Cambio raises $18M to bring agentic AI to commercial real estate operations
Cambio announced an $18 million Series A and its public launch, focused on modernizing how owners and operators plan capital, manage compliance, and surface retrofit opportunities. 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 $20 trillion industry, yet multi-million-dollar decisions still rely on spreadsheets, PDFs, and months of manual analysis. Cambio's approach compresses that work into minutes by applying agentic AI across unstructured building data at portfolio scale.
What makes Cambio different
- Agentic AI workflows: Software that can reason across unstructured data, run multi-step analyses, and adapt as regulations, assets, and markets change.
- Speed at portfolio scale: Ingest thousands of pages of building data and produce investment-grade recommendations in minutes.
- Investor-grade outputs: Evaluate performance, flag retrofit opportunities, and generate capex strategies that prioritize ROI and compliance.
- From reporting to decisioning: Turn compliance from a filing exercise into a driver of performance and capital allocation.
Traction and customers
While in stealth, Cambio launched in more than 35 countries, opened a London office to serve the EU, UK, and APAC, and signed major owners and managers including Principal Real Estate, Nuveen Real Estate, BGO, LaSalle Investment Management, Oxford Properties Group, Madison International Realty, and Beacon Capital Partners.
Founder-market fit and new leadership hires
Cambio's founding team brings experience from KKR, Oxford Properties Group, JPMorgan, and Goldman Sachs-time spent wrangling data from scattered systems, reconciling invoices, and maintaining spreadsheets to forecast asset performance. They started building Cambio while completing graduate studies at Stanford University to replace those manual cycles with AI-driven workflows.
To support growth, the company added senior leaders: Lizzie Leon (formerly Goldman Sachs) as Head of Product Innovation; 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. Collectively, they've managed more than $400 billion in commercial real estate.
What industry leaders are saying
"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."
"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. "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."
Why this matters for owners, investors, and operators
- Capital planning with teeth: See where each dollar delivers the most decarbonization and NOI impact.
- Compliance as value: Automate disclosures and use them to justify portfolio-level capex priorities.
- Faster diligence: Replace manual review cycles with AI-driven summaries, benchmarking, and retrofit playbooks.
- Risk mitigation: Keep pace as local and national regulations shift without ballooning overhead.
How to put this to work
- Centralize building data (utility, BMS exports, audits, invoices) to enable AI-driven analysis.
- Pilot on a subset of assets with clear ROI thresholds and compliance milestones.
- Use portfolio-wide modeling to rank retrofits by payback, carbon impact, and tenant experience.
- Align annual capex budgets with AI-identified priorities and track results quarterly.
- Upskill your team on AI-first workflows for operations and asset management. If you need structured training, explore job-focused programs at Complete AI Training.
Learn more
For details on Cambio's AI-native platform for commercial real estate operations, visit cambio.ai.
About the companies
Cambio is an AI-native commercial real estate operations platform that turns raw building data into actionable insights to drive performance, ROI, and decarbonization. Learn more at cambio.ai.
Maverick Ventures is a San Francisco-based venture capital firm partnering with founders from inception through IPO, with a dedicated early-stage fund launched in 2015 and the resources of a multi-stage platform.
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