The real estate industry, valued at over $600 trillion globally, still runs on manual processes that slow down deal-making. But one startup is rewriting the rulebook. Algoma, an AI-native real estate development platform founded by three Harvard alumni, just secured $2.3 million in seed funding to fast-track its mission: turning addresses into deals, in minutes—not months.
The funding round was led by Zacua Ventures, with backing from SOSV, Iron Prairie Ventures, DOMiNO Ventures, Compose VC, and a group of seasoned angel investors from the AI, real estate, and construction sectors. Algoma plans to grow its engineering team and deepen its product capabilities, pushing forward its mission to become the go-to digital layer in pre-construction development.
The need is clear. Pre-construction remains one of the most fragmented, risk-prone phases in real estate. Developers must wade through regulatory hurdles, permitting delays, and endless feasibility studies—all without modern tools. Algoma is changing that.
Founded by Josef Bromovsky (CEO), Kyle MertensMeyer (CPO), and Seyfihan Usarer (COO), Algoma brings firsthand experience and academic firepower to the table. Bromovsky and MertensMeyer are Harvard Business School grads, while Usarer sharpened his analytical skills at McKinsey.
Their AI-powered platform pulls zoning data, construction costs, capacity modeling, and market intelligence into one sleek workflow. Developers no longer have to piece together spreadsheets or wait weeks for consultants. With Algoma, feasibility studies, pro formas, and site visualizations can be completed in a single digital session.
Bromovsky, who has spent years navigating outdated systems, said the company was born out of frustration. Developers often miss out on opportunities simply because decision-making takes too long. Algoma eliminates the bottlenecks, offering clarity, speed, and actionable insights when they matter most.
Targeting the Underserved: Small and Mid-Sized Developers
While many tools cater to institutional players, Algoma is focusing on the teams often left behind: the small and mid-sized developers building infill housing, mixed-use properties, and affordable units. These builders are essential to urban growth, yet they rarely have access to sophisticated digital infrastructure.
Algoma delivers features tailored to their needs—instant zoning checks, unit layout planning, pro forma creation, and visual tools for pitching projects to investors or city planners. The results are already turning heads.
Scott Weathers from Advenir Development shared that tasks which once took weeks now wrap up in a day. Amerigo Contini of ACE Real Estate called Algoma a “repeatable foundation” for early-phase analysis, reducing time and cost while offering flexibility.
Leading with Sustainability and Mass Timber Projects
Algoma isn’t just speeding up workflows—it’s also rethinking how developments get built. The startup recently unveiled a four-story mass timber residential project in Savannah, Georgia. Mass timber drastically lowers a building’s carbon footprint and represents a tangible step toward greener construction practices.
Their standardized design libraries and AI-powered automation not only slash build times but also improve environmental outcomes. It’s a solution that supports the housing crisis while making sustainability more scalable.
As AI adoption accelerates in real estate—currently, over 70% of agents and property managers are integrating AI tools—Algoma is riding the wave with a clear niche. Its platform attacks one of the most overlooked inefficiencies in real estate: the pre-construction phase. With the U.S. facing a housing shortfall of over 5 million homes, the ability to move faster and smarter is no longer optional—it’s essential.
What’s Next for Algoma? A One-Stop AI Real Estate Engine
Looking ahead, the team envisions a fully integrated web platform by 2027. Developers will have access to real-time zoning feedback, customizable dashboards, and intelligent compliance checks across asset classes including retail, commercial, and hospitality. Expansion into larger firms and global markets is also on the roadmap.
CPO Kyle MertensMeyer emphasized that the platform is shaped by deep user engagement and a desire to tackle real pain points. “We’re not building for hype—we’re solving real inefficiencies,” he said.
Algoma’s rise signals a new era in real estate development—one that prioritizes automation, data-driven decisions, and environmental responsibility. As cities evolve and demand grows, Algoma aims to be the engine behind the next generation of smarter, faster, and greener real estate.
