Lette AI, the agentic AI operating system built for modern property teams, has secured $1.4million in pre-seed funding in a round led by European VC Pitchdrive. With participation from Baseline Venture, Lugus Capital, and with strong validation from prominent angels including Mark Ransford and Conor Sheridan of Nory AI, Lette AI is rapidly expanding to make manual property management obsolete worldwide.
Boosting Net Operating Income (NOI) for property teams and asset managers worldwide, Lette AI was founded in March 2025, in Ireland by Mohan Sai and Jakub Rajek. Following strong early adoption, this raise has already catapulted the company’s valuation to multi-million dollar level, highlighting strong early investor confidence and the market demand for modern solutions in property management.
Behind the high-value façade, real estate still runs on spreadsheets and outdated systems. By deploying agentic AI across operations and reporting, Lette AI reduces administrative workloads by up to 90% and resolves tenant onboarding and requests instantly, saving property teams more than 100 hours a month on manual data entry and repetitive tasks - doubling productivity.
The founders were part of the founding team at Nory, the AI-powered restaurant management platform that recently raised $37 million in a Series B. They are now employing the same playbook - using AI to power customer-facing, high-volume workflows - to help property managers and investors streamline leasing, renewals, maintenance and tenant engagement.
At a time when the $200 billion global property management sector remains largely paper-based and fragmented, within just two months of launch, the fast-growth Dublin-based start-up is already managing more than 5,000 properties - a clear signal of demand for smarter property management tools.
Embedded across thousands of apartments, the platform is already trusted by Ireland’s largest property management companies, including major names such as Grayling Properties, Storyhouse by Ardstone, Hali, Liberties House, Rathmines House, and Lugus Capital. Quickly establishing itself as a powerful AI platform for investors and large-scale property managers, Lette AI will use the pre-seed funding to grow the team and strengthen its Irish foothold and further expand into the UK and UAE. The company aims to have 25,000 properties on its platform by March 2026 and to grow its annual recurring revenue (ARR) to $1.1million by the end of that year.
Mohan Sai, co-founder and CEO, Lette AI said: “The problem with property management today is that most systems are just glorified spreadsheets. They make the job slower, more repetitive, and inefficient. With this funding, we are launching one of the first agentic AI operating systems in the property sector that handles the real tasks that drive margins, protect asset value and keep tenants happy. By bringing ground teams, residents, and investors together in one place, we aim to make operations smoother, service more personal, and portfolios more successful.”
Lead investor Pitchdrive underscored the founders’ proven ability to execute a transformation of this scale. Boris Bogaert, Managing Partner, at lead investor Pitchdrive said: “Lette AI is a game-changer in the $200 billion global property management market. Its pioneering AI agents slash onboarding times by over 50% through seamless automation of rentals, tenant screening, and communications, delivering immediate, measurable value. Our confidence stems from the proven technology’s rapid traction and the exceptional founding team of Mohan Sai and Jakub Rajek, whose experience scaling Nory equips them to redefine the entire property lifecycle. Pitchdrive is proud to fuel this ambitious vision”.
An early adopter who quickly converted to an investor, confirmed the platform’s impact, Peter Horgan, Managing Director, Lugus Capital said “The property market is changing fast. 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. Its AI-first approach removes blockers and manual friction, freeing our teams to focus on delivering the highest quality service. For Lugus, investing in Lette is about backing the future of asset management, where technology is a tool that drives performance, transparency, and tenant satisfaction.”
Debby Johnson, Senior Leasing Manager at professional residential operator, Storyhouse, has been using Lette since May 2025. She said: ““The rental market in Dublin is extremely competitive, with each available property subject to significant demand from prospective tenants. Using Lette, our leasing agents can respond faster and more effectively manage viewings, thereby delivering a better experience for our customers. The result is quicker decisions, better communication, and a smoother rental journey for tenants.”
Lette AI has recently appointed Jon Hammond as Head of Growth, bringing 20+ years of experience scaling both SaaS and property tech businesses, including his work at Zero Deposit, where he helped make renting better for tenants and landlords. The company’s next phase of growth will focus on expanding the product engineering team and advancing its proprietary AI capabilities, including the rollout of autonomous AI agents across leasing, operations, and resident engagement - pushing towards a future where property teams are strategic asset managers, not data entry focused.
