Sydney, November 25 2022: We’re thrilled to be ranked #29 in The Australian Financial Review’s Fast 100 and recognised as one of the fastest growing companies of 2022!
Here’s an excerpt from an article in The Australian Financial Review on 25 November 2022 about how Archistar has built their growth:
Archistar, formed in 2018 by brothers Benjamin and Robert Coorey, melds architecture and computer programming with an ambition to become a one-stop digital shop for real estate agents, property developers, architects and home builders.
It has proven to be a winning formula. Revenue has surged from $2.3 million in 2020 to over $7.2 million in 2022.
Earlier this year, despite a slowing market for both tech and real estate, the group raised $11 million, in part to finance expansion into the US, in a funding round backed by NAB Ventures, Skip Capital and Airtree.
Chief executive Dr Benjamin Coorey, who has a PhD in architecture and an interest in artificial intelligence, first created the Archistar Academy to teach digital design. Then he saw the opportunity to help property professionals “find, assess and design profitable property development sites”.
For any site, initially in Australia, Archistar can quickly assess the planning rules and restrictions, create design concepts and run feasibilities, saving hours of work. “The entire planning and development process is on a single digital platform,” says Dr Coorey.
A second capability is the capacity to upload development proposals for a “real-time check” against the planning regulations.
Most recently the group has used its skills, and those of its new acquisition, Snaploader, to create 3D models, flythrough videos and 360 degree tours to help with residential and commercial marketing.
Clients include some of the biggest names in property, such as Brookfield, Frasers Property, Mirvac and JLL.
Today the group has 60 staff in Australia and another 40 in the Philippines. “The challenge is to keep the growth rate going and keep the start-up culture,” says Dr Coorey. “We have a huge focus on maintaining staff and making sure the employees have a good experience.”
Archistar also has a very well-connected board, headed by Prabhat Sethi, the chair of Global Blue, and including Tom Southern, a former CEO of CBRE Pacific; Graham Mirabito, a former CEO of CoreLogic Australia; and Craig Blair, the co-founder and managing partner of Airtree Ventures.
Looking to the future, demand has so far defied the slowing property market. “In a declining market, you need to assess more sites,” says Dr Coorey.
Read the full story in The Australian Financial Review.
A massive thank you to our wonderful clients and investors for their support and helping us become one of the fastest growing companies of 2022. A big shout out to the Archistar team for their incredible hard work and dedication in getting us there.
We have lots of exciting growth plans in store that will further drive innovation in the property industry. Stay tuned for our upcoming announcements!
