Year founded: 2017
Total funding: $22 million
What it does: TestFit uses AI to create building designs for residential development projects, complete with comparisons of construction complexities and costs.
Why it’s hot: Real-estate development requires contractors to weigh dozens of variables, including construction costs and the projected income of a project, often before any cash and deeds can be traded.
TestFit’s software is designed to help developers and architects do that work. TestFit says that in seconds it can develop a design that would create the most yield for a site with the cheapest construction cost.
The main challenge it faces: TestFit could face reduced demand for its product as higher interest rates slow real-estate development.