Lette AI Secures $1.4M Pre-Seed Funding to Transform Property Management with AI Agents

Proptech Startup Emerges with Major Backing

Lette AI, a Dublin-based property management technology startup founded by former Nory executives, has reportedly raised $1.4 million in a pre-seed funding round, according to company announcements. The investment was led by Pitchdrive with participation from Baseline Venture and Lugus Capital, alongside angel investors including Nory AI co-founder Conor Sheridan and Mark Ransford.

From Restaurant Tech to Property Management

The startup’s founding team, Mohan Sai and Jakub Rajek, previously built Nory AI, an AI-powered restaurant management platform that reportedly saved restaurateurs 100 hours of admin monthly. Sources indicate they’re applying the same automation approach to the property management sector, targeting what analysts describe as a $200 billion global market.

Revolutionizing Property Operations

Lette AI’s platform uses artificial intelligence to automate high-volume workflows for property managers and investors. The company states its system handles leasing, renewals, maintenance, and tenant engagement through what it describes as “agentic AI operating systems.” According to the company’s reports, the platform can reduce administrative tasks by up to 90%, double productivity, and significantly boost net operating income for property owners.

“The problem with property management today is that most systems are just glorified spreadsheets. They make the job slower, more repetitive and inefficient,” said Sai, Lette AI’s co-founder and CEO, in the company‘s announcement.

Rapid Market Adoption

Despite launching only in March 2025, the startup claims it already manages more than 5,000 properties across the UK and Ireland and counts three of Ireland’s four largest landlords among its clients. Major property managers reportedly using the platform include Grayling Properties, Storyhouse by Ardstone, Hali, Liberties House, Rathmines House and Lugus Capital., according to recent studies

The recent funding has reportedly catapulted Lette AI’s valuation to what company sources describe as a “multimillion-dollar” level, though specific figures weren’t disclosed.

Expansion and Growth Strategy

Company officials indicate the new capital will fuel team expansion, strengthen their Irish market position, and support expansion into the UK and United Arab Emirates markets. The startup has reportedly set ambitious targets to manage 25,000 properties and achieve $1.1 million in annual recurring revenue by March 2026.

Lette AI recently appointed industry veteran Jon Hammon as head of growth, and sources suggest the company will focus on expanding its product engineering team and advancing its proprietary AI capabilities. The next phase reportedly involves rolling out autonomous AI agents across leasing, operations and resident engagement functions.

Investor Confidence

Boris Bogaert, managing partner at lead investor Pitchdrive, described Lette AI as “a game-changer in the $200bn global property management market” in the funding announcement. He noted that the platform’s “pioneering AI agents slash onboarding times by over 50% through seamless automation of rentals, tenant screening, and communications.”

Peter Horgan, managing director at Lugus Capital – which evolved from an early adopter to an investor – commented that “investors and residents expect a smarter, more responsive experience. As both a customer and an investor, we see Lette as a next-generation platform that’s answering that need.”

Industry Transformation

With its agentic AI approach, Lette AI aims to transform how property management companies operate. The company’s vision, according to its founders, involves bringing ground teams, residents, and investors together in one platform to create smoother operations, more personalized service, and more successful property portfolios.

The startup’s rapid growth and substantial early backing suggest significant investor confidence in AI-driven solutions for the traditionally paper-intensive property management industry, though market observers suggest the true test will come as the company executes its ambitious expansion plans.

References & Further Reading

This article draws from multiple authoritative sources. For more information, please consult:

• http://en.wikipedia.org/wiki/Artificial_intelligence
• http://en.wikipedia.org/wiki/Ireland
• http://en.wikipedia.org/wiki/United_Kingdom
• http://en.wikipedia.org/wiki/Lugus
• http://en.wikipedia.org/wiki/Property_manager

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