The round comes roughly six months after CarbonAI launched its first product suite and, the company says, after reaching seven figures in contracted annual revenue. Named customers include debt funds, mortgage REITs, agency multifamily lenders, and publicly traded financial institutions, though CarbonAI has not disclosed individual client names beyond a reference from Greystone co-president Mordecai Rosenberg, who cited the platform’s due diligence automation.

The commercial real estate lending market presents a structural automation gap that the founders argue justifies a purpose-built, vertical AI approach. According to the Mortgage Bankers Association, $875 billion in commercial mortgages mature in 2026 alone, compressing lender timelines at a moment when interest rate pressures are forcing more borrowers to seek restructuring or refinancing. CRE lending teams collectively spend an estimated $50 billion per year on underwriting and loan monitoring, much of it still performed on spreadsheets and through manual document review.

CarbonAI’s agents extract and structure data from rent rolls, leases, financial statements, and legal documents, then autonomously produce underwriting models and flag risks, with every output linked to its source document. The system also handles continuous post-close monitoring rather than the traditional quarterly manual review cycle. Co-founder and chief executive Jeff Saul said the tool was designed to handle work end to end, rather than requiring lenders to prompt it through each step: “Lenders don’t need another chat window that they have to coach through every step.

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