Rising demand for urban analytics is putting this proptech on the map

Unlike standard real estate data such as physical distances, square metres and capacity, the urban tech platform focuses on how people use the built environment and the enjoyment and amenity they derive. 

By combining digital data about social activity and behaviour with advanced analytics, the platform aims to transform the way property developers understand property data and make forecasts by looking at how neighbourhoods work, why others fail, success factors, and what to focus on next.

Additionally, Neighbourlytics also provides beyond traditional data sets to tap into the digital footprints people leave behind every day, including aggregated and anonymised mobile phone location data, public social media, ratings and reviews, and crowdsourced map data.

According to the firm, these social insights provided by the platform allow property developers and governments to de-risk capital projects by making consumer-centric decisions to ensure the amenities that will not only deliver a significant return on investment but also help build neighbourhoods where communities can thrive. 

“As a result, property developers sell faster and get the tenancy mix right to inform strategies for liveable neighbourhoods that deliver up to 300 per cent higher visitation,” the firm stated. 

The firm also claims its platform helps deliver a better return on investment for property developments, capital projects and placemaking activities in Australia and globally.

Ms Hartley said that over the last four years, urban analytics provided by their platform had been used to provide guidance for over $4.86 billion in asset management decisions. 

“This shows a growing maturity of the industry to prioritise leaving a legacy of great people places, not just buildings,” she commented. 

Ms Christiansen-Franks said that “there’s currently demand for lifestyle and behavioural data like never before”. 

“It’s no longer valid to look back at five-year-old census data, or rely on gut feeling, to understand what people want in an office building or shopping mall or how they look after their health and wellbeing. 

“Behavioural big data is the missing piece of the intelligence puzzle for our customers,” she stated. 

As a testament to the increasing demand for real-time social data, Neighbourlytics revealed that around 80 per cent of tier-one property developers across Australia are now using their urban tech — with the figures doubling in 2022. 

Additionally, the platform’s insights have been used by over 100 leading property developers in 12 countries. 

Notably, the platform has also been utilised to plan the legacy of the infrastructure of the FIFA World Cup Qatar, ensuring that the stadiums and precincts that were built to host this major world event can become a smart and sustainable community in the years after. 

To accelerate the start-up’s growth trajectory, Neighbourlytics also revealed it closed a pre-series A round of $1.3 million led by California-based venture capital firm ALIAVIA Ventures. 

The funding round focused on early-stage investing in US and Australia-based female founders building world-changing enterprise and consumer tech companies. 

LaunchVic’s Alice Anderson Fund, the angel sidecar fund that co-invests in women-led start-ups, has also banked on the firm during the funding round. 

The current round brings the total amount of capital raised to date by Neighbourlytics to $3.5 million, with existing investors including Trawalla Group, Myer Foundation, Scale Investors, and Portable following on their investments.

According to the firm, the investment proceeds will fund new hires in product development and sales and marketing and finance enhanced automation processes and advanced analytics models, including a deeper evolution of metrics that capture social sustainability.

“This capital raise is a launchpad as we lay the foundations for global expansion. It’s recognition of the maturing of Neighbourlytics as a business and the evolution of the real estate industry as a whole. 

“We’re excited to partner with a team of extraordinary investors as we continue to help our clients make better decisions that improve return on investment and community outcomes,” explained Ms Hartley. 

Marisa Warren, the co-founder and general partner at ALIAVIA Ventures, expressed her enthusiasm for the future of the venture. 

“We are super excited to lead the investment in Neighbourlytics to help accelerate global growth. We believe Neighbourlytics offers a new paradigm for the real estate and asset management industry by taking a real-time data-driven approach to property development and sustainability,” Ms Warren said. 

On a similar note, LaunchVic chief executive Dr Kate Cornick also voiced her excitement in helping Neighbourlytics enter “their next phase of growth”.

“We share a mission to elevate women-led start-ups and ensure incredible founders like Jessica and Lucinda can access the capital they need to grow and create jobs,” she stated.