The Deal
SohoAI and Inspace are merging. Jonathan Lui, who co-founded Airtasker and raised $750,000 for SohoAI in 2023 at a $20 million valuation, will run the combined business. Inspace founder Justin Liang moves to the board.
B Capital, the Singapore fund backed by Facebook co-founder Eduardo Saverin, led an undisclosed funding round into the new entity. Other investors participated but were not named. The company has not disclosed the deal size, combined valuation, or total headcount.
The Context
ANZ property transactions are down 23% year-on-year in the three months to October, according to Cotality. Dwelling values dropped 1.2% in October, sitting 6.7% below the March peak. The RBA raised rates for the fifth time in 2026 this week. Property tax changes from the May federal budget added pressure.
Proptech is consolidating in a softer market. This merger pools SohoAI's residential discovery tools (relaunched last month with AI chatbot search) and Inspace's commercial property marketing and 3D tools (used on $190 billion in assets by Dexus, Goodman, Mirvac).
What It Means for Sales
Lui said the goal is to "be bigger and better," not slash teams. That suggests headcount expansion, but no hiring numbers were shared. Both brands will continue operating under a new parent company.
For sales professionals watching proptech: this is a scale play in a down market. Inspace already works with enterprise clients. SohoAI targets residential discovery. The combined book of business could support an expanded sales org, but the team has not confirmed new roles or comp structures yet.
SohoAI raised more than $8 million total before the merger. Inspace's backers include B Capital, OIF Ventures, Investible, and Artesian. The new entity has capital and customer traction. The question is whether they deploy it into sales hiring or product consolidation.
The Numbers
SohoAI: $750,000 raised in 2023, $20 million valuation, $8 million total funding.
Inspace: $190 billion in property assets under management.
ANZ property market: Transactions down 23% YoY, values down 6.7% from March peak.
What we don't know: combined headcount, new funding amount, sales team size, hiring plans.