SERHANT. raises $45 million to further develop its AI platform

Ryan Serhant’s eponymous brokerage has experienced rapid growth this year following the success of the Netflix show “Owning Manhattan,” and now investors want in on the action.

SERHANT. announced Monday that it has raised $45 million in a Series A financing round led by a real estate venture capital firm Camber Creek and participation of Left lane Capital.

The investment – ​​it goes SERHANT. Technologies, the umbrella company that encompasses the brokerage – will be used to develop the company’s AI platform, known as S.MPLE. The company is confident that S.MPLE will optimize workflows and help scale other parts of its business, including its brokerage.

“Through our best-in-class technology and creative approach and solutions, we are expanding at an unprecedented pace,” Serhant said in a statement. “It’s in my DNA to drive creative solutions that meet the real needs of today’s merchants and create unparalleled innovation. I am proud to partner with two leading venture capital firms to build on the great work our teams have done over the past four years.”

S.MPLE was launched earlier this year and SERHANT. is pleased with the results so far. The company claims the platform has processed more than 1,400 requests and saved agents more than 5,000 hours of work time. The platform’s net promoter score is 97, with 95% repeat usage within five days.

The broker side of SERHANT. Technologies has experienced explosive growth since the debut of ‘Owning Manhattan’. In the immediate aftermath of the show’s premiere in late June, SERHANT. Vice president of strategic growth Todd Sheridan said the brokerage saw a 400% increase in inbound leads for agents and an 88% increase in social media impressions.

The company has capitalized by adding agents and teams at a rapid pace. Additions this year include brokers in Atlanta, South Carolina and New Jersey.

Camber Creek was founded in 2011 with a focus on real estate and has nearly $1 billion in assets. Among the companies it has invested in are Bow, Bilt Rewards, Evidence, Curbio, VTS And HappyCo.

Left Lane Capital was founded in 2019 with a focus on consumer-facing internet and technology companies. His investments include Kings League, LOVE, Bilt Rewards, Blank Street, M1 Finance, Flyer, Masterpieces, Talkiatrics, Kittl And Actually.

“Ryan and the SERHANT. team are at the forefront of creating a content-to-commerce engine that is transforming the real estate industry,” said Jeffrey Berman, managing director of Camber Creek, in a statement. “By seamlessly integrating advanced technology with high-quality real estate expertise, SERHANT. has created a powerful flywheel effect, driving exponential growth and engagement on their platform.”