Proptech Labs
Proptech Labs is a Melbourne-based SaaS company providing an AI-enabled property management software suite (Bricks+Agent, Inspection Manager, Invoice Automate, Key Automate, reHeroes chatbot) for 2,000+ property management agencies in Australia and New Zealand, now acquired by MRI Software.
- Company typePrivate
- Founded-
- HeadquartersSydney, Australia
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
What Proptech Labs does
Proptech Labs (legal entity: Vendor Compare Pty Ltd) is a Melbourne-headquartered, Australia-focused SaaS company that provides an integrated AI-enabled software suite for property management agencies operating in Australia and New Zealand. The company builds and operates five interconnected products — Bricks+Agent (maintenance and workflow management), Inspection Manager (property inspections with an AI Services add-on for auto-comments, image recognition, and asset registration), Invoice Automate (data extraction, duplicate detection, and bulk approvals), Key Automate (digital key tracking), and reHeroes (Alex AI chatbot for tenants, websites, email, and calls). The platform integrates natively with ten major trust accounting and property management systems (Property Tree, Palace, Console Cloud, Property Me, Kolmeo, Chintaro, Re-Leased, REAPIT, File Smart, Rest Professional) plus Xero and MYOB accounting, creating deep switching-cost moats for the 2,000+ agencies on the platform.
The business model centers on tiered per-properties-under-management (PUM) subscription pricing across each product line, with separate PUM-based or usage-based tiers for Bricks+Agent ($0.50-$0.90/PUM), Inspection Manager (Essentials to AI tiers running up to $7,882/mo at the largest brackets), Invoice Automate (quarterly plans), and Alex chatbot modules. Additional revenue comes from one-time implementation and training fees ($499 each, $199 for Alex for Calls), overage charges on base plans, and hardware sales (QR code magnets, Insta360 cameras, Igloo smart locks, SD cards). The go-to-market combines direct sales for enterprise/franchise deployments, inside sales for mid-market agencies, and product-led growth through self-serve trials, iOS/Android apps, and a heavy webinar/training content engine.
Proptech Labs was acquired by MRI Software in October 2025, with the company's capabilities (maintenance, invoicing, key management, inspection, and AI automation) slated for integration into MRI's Property Tree and Palace platforms for ANZ customers by December 2025. The company holds the Telstra Best in Business Award for Outstanding Growth, MRI Ascend Partner of the Year 2024, and the 2022 PROPTECH Award for Most Innovative Proptech Scale Up, and reports 1.6M properties, 5.1M owners/tenants, and 110K trades on the platform.
Proptech Labs firmographics
Firmographics- Name
- Proptech Labs
- Legal name
- Vendor Compare Pty Ltd
- Website
- https://proptechlabs.com
- Company type
- Private
- Operating status
- Acquired
- Headcount range
- 101–250 employees
- Short description
- Proptech Labs is a Melbourne-based SaaS company providing an AI-enabled property management software suite (Bricks+Agent, Inspection Manager, Invoice Automate, Key Automate, reHeroes chatbot) for 2,000+ property management agencies in Australia and New Zealand, now acquired by MRI Software.
- Ownership category
- akta.pro rank
Proptech Labs industry classification
Industry- Product category
- Property Management Software
- NAICS
- Computer Systems Design and Related Services (54151)
- SIC
- Services-Computer Programming Services (7371)
- akta.pro primary industry
- Robotic Process Automation (RPA) & Hyperautomation Platforms (HDAEAKAF)
Keywords
Where Proptech Labs is headquartered
LocationHeadquarters
- HQ city
- Sydney
- HQ country
- Australia
- HQ region
- Oceania
Offices1 record
Markets served
Proptech Labs business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure
Revenue model
- Subscription Software Licensing: Monthly or annual subscription fees based on properties under management (PUM) count or usage metrics. Tiered pricing models with per-PUM rates decreasing as volume increases. Minimum commitments and contract terms apply.
- Product Add-ons and AI Services: Additional fees for AI Services addon on Inspection Manager, premium chatbot features (Alex for Website+, Alex for Calls), and overage charges on base plans.
- Hardware Sales: Sale of physical products including QR code magnets, Insta360 cameras, Igloo Keybox smart locks, SD cards, tripods, and lens guards for property inspection workflows.
- Implementation and Training Services: One-time fees for implementation ($499) and training ($499) services for Bricks+Agent, plus implementation fees for Alex for Calls ($199).
