Smarter Building Data
Cohabit is the first AI-powered data platform that digitises building records and helps connect consumers to comprehensive, independent building information.
The process of managing building data is broken
At present, building records and data are kept, albeit poorly, by the strata company managing the building - typically in a server-based document management system. These records are often incomplete, missing entirely, intentionally deleted, inaccurate, labelled in different ways (or not labeled at all) or a combination of the above.
They are also never analysed, benchmarked or tracked.
When purchasers, owners or inspectors need to gain access to this data, the process is slow, cumbersome and inaccurate not to mention completely different for every strata plan.
Think of Cohabit as a Credit Reporting Agency for residential buildings. We utilise the records and information from our Strata Reporting service to drive a suite of unique data products.
Our founding team
Cohabit is led by an all-star team with a proven track record of launching, scaling and exiting companies. From an investment perspective, we are backed by some industry leading names across legal, corporate and financial disciplines.
With a background in real estate and projects, Thom is a subject matter expert in all things property. He started his first technology business at 26 and pioneered how Australian rental funds are processed with his payment platform Managed App.
The company grew to a $10m valuation in 3 years, attracting growth funding from REA Group (ASX:REA) which lead to an exit to prominent media business Momentum Markets before he created Cohabit.
Thom is extremely hands on with the product. Having designed how Cohabit works from the ground up, he is intimately connected to the problems the company is solving in the industry and has the product and strategy know-how to deliver exceptional results.
Michael is a seasoned Ruby on Rails developer and founder of Sentia, a leading development agency which he successfully lead for over 18 years. With extensive experience across high profile projects, Michael has been pivotal in the success of platformslike Airtasker.com, Shippit.com, and OneBigSwitch.com.au.
Michael is leading Cohabit’s team of experienced software engineers with teams in Sydney and Ukraine.
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Data Army is a leading Australian consultancy specialising in data-driven transformations. They specialise in helping businesses harness the power of data to fuel growth and innovation.
Cohabit has engaged Data Army as our data partner and they are deeply embedded in the product strategy and development to ensure we maximise the use of our data and drive the sale of our products.
We’ve created an industry-first platform
Cohabit’s Digital Building feature collects information using our unique AI-powered data aggregation tool which then analyses the data to create a comprehensive profile, interactive history and a ‘Cohabit Health Score’.
This score is similar to consumer credit reporting and is generated by benchmarking the building's financial position, special levies, defects, compliance metrics and active disputes to name a few.
The data is then used by by strata inspectors to generate and publish a report that is sold to prospective buyers completing due diligence prior to a purchase. The building profile is then made available to strata companies and owners as a management tool.
The Cohabit Health Score is our version of a personal credit score. Data across several categories is summarised and benchmarked against industry standards to provide an understanding of a building’s strengths, weaknesses and areas of improvement.
It can be used by consumers as a preliminary due diligence tool, corporates as a lead gen tool and buildings themselves as a tool to triage issues and address key issues within their strata plan.
Cohabit Expert is a SaaS product that is made available to Strata Inspectors and allows them to access building data in a simplified digital format and seamlessly add their insights to the digital building profile.
The product creates efficiencies by automating report generation, eliminating manual work and reducing errors, which in turn empowers them to deliver more accurate, professional strata reports in a fraction of the time.
Cohabit Expert is an efficient way monetising our data and driving growth simultaneously.
Our suite of Data Products
The mass data we collect from our partnerships and Expert Portal Reports allow us to create a set of products that have a range of applications for both consumers and corporates.
What is it: An API to embed the Cohabit Health Score into existing products, websites or reports. It includes the score, factors that affect the health of the building and the ability to enable Cohabit Expert revenue sharing.
Who is it for: Real estate groups, strata managers and listing portals
What is it: API to embed the Cohabit Risk Rating into any product, CRM or bespoke platform that can be used by teams to gain a deeper understanding of buildings and identify high risk strata plans.
Who is it for: Banks, other lenders, Insurance companies
What is it: API to embed key elements from the Cohabit building profile into an existing building profile, database or product.
Who is it for: Real estate groups, proptech providers and listing portals
What is it: A Lead generation tool that uses our API to share leads with connected services
Who is it for: Home Loan providers, insurance companies, strata services and maintenance companies
Who accesses our products?
Our suite of products is designed to provide visibility for consumers and insights for the companies that work closely with buildings whether that be in a management or transactional capacity.
Cohabit targets buyers who are wanting an independent source of data to complete due diligence prior to purchasing an apartment.
We want to attract owners within a building who want a low touch connection to their building’s health, compliance and history.
