The cutting-edge real estate technology company Compass has acquired a New York City-based artificial intelligence (AI) and machine learning (ML) company, the company announced.
The exact terms of Compass’ purchase of Detectica were not disclosed. Detectica’s team, including its founders Foster Provost and Panos Ipeirotis, has joined Compass.
“Compass is building an operating system for the real estate industry and this vast undertaking requires the very best talent in the world,” Compass Chief Technology Officer Joseph Sirosh said in a release. “For over a decade, Detectica’ s founders have been among the most widely respected minds in AI and ML. With this acquisition we deepen our platform while at the same time strengthening our ever-growing team of technologists.”
Compass said it has placed an increasing focus on AI-powered features, including “Recommended For You” and “Similar Homes,” enabling the platform to deliver relevant listings to homebuyers both on Compass.com and the Compass mobile app. Compass said the Detectica acquisition will allow it to accelerate its efforts in these areas.
Provost and Ipeirotis are both tenured professors at New York University.
“We’re energized by the opportunity to join the Compass team and assist in transforming the way the real estate industry does business by increasing agent productivity,” Provost and Ipeirotis in a joint statement. “Compass’ proprietary software, scale and talented technical team puts the company in a unique position in the space and we look forward to contributing to the future of the industry.”
Compass recently announced its plans for a new technology hub in India to accelerate software development and deepen tech expertise across its suite of real estate technology tools. Compass serves more than 14,000 agents across 100 cities in the United States.