LOS ANGELES--(BUSINESS WIRE)--Leonardo247, the leader in remote monitoring of onsite multifamily operations, today announced the company was awarded U.S. Patent (No. 10,867,135) that gives Leonardo247 rights to a process of using expert knowledge combined with limited data to "jumpstart" a machine learning (ML) algorithm that reduces the time necessary to achieve accurate ML output. Leonardo247 uses this artificial intelligence (AI) to translate municipal codes into actionable maintenance compliance tasks to ensure adherence to applicable laws.
"Our advanced technology solutions make it simple and cost-effective to manage and maintain a commercial real estate property in accordance with local codes and avoid costly fines, litigation, or even criminal penalties that can arise from neglecting to do so," said Daniel Cunningham, Founder and CEO of Leonardo247 and co-inventor of the patent. "This patent validates our unique code compliance engine and further differentiates our offering and competitive advantage in the market."
Typically, active machine learning requires the time-consuming operation of manually gathering thousands of examples for each specific match, which can then translate to millions of data samples in an area as in-depth and complex as statutes and regulations. However, Leonardo247's newly developed technology uses an intelligent initial data set and limited supervised machine learning to dramatically speed up the unsupervised machine learning process. Natural language understanding, in this case of legalese, then matches the intention of each maintenance compliance code to its unique practical application using smarter hierarchical clustering. The resultant system then continuously monitors and recognizes changes to or the addition of new laws.
Code compliance is one feature the Leonardo247 SaaS solution provides to fully-automate maintenance schedules, inspections, work orders, communication, policies, procedures and best practices in apartment operations from any digital device. Property management executives use Leonardo to remotely manage the day-to-day activities onsite and get real-time visibility into what work is occurring and when it is completed.
The patent award comes just weeks after the proptech company raised $9.5 million from Level Equity. Since launching in 2014, Leonardo247 has experienced tremendous adoption, having since grown organically over 100% year over year. With the growing demand for its remote management capabilities, it is on pace to exceed 4,000 properties installed on the platform by the end of 2020.
Leonardo247 is the first of its kind remote performance management software that streamlines operations for real estate managers by delivering daily guidance to onsite operations teams and offers management executives real-time visibility into activities at their properties. Leonardo247 mitigates operational risk and improves consistency, transparency and accountability across an entire organization. For more information, visit www.leonardo247.com.