Key Takeaways
- • MARC, a Manhattan-based AI platform for institutional real estate owners, raised $5 million in an oversubscribed Seed round led by Work-Bench, with MXV Capital participating, according to Commercial Observer.
- • The raise brings MARC's total funding to $6 million, with participation from founders and operators including Des Traynor (Intercom), Mark Ghermezian (Braze), Ian Nolan (Brightflag), Cyrus Claffey (ButterflyMX) and Daniel Eberhard (Koho).
- • MARC says it manages more than $100 million in annual vendor spend across 30 states, with customers representing a combined $90 billion in assets under management.
- • The company uses agentic AI to reconcile invoices against contracts, flag overcharges, track renewals and benchmark vendor costs, addressing a gap the company says leaves nearly 100 percent of invoices unverified against underlying contracts.
- • Founded in January 2026 by 24-year-old CEO Aaron Devitt, the company will use the proceeds to expand across the U.S. and Canada and grow its New York team.
Summary
MARC, an AI platform that helps institutional real estate owners identify and streamline operating costs across their portfolios, announced that it raised $5 million in an oversubscribed Seed round, according to Commercial Observer. Work-Bench led the round, with MXV Capital participating. The raise brings the company's total funding to $6 million.
The round drew participation from founders and operators including Des Traynor (Intercom), Mark Ghermezian (Braze), Ian Nolan (Brightflag), Cyrus Claffey (ButterflyMX), Daniel Eberhard (Koho), and Brian Moran, the manager of professional golfer Shane Lowry. The Manhattan-based startup was founded in January 2026. Aaron Devitt, its 24-year-old founder and CEO, previously built the company's first property management product in Ireland and the U.K., which recorded more than 40,000 monthly logins before MARC expanded into North America.
Devitt said the company was profitable at the start of the year and was approached by several funds on the West Coast and East Coast. The company had planned to raise $2 million to $3 million but raised $5 million quickly. The proceeds will fund expansion across the U.S. and Canada and growth of the New York team, where MARC is hiring a head of engineering and strategic account executives.
MARC argues that while institutional real estate owners manage billions of dollars in assets, nearly 100 percent of invoices are unverified against their underlying contracts, and manual reconciliation of tens of thousands of invoices and lengthy agreements is nearly impossible. The platform, whose name stands for "management, automated, request, cloud," uses agentic AI to connect contracts, invoices and vendor data to identify overcharges, enforce contract terms, track renewals, benchmark costs and surface vendor consolidation opportunities. The company said it manages more than $100 million in annual vendor spend across 30 states, including for Magnolia Capital and Birge & Held Home, with customers representing a combined $90 billion in assets under management.
Devitt positioned the company as a data play, noting that while CoStar is well established for income and operating expense data, few tools consolidate spend data across sources. MARC's initial entry point is vendor management, with benchmarking across markets planned as customers accumulate data over time.
The round drew participation from founders and operators including Des Traynor (Intercom), Mark Ghermezian (Braze), Ian Nolan (Brightflag), Cyrus Claffey (ButterflyMX), Daniel Eberhard (Koho), and Brian Moran, the manager of professional golfer Shane Lowry. The Manhattan-based startup was founded in January 2026. Aaron Devitt, its 24-year-old founder and CEO, previously built the company's first property management product in Ireland and the U.K., which recorded more than 40,000 monthly logins before MARC expanded into North America.
Devitt said the company was profitable at the start of the year and was approached by several funds on the West Coast and East Coast. The company had planned to raise $2 million to $3 million but raised $5 million quickly. The proceeds will fund expansion across the U.S. and Canada and growth of the New York team, where MARC is hiring a head of engineering and strategic account executives.
MARC argues that while institutional real estate owners manage billions of dollars in assets, nearly 100 percent of invoices are unverified against their underlying contracts, and manual reconciliation of tens of thousands of invoices and lengthy agreements is nearly impossible. The platform, whose name stands for "management, automated, request, cloud," uses agentic AI to connect contracts, invoices and vendor data to identify overcharges, enforce contract terms, track renewals, benchmark costs and surface vendor consolidation opportunities. The company said it manages more than $100 million in annual vendor spend across 30 states, including for Magnolia Capital and Birge & Held Home, with customers representing a combined $90 billion in assets under management.
Devitt positioned the company as a data play, noting that while CoStar is well established for income and operating expense data, few tools consolidate spend data across sources. MARC's initial entry point is vendor management, with benchmarking across markets planned as customers accumulate data over time.
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