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REA Group has invested in an AI-powered property search tool designed to offer home buyers a reimagined experience and boost efficiency in their property search.
REA Group has announced its 10 per cent investment in London-based AI property portal, Jitty, providing buyers with deeper insights and enhanced imagery.
The company said the start-up, founded in 2023, utilises cutting-edge AI, including large language models (LLMs), computer vision, and natural language search.
“The funding will support Jitty to grow its team, expand its reach across the UK, and continue developing features that offer buyers deeper insights and useful tools in their home-buying journey,” REA said.
A seed round led by REA also included investment from Gradient Ventures, Google’s AI-focused venture fund.
REA Group chief product and audience officer, Melina Cruickshank, said AI enables an immersive experience, allowing buyers to visualise a home as if they’re physically there.
“We’re seeing some great examples outside of Australia where start-ups have reimagined the consumer experience with AI and imagery at the core,” she said.
She added that Jitty stood out to REA due to the team’s desire to completely redefine traditional property discovery.
“They have computer vision interpret images and floorplans at scale to surface listings that align with buyer intent. Their pace of growth and evolution in a short time is impressive,” she said.
“We’re very pleased to support Graham and the Jitty team as they continue to innovate. Their approach closely aligns with our philosophy that the rapid changes in technology will transform property experiences.”
Jitty co-founder and CEO, Graham Paterson, said the investment marks a pivotal moment for Jitty.
“We’ve seen fantastic growth since launch, and this funding lets us accelerate our rollout, expand our partnerships, and double down on our mission to build the future home-buying experience,” he said.
“We’re thrilled to welcome REA Group as partners – their global expertise and commitment to innovation will be invaluable as we scale,” Peterson concluded.
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