Entrata acquires Colleen AI to usher in a new era of autonomous property management.

WhatsApp Group Join Now
Telegram Group Join Now
Instagram Group Join Now

The acquisition enables operators to automate end-to-end workflows through a new AI product suite, ELI+.

Lehi, Utah, June 20, 2024 /PRNewswire/ — Intrata® , a leading AI-powered multifamily operating system (OS), today announced its acquisition Colleen AI, Advance the ability to instantly automate property operations. By incorporating Collin AI into Entrata OS, operators can take the next step toward autonomous property management, ushering in a new era for the industry.

Entrata's future vision is autonomous property management. At its core, automating workflows faster and portfolios more efficient while providing an elevated residential experience. With unprecedented adoption of intradata layered intelligence (LI), the acquisition of Collin AI further enhances the AI ​​capabilities throughout Entrata OS.

Transform efficiency through end-to-end AI workflow automation

Through the acquisition of Colin AI, Entrata is introducing ELI+., an advanced suite of AI products that power end-to-end workflows. ELI+ is for operators who want to harness the power of AI to transform their business for greater efficiency through automation. It is designed to be modular and allows for rapid scaling using advanced AI and machine learning technology, giving operators the most advanced functionality. Operators will have immediate access to AI-powered collection and renewal modules in the coming months, with additional modules, including leasing, to follow.

“The acquisition of Colen AI significantly accelerates our vision of autonomous property management while immediately providing our customers with comprehensive AI capabilities, market-ready functionality, and a team of multi-family AI experts.” Adam Edmonds, CEO of Entrata. “Through this combination, operators can power end-to-end automated workflows and interactions. This, in turn, will allow teams to focus on meaningful resident connections and high-impact tasks to improve the resident experience and Ultimately, there is a positive impact on NOI.”

Increasing data quality for more relevant AI

Entrata's new AI products sit within the OS to provide ultimate automation, workflow management, and orchestration. There are thousands of data variables within Entrata OS, and ELI+ leverages them all to automate and contextualize every interaction – a clear advantage over other, non-native AI solutions. These data sources in Entrata are comprehensive and native to the OS to allow for high quality input.

This technology enables consolidation to change the context of the conversation., which contextualizes every interaction through data and workflows for every resident, enabled by a single data source. For example, if a conversation begins for a facility reservation, the AI ​​can easily fulfill the original request and then seamlessly transition the conversation to other priority tasks, such as early renewals. Start the process.

Also, by adopting an OS with a native AI layer, such as ELI+, site teams don't need to switch between or get bogged down by different tech. Working in a system that teams are familiar with allows for rapid re-prioritization of activities through redeployment of manpower.

“A key challenge for effective AI is high-quality and current data,” said Itamar Roth, CEO and Co-Founder of Colleen AI. “By introducing Colleen AI as a native technology in Entrata OS, the efficiency will be unprecedented in the multifamily industry, dramatically accelerating the potential for autonomy in many areas that do not exist today.”

As part of the transaction, shareholders of Coleen AI, including Wilshire Lane Capital, will become shareholders of Entrata, Inc.

More information can be found at ELI+. Here.

Wilson Sonsini Goodrich et al Rosati Worked as legal advisor to Intrata. JP. Morgan Securities LLC acted as financial advisor. Intrata. Goldfarb Overall Seligman Colleen served as AI's legal advisor.

About Entrata
Entrata is a leading operating system for multifamily communities worldwide. Setting the bar for innovation in property management software since 2003, Entrata offers solutions for every step of the leasing lifecycle and empowers owners, property managers, and tenants to build stronger communities. Entrata currently serves more than three million residents in more than 20,000 multifamily communities worldwide. Learn more about www.entrata.com.

source Entrata

WhatsApp Group Join Now
Telegram Group Join Now
Instagram Group Join Now

Leave a Comment