Fifth Dimension AI Raises £2.3M in Pre-Seed Round, Paving the Way for Real Estate Transformation

Fifth Dimension AI, the company at the forefront of amplifying exceptional real estate professionals, proudly announced a substantial £2.3 million pre-seed round investment as it emerges from its successful pilot phase. This financial boost propels their mission to revolutionize an industry that has been hesitant to embrace the digital age.

Fifth Dimension AI’s flagship product, Ellie, leverages automated processes and machine learning to empower professionals in data-intensive sectors, particularly real estate. Ellie harnesses the potential of Large Language Models (LLMs) to unlock human potential by liberating experts from the tedious chore of sifting through copious documents. In a fraction of the time, it transforms complex data into actionable insights. Already, Fifth Dimension AI boasts nearly ten major real estate firms as clients, including renowned names like Hamptons.

The pre-seed investment round was co-led by Anthemis’ Female Innovators Lab Fund and Seedcamp, accompanied by key contributions from Ascension Ventures Ltd, Concrete VC, Love Ventures, Sie Ventures, and Twin Path Ventures. These funds will be instrumental in enhancing Ellie’s capabilities to cater to a wider audience within the real estate industry.

Founded in January 2023 by Johnny Morris and Dr. Kate Jarvis, Fifth Dimension AI merges their extensive knowledge spanning real estate, finance, and technology. Dr. Kate Jarvis, a linguistic expert with a PhD from Stanford University, brings her decade-spanning experience in bringing Machine Learning-powered products to market. Johnny Morris, with over a decade of real estate expertise, has held pivotal roles as Chief Operating Officer at Wayhome and Analytics Director at Countrywide.

This investment arrives at a crucial juncture, with productivity continuing to be a pressing concern in the UK. KPMG forecasts predict that high-interest rates and low productivity will hinder growth, with GDP growth slowing to just 0.4% in 2023 and 0.3% in 2024. Ellie, designed to enhance productivity and empower exceptional teams in document-heavy industries, serves as a valuable partner by automating time-consuming tasks, allowing professionals to focus on value creation and their areas of expertise.

The potential for increased productivity in the real estate sector carries significant benefits. Residential real estate remains the world’s largest asset class, and with predictions of a rebound in 2024 for both residential and commercial real estate, the timing couldn’t be better.

Dr. Kate Jarvis, Co-Founder & CEO of Fifth Dimension AI, expressed her vision, saying, “We are on a mission to redefine the world of work, beginning with the real estate industry. With Ellie, we are providing real estate professionals with a solution that will lift them out of time-consuming, repetitive, and boring work, enabling them to lead happier, purposeful, and more fulfilled lives.”

Johnny Morris, Co-Founder & Chief Product Officer of Fifth Dimension AI, added, “With Ellie as their partner, we believe the next generation will have the power to truly move the industry forward.”

With this promising infusion of capital, Fifth Dimension AI is well-positioned to transform the real estate landscape, unlocking the potential of professionals and catapulting productivity in the industry to new heights.