Proptech Labs

Based in Australia, Proptech Labs offers innovative property management solutions through advanced AI-driven products, enhancing operational efficiency for property managers and real estate agencies. Proptech Labs specializes in property management technology, providing AI-enhanced tools to optimize workflows. The company is based in Melbourne, Australia. On October 6, 2025, it was acquired by MRI Software LLC, a portfolio company of Harvest Partners, TA Associates, and GI Partners, although financial terms were undisclosed.

The acquisition aims to accelerate Proptech Labs's growth. The company specializes in innovative property management solutions anchored by its core offerings, which include Bricks and Agent, Inspection Manager, Invoice Automate, Key Automate, and reHeroes. These AI-powered products are designed to streamline property management processes for property managers, enhancing efficiency and productivity. Bricks and Agent serves as a comprehensive platform that simplifies property management and maintenance workflows, while Inspection Manager offers precision in conducting property inspections.

Invoice Automate focuses on financial process automation, improving efficiency in billing and payments, whereas Key Automate enhances key management security and efficiency. Finally, reHeroes features Alex for Tenants, an advanced AI chatbot that improves tenant interactions and support. The company primarily targets property management firms and real estate agencies across various geographical markets, including North America, Europe, and Asia-Pacific, addressing the needs of property owners and managers seeking to optimize their operations. The company's revenue model is based on subscription services and partnerships with property management agencies.

Clients typically engage with the firm through tailored subscription plans that offer access to its suite of products, facilitating seamless transactions for services rendered. For example, property managers may subscribe to a package that includes Bricks and Agent and Inspection Manager, allowing them to leverage multiple functionalities for a fixed monthly fee. Additionally, revenue is generated through direct sales of individual products, such as Invoice Automate and Key Automate, which are offered at specific pricing tiers to accommodate various client needs. This structured approach to pricing enables the company to cater to a diverse client base while maintaining a steady revenue stream from its core product offerings.

In October 2025, Proptech Labs will leverage the acquisition by MRI Software LLC to support its growth initiatives. The acquisition will enable the company to accelerate the development of new products and expand into new markets. Specific plans for future product launches are currently under development, with a focus on enhancing their existing offerings. The company also targets expansion into additional regions, including North America and Europe, to broaden its client base and market reach.