PropTech startup Algoma has raised $2.3 million in seed funding, the company announced today. The round was led by Zacua Ventures, with participation from SOSV, Iron Prairie Ventures, DOMiNO Ventures, Compose VC, and a network of angel investors across the AI, construction, and real estate industries.
Founded by three Harvard graduates, Algoma’s mission is to simplify early-stage real estate decisions by offering a faster, smarter way to assess site feasibility.
Real estate, valued globally at over $600 trillion, remains one of the most outdated industries in terms of technology adoption—especially during pre-construction. Developers often face costly delays while navigating zoning laws, fragmented data, and consultant-heavy workflows.
“Our team understands the complexity of site analysis firsthand,” said Josef Bromovsky, Co-Founder and CEO of Algoma. “Developers rely on scattered tools, consultants, and spreadsheets. By the time they decide, the opportunity may already be gone. That’s why we built Algoma: to bring the speed, clarity, and intelligence that today’s developers deserve.”
With the new capital, Algoma plans to expand its engineering team, deepen its product capabilities, and continue improving its web platform. The team is focused on giving users a streamlined workflow that allows for fast, accurate decisions—without the traditional overhead.
“We’re giving real estate developers superpowers,” said Seyfihan Usarer, Co-Founder and COO. “By democratizing feasibility studies, we enable teams to evaluate more deals quickly and reduce risk. That means more housing can move from idea to reality faster.”
Unlike many tools built for large institutions, Algoma is targeting a different audience: small and mid-sized developers. These are the people behind mixed-use projects, infill development, and affordable housing—key to expanding urban housing supply across the U.S.
Algoma’s platform combines zoning analysis, market intelligence, site-specific design massing, unit mix planning, financial modeling, and visualizations for investors. It replaces clunky back-of-the-envelope calculations with data-driven workflows in just minutes.
Kyle MertensMeyer, Co-Founder and CPO, added: “We focused the product on real pain points. By building with users, we’ve reduced risk and earned trust. That’s how we’re creating long-term loyalty.”
In addition to its investor network, Algoma has earned two competitive public grants: one from the NYC Mass Timber Studio, backed by the New York City Economic Development Corporation, and another from the Georgia Mass Timber Accelerator, led by the Georgia Forestry Foundation.
“Algoma is solving a foundational problem in the built environment,” said Vivin Hegde, General Partner at Zacua Ventures. “They bring speed, structure, and confidence to developers and contractors. We believe this platform will become essential to how the industry evaluates new projects.”