We want Strata Managers to leverage Cohabit data to enable them to drive better outcomes for the buildings they manage.
Listing Portals and agents are a key customer as they offer Cohabit a distribution channel to buyers at the point of finding property listings and conducting research.
Banks and insurance companies can utilise Cohabit data to mitigate risks and deliver more bespoke services.
A key customer for Cohabit, inspectors can utilise our Expert Portal to automate reporting processes and drive report sales.
Driving acquisition of data with consumer products
Our growth to date has been driven by owner and buyer curiosity. Being able to access our Freemium products such as the Cohabit Health Score before committing to a paid report allows a buyer to carefully consider their shortlist and get a better understanding of a building before commencing paid due diligence.
Owners have a similar desire to understand their building without committing to meetings, strata searches or liaising with a strata manager.
Number of Building Profiles on Cohabit (as at Jan 2025)
Number of lot profiles on Cohabit (as at Jan 2025)
Current Data Points collected, per building
How we collect data
If you own in a strata scheme, or are looking to purchase into one, you’re legally entitled to view comprehensive records for the building.
Depending on the user (Buyer or Owner), we have designed a simple process to allow them to request the data for a building they wish to view and find an Expert to guide them through the process.
All buildings in the country exist on Cohabit in a basic form so they simply search by the address and click ‘Send Request’.
This is a low friction strategy to gain access to mass building data with no roadblocks or barriers to entry.
Current Marketing Channels
We are creating a partner program that will promote the sharing of data with complimentary companies.
By forming partnerships and opening up our data API, we can share and collect information with partner organisations to bolster our data products, increase our exposure to prospective customers and have a much larger data set to benchmark and analyse.
Strata Inspectors are struggling to turn a profit due to the tedious administration required in delivering their reports.
Given them our technology via our Expert Portal not only solves that problem but allows us to exponentially grow the data and users on the platform as they will continue to do the same volume (if not more) of reports - the difference being all data is captured on Cohabit.
Property research is now done online - from listing portals and media to social media and blogs.
We have developed a digital and direct marketing strategy that will grow our online presence, drive engagement of the app and allow consumers to access Freemium products.
Our potential market, in Australia and beyond
Apartment living is growing at a rate nearly 5x that of any other dwelling and Cohabit is uniquely positioned to capture data across all buildings, and the connected verticals.
Our key target markets have nearly 30 millions lots, across close to 500k apartment buildings.
Nearly $6B in strata levies and related payments are processed annually in Australia alone
Is spent on residential building services, trades, maintenance every year in Australia alone.
Its a race for data, but we’re unique (and first)
The big data space is growing exponentially and although we don’t have any direct competitors in our space, the larger data players pose a threat to our business model in that they have the resources to create new products and purchase exiting data businesses.
Equifax for example is a $30B credit reporting business that models data and creates both commercial and consumer products - they have the ability to roll our tools and data products if they were able to access the building data ie via acquisition of a strata reporting platform, real estate data platform or similar. We also see larger listing portals as a threat given their access to buyers and listing data, AI models such as ChatGPT that may be able to extract building data from public sources, and existing Property data firms like Corelogic and MRI, who have very close ties with strata managers and capture a lot of their data on their systems.
Saying the above, our data set is very unique and given the difficulty in extracting the data from local strata managers, a SaaS product like our Expert Portal would need to be successfully built and deployed for the larger players to start collecting the same data points as Cohabit.
Given the businesses above tend to purchase companies rather than build the products themselves, I also see them as an opportunity in the future for distribution, partnerships and potentially an exit.
Explore our numbers
Prepared by prominent advisory firm, Modoras, we have a comprehensive 3-way financial model available for investors. A Video walk-thru is available below and access to the model can be granted upon request.
We have set aggressive revenue targets for Cohabit. We have built a strong core product that has demonstrated the ability to ingest data very quickly and drive growth of the data sales.
The key current and future revenue streams include:
Cohabit Expert revenue
Pricing model:Monthly Sub + Rev ShareEstimated annual revenue (Year 5):$2.4MData Product Revenue
Pricing model:Per API FeesEstimated annual revenue (Year 5):$1.7MTransaction Fees from Cohabit Pay
Pricing model:Transaction feesEstimated annual revenue (Year 5):$3.4M
Our currently monthly burn rate. We have modelled revenue commencing in July 2025 and foresee a similar burn rate for 18 months as we grow our resources.
As we launch our products, we are gathering data on costs associating with acquiring and retaining Experts, Buildings and Data customers with the aim of determining an accurate CAC.
As we launch our products and begin to generate revenue, we are focused driving down our burn multiple.
