Spir Group Acquires AI Venture from Prosper AI
- Could Save 300,000 Work Hours Annually
After a year of development and fine-tuning, Prosper AI’s artificial intelligence (AI) initiative is now in commercial operation — with documented results and a growing customer base.
“We are investing heavily in AI that delivers real value, and in this case, we’re talking about enormous savings,” says Per Haakon Lomsdalen, CEO of Spir Group ASA.
Prosper AI is a Norwegian technology company developing software solutions based on artificial intelligence. The company has made its biggest impact so far in the real estate sector - and it is this division that real estate technology company Spir Group is now acquiring.
“Writing property listings is a time-consuming and manual task for real estate agents. We’ve made this process much more efficient using AI,” says Robin Skog, co-founder of Prosper AI.
Real estate agents can now save 3–4 hours per listing using Prosper’s software.
“If you multiply that by over 100,000 real estate transactions annually in Norway, the time savings are enormous. In addition, human errors are reduced, improving the overall quality of the listings,” says Lomsdalen.
Focused on Real Estate
Spir Group acquired 15 percent of Prosper AI’s shares last year. Since then, the product has been further developed, tested, and adopted by several real estate agencies. The results show significant time savings per property transaction.
“At Spir, we have a leading professional environment for AI and real estate, and our solutions are used by almost all parties involved in property transactions. As part of Spir, Prosper’s solution gains broader distribution and greater impact. We have high expectations for this initiative going forward,” Lomsdalen adds.
The real estate division of Prosper AI is being separated into Prosper AI Eiendom AS, and Spir is purchasing the remaining shares in the company through its subsidiary Ambita AS.
This values Prosper AI Eiendom AS at NOK 50 million. The sellers may receive an additional earn-out payment of up to NOK 60 million, based on a revenue target of NOK 30 million in Norway by 2026, and up to NOK 81 millionbased on a revenue target of NOK 81 million in Sweden by 2027.
Full Speed Ahead on Development
Prosper AI will continue to be responsible for developing the product together with Spir and for acquiring new customers in the real estate markets of both Norway and Sweden.
For Prosper AI, the agreement also means increased resources to invest in new business opportunities.
“We will continue to follow our success formula — using AI to solve concrete problems. We’ve always thought big, and therefore also seen big opportunities. Among other things, we see tangible prospects within both real estate and insurance in the Nordic region. To succeed with this, we will also need to attract more talented people going forward,” says Skog.