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Israeli Startup Localize Raises $25 Million Under Cloud of Ownership Battle

Localize develops AI-powered real estate technologies.

Localize team L-R Ilan Fraiman, CTO, Asaf Rubin, CEO, Omer Granot, COO/ Courtesy

Localize is an Israeli startup that develops AI-powered real estate technologies. Localized has completed a $25 million Series C round of funding, bringing its total funding to date to $70 million. The round was led by Pitango Growth, with participation from Mizrahi-Tefahot and existing investors. Chemi Peres, Managing Partner and Co-founder of Pitango, is joining Localize’s Board of Directors.

But all is not rosy these days for Localize. The company’s co-founder Amir Winstok is currently suing fellow co-founder and the current Localize CEO Asaf Rubin, claiming that he was unfairly forced out of the company. Asaf Rubin, for his part, has moved to get the lawsuit dismissed alleging that it is nothing more than a shakedown attempt.

But in spite of the lawsuit, it seems to be business as usual for Localize.

Localize was founded in 2012 by CEO and Asaf Rubin, an alumnus of the Technion Excellence program, COO and President Omer Granot, an alumnus of the MIT Sloan School of Management MBA track, and CTO Ilan Fraiman. Localize is revolutionizing the real estate industry by harnessing the power of AI and cutting-edge technology., Localize has developed a data and AI-driven platform, combined with human expertise, to assist buyers and brokers in remedying their existing pain points related to the real estate market. Localize works by collating information from billions of data points into hundreds of selectable attributes, including proximity to popular stores – for example,
The company has led algorithm and software development at Taboola (the world’s largest content discovery engine) and Trusteer (acquired by IBM for $700 million), and strategy at Via (transformative transit tech).

“Across oceans and time zones, Localize is revolutionizing the house-hunting process through trust and transparency to benefit buyers and agents alike.”

“The home buying process is complex and the real estate industry as a whole has been slow to embrace technological change to address these issues. Most of the data available in the market today is too fragmented for buyers to effectively use,” said Omer Granot, President and COO of Localize, in a statement. “We have developed products that are shifting the paradigm to empower prospective buyers and brokers to really fill in those information gaps and receive the assistance they need throughout the entire process, making us a partner from their initial search to receiving keys in hand for their new home.”

“Buying a home is one of the most important financial and life decisions many people make,” said Chemi Peres, founding partner of Pitango, who is joining the Localize board. “Localize enables people to find and buy the house of their dreams in a short time, using the advanced AI tools it developed. The ability to use tools that automate and digitalize this process, combined with insights that are produced using algorithms which run on massive amounts of data, makes the results quick, accurate, and fully fitted to the client’s needs.”

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