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Monthly | Bricks+Agent: Per PUM pricing from $0.50-$0.90, minimum $100/month for <100 PUM |
| Subscription | Quarterly | Invoice Automate: Quarterly plans from $172.50 to $3,915 |
| Subscription | Monthly | Inspection Manager: Monthly from $55 to $2,716 |
| Subscription | Monthly | Alex for Tenants: Monthly from $148 to $1,409+ |
| Subscription | Monthly | Alex for Website+: $299-$3,200/month based on listing count |
| Subscription | Monthly | Alex for Calls: $199/month for 0-Unlimited calls |
| One time/ perpetual license | Pay-as-you-go | QR Code Magnets: Physical product pricing |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
Proptech Labs product offering
Product offeringCore offering
Proptech Labs provides a cloud-based, AI-powered SaaS suite for property management agencies, integrating five complementary products: Bricks+Agent for maintenance workflows, Inspection Manager for property inspections with AI Services add-on, Invoice Automate for invoice processing, Key Automate for digital key tracking, and reHeroes/Alex AI chatbot for tenant and website communications. The platform is sold on per-property-under-management subscriptions and integrates natively with major trust accounting systems across Australia and New Zealand.
Product overview
Proptech Labs is a property management software company offering an integrated suite of solutions for property managers, tenants, trades, and owners in Australia and New Zealand. The product portfolio consists of five core interconnected products: Bricks+Agent (maintenance and workflow management platform), Inspection Manager (property inspections with optional AI Services add-on), Invoice Automate (automated invoice processing), Key Automate (digital key management), and reHeroes/Alex AI (natural language chatbot platform). These products share data integrations with major trust accounting platforms (Property Tree, Palace, Console Cloud, Property Me, Kolmeo, Chintaro, Re-Leased, REAPIT, File Smart, Rest Professional) and accounting software (Xero, MYOB), creating a unified ecosystem for property management operations. The company was acquired by MRI Software in October 2025, with integration into MRI's Property Tree and Palace platforms underway.
Differentiator
Problem solved
Functional benefit
Products and services
- Bricks+Agent Comprehensive property management and maintenance workflow platform that connects property managers, trades, owners, and tenants in a unified system for managing maintenance requests, job tracking, invoice processing, and communication. Targets property management agencies of all sizes in Australia and New Zealand.
- Inspection Manager AI-enhanced property inspection platform supporting routine, ingoing, outgoing, and tenant-assisted inspections using mobile or 360-degree cameras, with automated reporting, comment generation, and asset recognition. Includes the AI Services add-on for automated comment and asset automation. Targets property managers conducting tribunal-ready inspections.
- Invoice Automate Automated invoice processing solution for property management that handles invoice upload, AI-driven data extraction, duplicate detection, bulk approvals, and real-time syncing with trust accounting platforms. Reports 95% time savings and 90% fewer errors on invoice processing.
- Key Automate Digital key management system for property environments providing precise key tracking, visual color tags, overdue alerts, and streamlined workflow integration with property management software to improve security and accountability.
- reHeroes (Alex AI) AI chatbot platform for real estate using natural language and AI to resolve maintenance issues, answer tenant questions, handle website enquiries, process emails, and manage call queues. Includes Alex for Tenants, Alex for Website+, Alex for Emails, and Alex for Calls modules.
- AI Services AI-powered add-on service for Inspection Manager providing auto-comments, auto-assets, and image recognition capabilities that enable AI-driven comment automation and asset registration for property inspections using 360 or standard cameras. Generally available as a separately sold add-on.
- QR Code Magnets Branded QR code magnets customised with agency branding and QR codes that direct tenants to the Bricks+Agent support platform for maintenance request submission. Sold in Australia and New Zealand in various pack sizes with minimum order quantities.
- Hardware Accessories Inspection hardware products including Insta360 cameras, selfie sticks, tripods, SD cards, lens guards, and Igloo Keybox 3 smart locks sold through the Proptech Labs shop to support property inspection workflows.
Quantifiable outcome
- 70% time savings on routine property management tasks
- +6 more outcomes
Companies that use Proptech Labs
Customer profileNamed customers10 records
Segments4 records
Ideal customer profiles4 records
Proptech Labs technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration13 records
AI capability9 records
Feature5 records
Proptech Labs partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- MRI SoftwarecoreProptech Labs was acquired by MRI Software in October 2025. The acquisition integrates Proptech Labs' specialized capabilities—including advanced maintenance, invoicing, key management, inspection management, and AI-driven automation—into MRI's Property Tree and Palace platforms. Key features will be made available to existing Property Tree and Palace subscribers by December 31st, 2025.
