Grotto AI
Category: AI in Real Estate / Proptech
AI-powered sales coaching and guidance platform for multifamily property leasing teams Grotto AI was founded in 2025. The company is led by Nick Deveau. Based in New York, New York. Team size: 11-50. Total funding raised: $14M. Latest round: Seed. Key investors include ICONIQ Capital, Asymmetric Capital Partners, David Dear, Caren Maio, Avi Dorfman.
- Founded
- 2025
- Headquarters
- New York, New York
- Team size
- 11-50
- Total funding
- $14M
Value proposition
Reduces vacancy loss by supercharging leasing teams with real-time AI guidance and post-call coaching that turns leasing conversations into measurable revenue
Products and solutions
Guidance platform (real-time call coaching), Tour Coaching (self-serve AI prep & coaching before/after prospect interactions), Post-call coaching insights, Portfolio-level performance benchmarking
Unique value
Purpose-built for multifamily leasing — augments human agents with real-time AI coaching during live calls and tours rather than replacing them; proven 80% increase in call-to-tour conversion; trained on hundreds of thousands of leasing interactions to identify behavioral signals that drive lease conversions
Target customer
Institutional multifamily apartment owners and operators (property management companies, real estate investment firms)
Industries served
Multifamily Real Estate / Property Management / Proptech
Technology advantage
Advanced ML models trained on millions of leasing interactions; AI researchers from Carnegie Mellon and Stanford; real-time low-latency guidance during live calls; proprietary behavioral scorecards based on top-performer analysis; SOC 2 Type II and ISO 27701 certified
How they differentiate
Unlike competitors that focus on automating leasing (chatbots, self-guided tours, digital screening), Grotto AI augments human agents with real-time coaching during live interactions. The company's data shows human behaviors (laughter, curiosity) drive 48% higher conversion — so Grotto amplifies humans rather than replacing them. Competitors like EliseAI focus on AI chatbots for lead response; Funnel Leasing focuses on centralized CRM/workflow automation.
Main competitors
EliseAI, Funnel Leasing, ResiDesk
Key partnerships
Weidner Apartment Homes (72,000 units, 12th largest apartment owner in US), Hillpointe, Avenue5 Residential, ICONIQ Capital (lead investor), Asymmetric Capital Partners, PMS/CRM integrations: Entrata, Funnel, Yardi, RealPage
Notable customers
Weidner Apartment Homes (72,000 units under management), Hillpointe, Avenue5 Residential
Major milestones
Founded 2025, Raised $10M Seed round led by ICONIQ Capital (Feb 2026), Published Weidner case study showing 80% increase in call-to-tour conversion, Achieved SOC 2 Type II and ISO 27701 certifications, Named Josh Goldstein as Founding Head of Partnerships, Customer expansions: Hillpointe (Tour Coaching) and Avenue5 Residential deployments (2026)
Growth metrics
80% increase in call-to-tour conversion (Weidner case study); 65% increase in personalization of value propositions; 50% increase in sales discovery tactics; 2 weeks to ramp new hire from bottom 10% to top quartile performance
Market positioning
Early-stage vertical AI leader in the multifamily leasing enablement space, positioned as a human-centric alternative to the automation-first approach of competitors
Geographic focus
United States (headquartered in New York, serving national multifamily operators)
About Nick Deveau
Co-led AI technology development at EvolutionIQ (acquired for $730M in 2024); trained in AI at Stanford University; 10+ years building AI SaaS products for Fortune 500 clients across insurance, healthcare, and hiring
Latest news about Grotto AI
Official website: https://grotto.ai/