Propaya

What do they actually do

Propaya is a web app that turns commercial lease PDFs into structured summaries with links back to the exact clauses in the document. Users upload a lease, get a searchable abstract with citation-backed fields, and can export to Excel or Word or keep the data in a simple portfolio view. The product also supports team collaboration, custom output fields, and a “chat with your document” Q&A feature for asking open-ended questions about a lease or set of leases (homepage, features).

They market to brokers, property managers, investors, and legal teams who need faster, verifiable lease facts without manual review. The site promotes a self-serve “try for free” flow, and highlights traction signals like “10k+ Leases Abstracted” and customer testimonials (examples include Colliers), with custom enterprise solutions for larger teams (homepage, features). The company is early-stage (YC S24) and iterating on handling messy, multi‑amendment documents, while expanding portfolio features and integrations over time (YC profile, features).

Who are their target customer(s)

• Commercial brokers: They need rent, term, options, and key facts quickly to price and market deals; manual lease reading for each listing is slow and error-prone (features).
• Property managers / asset managers: They manage many leases and struggle to track critical dates, obligations, and amendments by hand, which leads to missed renewals and compliance issues (features).
• CRE investors / acquisitions teams: During diligence they must convert dozens of leases into comparable, reliable facts fast; inconsistent manual abstracts slow deal pacing and increase risk (homepage).
• In-house legal teams and real estate attorneys: They spend hours checking complex clauses and amendments and need every extracted point tied to the source clause, not summaries without proof (features).
• Portfolio analysts / heads of real estate: They want standardized, searchable lease data for benchmarking and portfolio decisions, but fragmented records make analysis slow and unreliable (YC profile).

How would they acquire their first 10, 50, and 100 customers

• First 10: Founder-led outreach to known brokerages and property managers; offer white-glove, discounted abstraction for their first 5–10 leases and turn the verified, citation-backed outputs into short case studies to close the next prospects (features).
• First 50: Tighten the self-serve trial flow, add common output templates, and run targeted LinkedIn outreach and small paid campaigns to CRE roles; convert trials with clear ROI examples and light founder support for edge cases (homepage).
• First 100: Stand up 1–2 SDRs and an implementation specialist for paid pilots with mid-market firms; ship simple integrations/export pipelines into common PM stacks and launch a partner program with CRE consultancies and brokerage teams.

What is the rough total addressable market

Top-down context:

The target is the global set of brokerages, property/asset managers, investors, and legal teams that regularly review and manage commercial leases. Spend today is split between in‑house time and outsourced abstraction; Propaya converts a portion of that into software spend.

Bottom-up calculation:

If ~8,000 target organizations globally each process ~500 leases/year and Propaya captures ~$40 per lease on average (mix of per‑lease and subscriptions), annual TAM for abstraction is ~8,000 × 500 × $40 ≈ $160M. This can expand with portfolio analytics and integrations.

Assumptions:

• ~8,000 mid-market and enterprise organizations globally that handle frequent commercial leases
• ~500 leases reviewed/abstracted per org per year (including renewals and amendments)
• ~$40 average revenue per lease to Propaya across plans and tiers

Who are some of their notable competitors

• Prophia: AI-driven commercial lease data extraction and portfolio insights for owners and operators; a direct competitor focused on CRE lease data.
• MRI Contract Intelligence (Leverton): Established CRE-focused lease abstraction and OCR/AI platform integrated into MRI’s real estate software suite.
• Litera Kira: Widely used contract analysis tool in legal, including lease abstraction use cases for due diligence and reviews.
• Evisort: Contract intelligence and extraction platform used by legal and operations teams; supports custom models and lease workflows.
• Zuva: Document AI APIs for clause and field extraction; used by teams building custom contract and lease-intelligence workflows.