CREtech Weekly PropTech Venture Capital Funding Recap

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Venture capital investments in proptech companies picked up speed in the first week of the new year. The largest deals of the week went to companies that focus on the buying and selling of residential real estate. In the US, Roofstock, a California based online marketplace where users buy and sell rental homes in more than 70 U.S. markets, raised $50 million. Perch, a New York based developer of the vertically integrated platform for buying and selling homes, has announced the close of a $36 million equity round led by Navitas. The company also announced that it is rebranding from Perch to Orchard. In Brazil, the digital real estate platform Loft announced it has closed on $175 million in Series C funding co-led by Vulcan Capital and Andreessen Horowitz.

Smaller deals took place in hospitality, smart home products, construction and marketing. The Guild, a real estate startup focused on corporate travel, has raised $25 million to expand its national footprint and further its tech offerings. This brought the company’s total haul to $32 million since 2016. Trifo, a California-based maker of smart home products, raised $15 million in Series B funding. Luxury Presence, a developer of a real estate marketing platform intended to set a new standard for elite luxury real estate websites and marketing, raised $5.04 million. FrontDesk, a Milwaukee based owner and operator of property rental services intended to serve business and leisure travelers, raised $2.67 million on December 31st. Burly, a provider of an online marketplace intended to offer peer-to-peer construction equipment rental services, raised $0.08 from an angel investor. Finally, La Haus, a Colombia based developer of an online residential platform designed to help people to find an ideal home, raised $6.75M Early Stage VC.

This week also witnessed an acquisition. MRI Software, a global leader in real estate software solutions, today announced the acquisition of Lindsey Software, a leading provider of property management software and services for public and affordable housing organizations in the United States.

What does this all mean?

As the market kicks off the new year, the overall deal activity is expected to increase. This week observed an increase in deal volumes, with relatively larger deals going to platforms that enable buying and selling of residential real estate. Among those, the largest deal took place in Brazil with $175 million invested in Loft, a digital real estate platform. The rest of the deals stayed within the $50-1 million range and were spread across a wide range of proptech subcategories.

For customized venture capital research in real estate tech, please contact us at research@cretech.com.