Fundraising to date
Cohabit has been funded by a small group of strategic partners who have invested funds under a Simple Agreement for Future Equity (SAFE).
The SAFE note particulars are as follows:
12 month maturity term (April 2025), or conversion on equity raise (whatever occurs first)
Valuation cap of $5M
The amount being raised under this SAFE note is $1M with $185,000 remaining as at 1st April 2025.
Use of funds - Key areas we want to invest in
Growth of the engineering team
Marketing and Sales
Acquisition of smaller data businesses
Thank you for reviewing
If you would like to explore the product, we encourage you to download our app and create a profile.
For any questions, requests for additional information or to book a demo please contact Thom Richards on 0419 330 033 or thom@cohabit.com.au
Disclaimer
This Document has been prepared by Cohabit Technologies Pty Limited (“Cohabit”) for the Recipient for its preliminary information only. This Document is not a prospectus or disclosure document lodged with the Australian Securities and Investment Commission under the Corporations Act, 2001. It is provided on a confidential basis in accordance with the terms of the Confidentiality Deed entered into by the Recipient with Cohabit and may not be reproduced in whole or in part, nor may any of its contents be disclosed to any other person without the prior written consent of Cohabit. In addition, it is provided in the belief that the Recipient and its related entities are either sophisticated investors pursuant to section 708(8) of the Corporations Act or professional investors pursuant to section 708(11) or otherwise persons to whom a disclosure document is not otherwise required to be given under chapter 6D of the Corporations Act. Any offer to participate in the proposed placement can only be accepted by investors that qualify in this regard. By retaining this document, the Recipient acknowledges that it accepts, and agrees to abide by, the terms and conditions referred to in this Disclaimer.
No information set out in this document (other than for this Disclaimer) will form the basis of any representation, offer or contract that may be given by or entered into, if at all, between Cohabit and the Recipient. This Document does not purport to be all inclusive or complete and it does not purport to provide the Recipient with all the information the Recipient may require in order to investigate the proposed capital raising (“Transaction”).
None of Cohabit nor any of their respective directors, employees or advisers (collectively called the "Relevant Persons") make any representation or warranty as to the accuracy, sufficiency, completeness or reliability of the contents of this Document, nor any other information that may be provided by any of them to the Recipient in the course of discussions, investigations or dealings with or regarding the Transaction, including any forward looking statements, forecasts, estimates, projections or opinions as to future matters. To the maximum extent permitted by law, none of the Relevant Persons accept, and expressly disclaim, any liability (including, without limitation, any liability arising from any misrepresentation, fault or negligence on the part of any Relevant Person) or any loss or damage (whether direct, indirect or consequential) suffered or incurred by any person in connection with the provision or contents of this Document or other information. The Recipient irrevocably waives all rights and claims, whether arising in contract, tort (including negligence), under statute or otherwise, in connection with the provision or contents of this document or other information or the purported reliance on this document or other information by the Recipient.
This document may contain forward-looking statements, forecasts, estimates, targets, projections, opinions and assumptions as to future matters ("Forward Statements"). These Forward Statements have been prepared by Cohabit and involve significant elements of subjective judgement or assume certain circumstances or events which may prove to be incorrect, may or may not occur, may be delayed or change and/or may be outside of the control or influence of Cohabit and other Relevant Persons. No independent third party has reviewed the reasonableness of any Forward Statements and actual future results could vary materially from the Forward Statements. None of the Relevant Persons represent or warrant that the Forward Statements will be achieved or will prove to be correct, or that the assumptions on which the Forward Statements are based are reasonable. In preparing this Document, the Relevant Persons did not take into account the investment objectives, financial situation or needs of the Recipient, and no investment should be made on the basis of this document alone. The Recipient should conduct its own independent investigation and assessment of the contents of this document and conduct such additional investigations in relation to the Transaction as it deems necessary or appropriate. Any costs incurred by the Recipient in conducting such investigations are not the responsibility of any Relevant Person.
This Document has been prepared based on information current at 1 July 2024 (the “Reference Date”), unless specified otherwise. The Recipient acknowledges that circumstances may change and the contents of this document may become outdated as a result. Neither the delivery of this Document nor any dealings or contract subsequently entered into with the Recipient will under any circumstances constitute any implication that there has not been any change in the market, business or financial performance, position, affairs or prospects of the Transaction or its businesses, assets or liabilities since the Reference Date or any other date as at which any information contained in this document is expressed to be stated. None of the Relevant Persons will be under any obligation to provide the Recipient with access to any additional information, to update this document and/or to correct any inaccuracies that may become apparent in this document after the date of its issue.