Exclusive: Cambio Lands $18M At $100M Valuation For AI-Powered Commercial Real Estate Software

, a startup that has built AI-powered commercial real estate software for institutional investors, has raised $18 million in a Series A round at a $100 million valuation, it tells 附近上门 News exclusively.

led the financing, which included participation from 听补苍诲 angel investors from , 听补苍诲 , among others. Founded in 2022 by former institutional commercial real estate operators and , Cambio has now raised a total of $22 million. It participated in Y Combinator鈥檚 summer 2022 cohort and then went into 鈥淩&D mode.鈥�

The San Francisco-based company launched its offering at the end of 2023, and de Guzman claims it has since seen 鈥渞apid adoption鈥� across enterprise customers and geographies 鈥� scaling to 35 countries and to more than 2 billion square feet in assets. It recently opened a London office to support EU and APAC growth.聽

From 鈥榤essy鈥� to investment-grade data

Put simply, Cambio uses large language models and agentic artificial intelligence workflows to turn 鈥渕essy building data into investor-grade decisions and reporting.鈥� And it claims to do so within minutes.

鈥淐ommercial real estate owners sit on thousands of pages of unstructured documents 鈥� spreadsheets, PDFs, invoices, energy audits, regulatory filings 鈥� that historically required months of manual analysis,鈥� de Guzman told 附近上门 News. 鈥淐ambio applies large language models and agentic AI to ingest, reason over, and synthesize that data automatically, delivering investment-grade capital and compliance decisions in minutes.鈥�

Cambio, she said, is architected around agentic AI software that can reason across unstructured data, run multi-step analyses, and 鈥渃ontinuously adapt as regulations, assets, and market conditions change.鈥�

In a nutshell, it aims to help institutional investors figure out where to deploy capital, which assets to prioritize, and how to maximize returns. Customers include , , , 听补苍诲 , among others.

The market opportunity, according to de Guzman, is enormous: commercial real estate is estimated to be in the U.S. alone.

In 2025, global real estate-related startups pulled in about $10.5 billion in seed- through growth-stage financing, per 附近上门 . That鈥檚 up about 17% from $9 billion in 2024.

An industry track record

Part of Cambio鈥檚 strategy is to have built a (largely female) leadership team that has directly worked in the space it is trying to serve. De Guzman and Grayson began their careers at large institutional firms such as and Oxford Properties.聽

The startup also recently hired alumna to serve as head of product innovation. , formerly of Oxford Properties and , has been tapped to serve as lead of Cambio鈥檚 European and APAC business.

The moves from institutions to a startup serving them reflect a broader shift happening in commercial real estate, noted Grayson 鈥� the choice 鈥渢o step inside AI transformation, and not just observe it from the sidelines.鈥�

Cambio operates an enterprise SaaS revenue model. It plans to use its new capital primarily to scale product and engineering.

, managing director at Maverick Ventures, told 附近上门 News via email that his firm was impressed with the fact that Cambio鈥檚 founders had spent more than two decades running commercial real estate portfolios.

鈥淭hat lived experience matters,鈥� he said. 鈥淚t gave them an intuitive understanding that this wasn鈥檛 a tooling problem 鈥� it was a workflow problem.鈥�

Maverick was also impressed by the fact that Cambio wasn鈥檛 trying 鈥渢o bolt AI onto existing processes.鈥�

鈥楻e-architecting the workflow鈥�

鈥淐ambio isn鈥檛 automating around the edges, it鈥檚 re-architecting the workflow end to end in an AI-native way, with a deeply product-minded approach,鈥� Isono said. 鈥淜nowing what to build, which workflow to wedge into, and how to sequence products requires having lived these workflows, which Leia and Steph have.鈥�

The investor also praised the startup鈥檚 technical team, noting that CTO was one of the earliest backend engineers at , a marketplace and wholesale platform that was valued at nearly $13 billion in 2022. That technical team, he said, also includes Ph.D.s with 鈥渄eep expertise鈥� in building science.聽

鈥淭hat matters because commercial real estate is fundamentally tied to the physical world. Much of the data isn鈥檛 clean or fully digitized, and automating it is meaningfully harder than in purely digital domains,鈥� Isono said. 鈥淪olving that unlocks a uniquely valuable dataset that compounds over time.鈥�

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