Algoma Homes
AI-native platform automating real estate feasibility analysis.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor investor | €0.0 | round | |
| N/A | €0.0 | round | |
* | $2.3m | Seed | |
| Total Funding | 000k | ||
Algoma is an AI-native real estate development platform that assists developers in converting an address into a viable deal. The company was founded in 2023 by Harvard graduates Josef Bromovsky (CEO), Seyfihan Usarer (COO), and Kyle MertensMeyer (CPO) to address inefficiencies in the pre-construction process. Bromovsky has an entrepreneurial background from Harvard Business School, while Usarer gained experience at McKinsey & Company. They identified that traditional feasibility studies were slow, costly, and manual, often causing developers to miss opportunities.
The platform serves real estate developers, particularly small to mid-sized builders involved in urban infill, mixed-use, and affordable housing projects. Algoma's software automates and streamlines the pre-construction phase by unifying zoning research, market intelligence, capacity modeling, construction cost estimates, and pro forma generation into a single digital workflow. Its features include instant zoning analysis, market data visualization, site capacity configuration, and the ability to generate investor-ready presentations in days instead of months. By leveraging AI and a library of standardized building components, the platform aims to reduce costs, accelerate timelines, and enhance returns for developers.
Algoma operates on a venture capital-backed model and has secured significant funding to expand its operations. In May 2025, the company announced a $2.3 million seed funding round led by Zacua Ventures, with participation from SOSV, Iron Prairie Ventures, DOMiNO Ventures, and others. The funds are intended for expanding the engineering team and enhancing the product suite. The company also promotes sustainable construction through the use of mass timber to help reduce embodied carbon emissions in buildings.
Keywords: real estate development, automated feasibility studies, proptech, AI-native platform, pre-construction process, site analysis, zoning analysis, market intelligence, construction technology, mass timber, venture capital-backed, real estate technology, pro forma generation, site selection, development potential, architectural design automation, sustainable construction, investment analysis, multifamily development, urban infill projects