CareerSocially, an AI-enabled proptech startup, is acquiring Bengaluru-based property discovery portal Housingman, as part of a million-dollar funding deal.

The acquisition will help the Noida-based company to strengthen and expand its portfolio of artificial intelligence-driven sales and marketing solutions. The funding, meanwhile, was led by software maker Indus Group Inc. and serial investors Bobby Reddy and Ajay Sarupria. While Reddy has backed more than 20 startups, Sarupria’s investments span sectors from electric vehicles to financial technology.

CareerSocially helps real estate developers bring in cognitive automation to their customer outreach efforts and lower their cost of sales. Its platform enables them to drive customer engagement, connect with real estate agents and manage the end-to-end workflow. "In the current pandemic situation, developers are keen to lower their cost of sales and marketing through automation and digital transformation,” said Prakash Tejwan, chief executive officer of CareerSocially.

Real estate technology firms - or proptech startups - are attracting investors due to a pandemic-induced digital transformation in the sector. At least half-a-dozen technology firms - such as Renewate, Exprs, LivSafe and PropVR - have raised seed funding from angel investors, private equity and venture capital funds to grow their businesses.

“The real estate sector is ripe for digital transformation and it must use machine learning and AI to streamline its marketing operations,” said Bobby Reddy. “Builders must embrace a data-led approach to winning businesses, and CareerSocially has the technology and the team to create a seamless experience for their operations.”