CREtech Weekly PropTech Venture Capital Funding Recap
This week witnessed several relatively large deals in real estate tech venture capital. Most of this week’s capital went to companies that focus on lease process management, home improvement, parking management and smart key solutions.
Porch, Seattle-based provider of a home improvement marketplace, raised $21 million as part of a Series C round. Porch matches customers with home services professionals for improvement projects. The company is currently pushing towards profitability. FlashParking, an Austin-based developer of parking management software, raised $60 million in new financing from the private equity investment firm L Catterton. First launched in 2011, FlashParking’s software provides real-time data and variable pricing options for parking space providers. KeyMe, a New York-based developer of a mobile application designed to scan, save and share a digital copy of key and order copies shipped to door, closed a $35m financing round led by Brentwood Associates. Dottid, a Dallas-based commercial real estate software-as-a-service technology platform, announced it has raised $3.85 million in seed funding on January 13th. Dottid provides a singular location for owners, brokers, and tenants to seamlessly transact throughout the leasing process. Upflex, a New York-based co-working office company, raised seed financing. Upflex currently has 8,000 workspaces in 200 cities in 65 countries. Cape Analytics, a Mountain View, California based provider of AI-powered geospatial property data, received an undisclosed investment from State Farm Ventures. Finally, MRI Software, a Solon, Ohio-based provider of real estate software solutions, received an undisclosed investment from Harvest Partners LP and TA Associates.
In Europe, Matera (ex IlliCopro), a French based property management platform intended to take care of the administrative and accounting tasks of buildings, raised $11.1 million (EUR € 10 million) of venture funding in a deal led by Index Ventures on January 15, 2020.
What does this all mean?
Deals in North America dominated the headlines this week, where deal sizes ranged greatly, between $3 and $60 million. Another big takeaway from this week's funding recap was the variety of proptech categories, which included parking management, smart key solutions, property management, coworking and home improvement.
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