RETech reports that funding of real estate tech companies fell by 40 percent in a year-over-year comparison from July 2016 to July 2017. However, the first quarter numbers from 2017 show that the real estate tech industry is alive and booming. Venture firms invested nearly $173 million in U.S.-based real estate tech firms and $333 million globally. Read on to find out where those investments are being made.
Real Estate Tech (Software/Hardware) | Q1 2017
- PropTiger | Gurgaon, India | $55 Million
- Placester | Boston | $50 Million
- HouseCanary | San Francisco | $33 Million
- Knock | New York City | $32.5 Million
- Mindspace | Tel Aviv | $15 Million
- Credifi | New York City | $13 Million
- Square Yards | Gurgaon, India | $10 Million
- Nested | London | $9.9 Million
- Goodlord | London | $8.9 Million
- Trussel | London | $5.6 Million
The U.S. companies that placed within the top 10, Placester, HouseCanary, Knock and Credifi, give insight to the growing diversity of real estate technology. Placester’s focus is on a singular digital marketing platform, including websites, lead management and email marketing. HouseCanary on the other hand is more of a data-driven platform that allows users to analyze the market data and trends locally, regionally or nationally. The potential user is anyone from an appraiser or a broker, to an investor or a lender. Knock is a do-it-yourself platform that guarantees a seller’s ability to sell their home in six weeks. And, Credifi is a big-data platform focused on providing great insight and lending opportunities to the commercial real estate industry.
As we continue to watch trends in real estate tech investment, we expect to see a fair amount of diversity in the areas of concentration. No longer is real estate tech solely about a website, app or CRM. Now, there’s a growing demand to keep up with the ways to collect, analyze and distribute data as well as finding ways to streamline processes in general.
To see a full list of the global investments made in both real estate and real estate technology click here.