps them win,” Benson added. “That teammate’s name is Shilo.”
Shilo’s new funding arrives amid an intense wave of interest in artificial intelligence. That wave began in recent years thanks to the popularity of tools such as ChatGPT and Midjourney. More recently, numerous real estate companies have rolled out virtual assistants and other tools — some of which have increasingly human characteristics.
In the case of Shilo, the company provides agents with a dashboard that, among other things, lists the calls they’ve made and rates how productive those calls have been.
Ashok Santhanam
In the statement, AZ-VC Managing Director Ashok Santhanam framed Shilo’s new funding round as part of the current wave of interest in AI.
“AI is having a breakthrough moment, but real impact comes when you embed that intelligence into the day-to-day of real work,” Santhanam said. “Shilo is the first AI product we’ve seen that’s truly built for the unique demands of real estate. This team has a rare combination of product clarity, execution speed and deep customer empathy.”
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