Australia’s leading property technology company has secured $4 million in strategic capital investment from established national investment and development firm Axiom Properties Ltd (Axiom).
PointData’s AI-powered technology can instantly identify and map every residential site for sub-division and development in a city, with the company seeking to be a premier provider of property data and analytics to the residential property sector across the country.
The latest injection of capital will enable PointData to scale its technology and human resources and deliver on its expansive national growth plans, as it generates new data to find answers to some of the biggest questions facing the property market. With capabilities across South Australia, Western Australia and Victoria, PointData is continuing its ambitious data rollout plan across the country with the backing of its new investors.
PointData has secured close to $7m of fresh capital from investors, including new private and family office investors across Australia, in this latest round to further demonstrate the strong level of external interest in PointData’s machine learning driven technology and data capabilities. Axiom’s investment endorses and validates PointData’s unique capability in the market.
Ben Laurance, Axiom’s managing director, said: “We are very excited to have a cornerstone shareholding in PointData. It’s a substantial investment in a future key player in the wider property technology ecosystem.” “As one of the few companies in the market that generates its own data and analytics capabilities, PointData is uniquely positioned to provide optimised data and analytics to help solve complex issues facing the sector at large,” Mr Laurance said.
Axiom is a sophisticated property development and investment company, having developed and delivered more than $750m of major commercial and residential projects across Australia. Projects include the 600 lot Glenlea Estate residential subdivision development in Mount Barker, South Australia, the development of Butler Central Homemaker Centre in Butler, Western Australia, and development of the South Australian Government Emergency Services State Control Centre.
Axiom, following a strategic review of its operations, has determined that additional investments in the wider property sector, including innovative proptech companies, are expected to deliver enhanced returns to its shareholders. PointData is the first of such opportunities for the investment firm. George Giannakodakis, CEO and Founder of PointData said: “We are thrilled to have Axiom on board as a new shareholder of our company.”
“Axiom brings a strong level of experience in the property sector and connections to commercial and financial parties that we believe will be of significant benefit to PointData as we accelerate our growth plans,” Mr Giannakodakis said. “Axiom’s investment is a strong endorsement and validation of the technology platform that PointData has built over the last three years and we’re very much looking forward to working with Axiom to deliver on our ambitious strategy.”
Axiom will be provided a seat on the PointData Board of Directors and will offer strategic direction to the growing proptech company. The experienced PointData board includes Chairman Con Tragakis, who has held positions at KPMG SA as its Chair of Partners and at fintech start-up Tic:Toc Home Loans as its inaugural Board Chair, and Carol Chris, who is Regional GM, Australia and New Zealand of GBG Plc and a former Equifax Executive GM of Product & Marketing.