By combining capital planning and compliance in one AI-native platform, Cambio helps landlords identify and prioritize high-impact retrofits.
SAN FRANCISCO–(BUSINESS WIRE)–Cambio, the AI-native commercial real estate operations platform, today announced its public launch and $18 million in Series A funding. The round was led by Maverick Ventures, with participation from Y Combinator, Adverb Ventures, Peterson Ventures and angel investors including executives from Procore, OpenAI, Anthropic, Vanta, Vercel, ServiceNow, Notion, and Amplitude.
Commercial real estate is a $20T industry that spends billions of dollars annually on manual data gathering and investment analysis. Multi-million dollar decisions are still guided by spreadsheets, PDFs, and months of manual review, a process that hasn’t fundamentally changed in decades. Unlike legacy real estate software that relies on static rules and manual inputs, Cambio is built from the ground up around agentic AI–software that can reason across unstructured data, run multi-step analyses, and continuously adapt as regulations, assets and market conditions change. Cambio uses large language models and agentic AI workflows to reason over thousands of pages of building data, compressing months of work into minutes. With Cambio, investors can evaluate and prioritize retrofit investment opportunities across thousands of buildings at once.
In its stealth stage, Cambio launched in more than 35 countries, opened a London office to support EU, UK, and APAC growth, and landed some of the most influential names in commercial real estate as customers, including Principal Real Estate, Nuveen Real Estate, BGO, LaSalle Investment Management, Oxford Properties Group, Madison International Realty and Beacon Capital Partners. Cambio’s founding team brings decades of experience from KKR, Oxford Properties Group, JPMorgan, and Goldman Sachs, where they encountered firsthand the inefficiencies of managing real estate portfolios with outdated, manual processes. As investors and operators, they each spent thousands of hours gathering property data from multiple management systems, reconciling invoices, and updating spreadsheets to track and forecast asset performance. Seeing an opportunity for AI to replace this slow, fragmented cycle of spreadsheets and human error, the founders built Cambio while completing their master’s at Stanford University.
To support rapid growth, Cambio has added four senior leaders. Lizzie Leon (formerly Goldman Sachs) joins Cambio as Head of Product Innovation after working closely with Cambio as a client. She is joined by: Katerina Kaimakamis (formerly Oxford Properties Group and CBRE) as European Business Lead, Laura Willet (formerly BGO) as Canadian Business Lead, and Matthew Lobach (formerly Hersha Hospitality Trust, NYSE: HT) as Head of Partner Operations & Strategy. Their combined expertise in managing over $400 billion of commercial real estate globally reinforces Cambio’s ability to scale worldwide.
“For years, owners have been buried in thousands of pages of unstructured building data, with no practical way to drive insights,” said Leia de Guzman, Co-Founder. “Large language models finally make that data usable at scale. Cambio applies agentic AI to transform compliance and capital planning from a static reporting obligation into a continuously learning decision engine.” “Our investor-centric lens is what sets us apart,” added Stephanie Grayson, Co-Founder. “We built Cambio to answer investor-grade questions: where to deploy capital, which assets to prioritize, and how to maximize returns while meeting regulatory requirements—without adding operational burden.”
Cambio transforms real estate workflows. It uses agentic AI to ingest building data, evaluate performance, flag retrofit opportunities, and generate capital strategies – delivering ROI recommendations in minutes and reframing regulatory compliance as a catalyst for performance.
“Through our partnership with Cambio, we use AI and Large Language Models (LLMs) not just to extract data from utility bills and building assessments, but also to drive investment-grade decarbonization at scale,” said Jennifer McConkey, Managing Director at Principal Real Estate, who manages over $100 billion of real estate globally. “Cambio’s models assess building performance, identify retrofit potential, and generate capex strategies–helping us prioritize high-impact actions that accelerate decarbonization and deliver returns.”
“Just as AI has radically rearchitected healthcare and legal workflows, Cambio is redefining how the multi-trillion-dollar real estate sector operates,” said Ryan Isono, Managing Director at Maverick Ventures. “Leia and Stephanie have unrivaled founder-market fit, having faced these pain points firsthand. It’s evident in Cambio’s rapid growth, stellar customer base, and the talented team they’ve already brought together at an early stage.”
For more information about Cambio and its AI-native commercial real estate operations platform, visit cambio.ai.
About Cambio
Cambio is the AI-native commercial real estate operations platform. By transforming raw building data into actionable insights, Cambio helps owners, investors, and operators drive building performance, ROI and decarbonization. Learn more at www.cambio.ai.
About Maverick Ventures
Maverick Ventures is a San Francisco based venture capital firm, partnering with founders from inception through IPO. Building on over two decades of venture investing through Maverick Capital, the firm launched its dedicated early-stage fund in 2015. The integrated approach combines the focus of an early-stage partner with the resources of a $10B+ multi-stage platform and a 30+ year history.
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