- Property TreecoreNative integration with Property Tree trust accounting platform, enabling seamless data sync between maintenance workflows and trust accounting.
- PalacecoreNative integration with Palace property management platform, enabling seamless workflow between maintenance, inspections and property management.
Scale indicators9 records
Recent moves6 records
Expansion highlights6 records
Proptech Labs competitors and assessment
Company assessmentBroad incumbents
- MRI Software: Global real estate software provider that acquired Proptech Labs in October 2025. Operates Property Tree and Palace platforms serving ANZ agencies with broader enterprise property management functionality — directly comparable as the parent and broader incumbent in the same category.
- Buildium: US-based property management SaaS owned by RealPage. Serves residential property managers with accounting, maintenance, and tenant communication — directly comparable end-to-end platform competitor in the same product category.
- AppFolio: US-listed property management SaaS platform serving residential and commercial property managers with AI-enabled workflows. Comparable as a larger, broader incumbent offering integrated maintenance, inspection, and accounting features to a similar customer persona.
- Yardi: Global real estate software incumbent offering end-to-end property management, accounting, and CRM for residential and commercial portfolios. Comparable as a much larger broad incumbent whose software suite overlaps substantially with Proptech Labs' integrated offering.
Direct peers
- Console Cloud: ANZ-focused trust accounting and property management platform serving residential and commercial agencies. Directly comparable as a trust accounting platform that Proptech Labs integrates with and competes alongside in the agency software stack.
- PropertyMe: Australian cloud-based property management platform serving agencies and landlords across ANZ. Directly competes with Bricks+Agent and other Proptech Labs modules in the same customer segment.
- Rest Professional: ANZ trust accounting and property management platform widely used by real estate agencies. Comparable as a native ANZ trust accounting peer integrated into the same property management workflow stack.
- Kolmeo: Australian property management platform serving agencies and strata managers. Comparable as an ANZ-native trust accounting and property management competitor integrated into the same agency workflows.
- Re-Leased: Cloud-based commercial property management software with strong ANZ presence. Comparable as a property management workflow platform; overlap is strongest in maintenance/inspections but Re-Leased leads in commercial rather than residential.
Emerging players
- Inspectorio: AI-powered inspection and quality assurance platform serving supply chains and real estate. Comparable as an emerging AI-driven inspection technology provider with overlapping computer vision capabilities for property asset verification.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Proptech Labs social profiles
Digital presenceProptech Labs compliance and trust
Trust signalCompliance2 records
Proptech Labs financial estimates
Financial estimateRevenue estimate
Valuation estimate
Proptech Labs leadership team
Management profileNumber of profiles
Profiles6 records
Proptech Labs funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Proptech Labs M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Proptech Labs
What does Proptech Labs do?
Proptech Labs provides a cloud-based, AI-powered SaaS suite for property management agencies, integrating five complementary products: Bricks+Agent for maintenance workflows, Inspection Manager for property inspections with AI Services add-on, Invoice Automate for invoice processing, Key Automate for digital key tracking, and reHeroes/Alex AI chatbot for tenant and website communications. The platform is sold on per-property-under-management subscriptions and integrates natively with major trust accounting systems across Australia and New Zealand.
Is Proptech Labs a public or private company?
Proptech Labs is a private company. It is classified as corporate owned and is currently acquired.
When was Proptech Labs founded?
Proptech Labs was founded in -1. It employs 101 to 250 people.
Where is Proptech Labs based?
Proptech Labs is headquartered in Sydney, Australia, in the Oceania region.
How does Proptech Labs make money?
Four revenue lines are on record. Subscription Software Licensing is the primary driver. The others are product Add-ons and AI Services, hardware Sales and implementation and Training Services.
Who are Proptech Labs's main competitors?
Broad incumbents on record are MRI Software, Buildium, AppFolio and Yardi. Direct peers are Console Cloud, PropertyMe, Rest Professional, Kolmeo and Re-Leased. Inspectorio is listed as an emerging player.
Does Proptech Labs have an API?
No public API is recorded for Proptech Labs.
What industry is Proptech Labs in?
Proptech Labs's product category is Property Management Software. Its primary akta.pro industry code is HDAEAKAF, Robotic Process Automation (RPA) & Hyperautomation Platforms. Its NAICS code is 54151 and its SIC code is 7371.