Real estate is the world’s largest asset class, globally valued at over $600 trillion, yet much of it still runs on manual labour and outdated processes. The pain is most acute during pre-construction, where developers must navigate high-stakes decisions with fragmented information and little transparency. Algoma, the AI-native real estate development platform that helps developers turn an address into a deal, tackles this challenge head-on.
Today, Algoma announced it has raised $2.3M in seed funding. Founded by three Harvard graduates, Algoma’s funding round was led by Zacua Ventures, with participation from SOSV, Iron Prairie Ventures, DOMiNO Ventures, Compose VC, and a network of angel investors across AI, construction, and real estate. The valuation was not disclosed to TFN.
Algoma plans to invest the funds in expanding its engineering team, enriching its product suite, and advancing its web platform. “We invested in Algoma because they’re solving a foundational problem in the built environment, bringing speed, structure, and confidence to site selection and feasibility. Their platform empowers developers and contractors to make smarter decisions earlier, and we believe it will become an essential part of how the industry evaluates and executes new projects,” said Vivin Hegde, General Partner at Zacua Ventures.
Automating and streamlining the pre-construction process for real estate developers
Algoma was co-founded by Kyle MertensMeyer, Josef Bromovsky (CEO) and Seyfihan Usarer (COO), Harvard MBA graduates. Bromovsky brings a strong academic and entrepreneurial background from Harvard Business School, while Usarer previously worked at McKinsey & Company, gaining deep experience in business analysis and strategy consulting.
The company was created to address growing complexity and risk in real estate development, including regulatory hurdles, permitting delays, and economic uncertainty. The founders identified that traditional pre-construction workflows were slow, expensive, and manual, often taking weeks or months to complete feasibility studies and site analyses.
Algoma’s platform leverages AI to unify zoning research, market intelligence, capacity modelling, construction cost estimates, and pro forma generation into a single digital workflow. The result: developers can move from address to investment-ready in minutes, not weeks, without relying on expensive consultants.
“Our team understands the complexity of site analysis firsthand given we have spent our careers navigating it, zoning codes are buried in PDFs, developers rely on dozens of consultants, and they spend thousands of dollars and weeks, if not months, just figuring out if a site is viable,” said Josef Bromovsky, Co-Founder and CEO of Algoma. “They try to stitch together spreadsheets, email threads, and rough pro formas, only to find that the opportunity has already passed by the time they reach a decision. That’s why we built Algoma: to bring the speed, clarity, and intelligence that today’s developers deserve.”
Behind Algoma: focusing on small and mid-sized developers
While much of the real estate tech stack is built for large institutions, Algoma is intentionally focusing, in the near term, on a frequently overlooked segment: small and mid-sized developers. These are the teams behind urban infill projects, mixed-use developments, affordable housing, and workforce housing — the backbone of city-building across America.
The Algoma platform includes instant zoning analysis, market intelligence, site-specific design massing, unit mix and layouts, pro forma generation, and visualisation for investors and agencies. This approach is already resonating with customers.
Scott Weathers, Development Manager at Advenir Development, shares: “Having worked for the past year with Algoma, I had a phenomenal experience with their team and site feasibility technology. What used to take our team 3 to 4 weeks now happens in a day. Compared with traditional land planners, the speed at which they can produce a developable site layout at a fraction of the cost has greatly benefited our execution speed.”
Amerigo Contini, Principal at ACE Real Estate, adds: “Algoma’s technology has saved me a ton of time in the early phases and enabled me to move faster without reinventing the wheel every time. Their approach gives me a solid, repeatable foundation but enough flexibility to customise each project to the site and market.”
Sustainable innovation: Mass timber and environmental impact
Algoma’s commitment to sustainability is not just rhetoric. The company recently unveiled a four-story multi-family residential building in Savannah, Georgia, constructed using mass timber, a material that significantly reduces embodied carbon compared to conventional construction. This project exemplifies Algoma’s mission to set new benchmarks in environmental responsibility and architectural excellence.
By leveraging a standardised library of building components and automating design and engineering processes, Algoma accelerates project timelines and ensures precision and sustainability in every development. Their approach is helping to address the housing shortage while providing substantial schedule and cost savings to developers.
Algoma’s rise is part of a broader wave of AI adoption in real estate. Industry data shows that 85% of real estate agents using AI report significant time savings, and 74% of property management companies utilise AI for task automation. AI-driven platforms are now essential for analytics, decision-making, and delivering strategic advantages in a competitive market.
Algoma’s focus on automating feasibility studies and streamlining pre-construction addresses the sector’s chronic inefficiencies. The U.S. alone needs an estimated five million more homes to meet current demand — a challenge that can only be solved through more intelligent, faster, and more scalable development workflows.
Plans for Algoma? Becoming a full-fledged web platform
By 2027, Algoma’s founders envision a highly sophisticated, fully integrated web platform — a one-stop shop for pre-construction services. This will include seamless, intuitive interfaces, customised dashboards, and real-time data feeds for immediate insights into project feasibility, design optimisation, and regulatory compliance. The roadmap also includes expansion across asset types (commercial, hospitality, retail), scaling to larger developers, and international growth.
“Real estate has long been an antiquated industry, slow to change and reliant on ‘back of the envelope’ calculations,” said Kyle MertensMeyer, Co-Founder and CPO of Algoma. “We knew there was a better way. By deeply engaging with our users and building around their specific needs, we’ve focused our product on the real pain points, reducing risk for developers and earning trust in the process. That’s how we’re building long-term loyalty for Algoma.”
Algoma is redefining what’s possible in real estate development by combining AI-powered automation, sustainability, and a focus on underserved developers. As the industry embraces digital transformation, Algoma’s platform is poised to become an indispensable tool, empowering developers to move faster, make smarter decisions, and build the homes and cities of tomorrow.
