Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
GLOBEST
Commercial real estate stakeholders aren’t leaving data privacy and cybersecurity to chance in 2020. Stakeholders across the industry are clamping down as both become a pressing challenge among connected buildings, Arie Barendrecht, CEO of WiredScore, a CRE tech firm and creator of a digital connectivity rating system for the sector, tells GlobeSt.com.
SMARTCITIESWORLD
The next wave of smart building solutions is forecast to grow at 32 per cent compound annual growth rate (CAGR) over the next eight years to create $2 billion in software and services revenues by 2026. According to a new report from global tech market advisory firm ABI Research, the smart building market has begun to grow and evolve away from the traditional areas of HVAC, lighting, access control and safety to more advanced needs.
THEREALDEAL
WeWork, the struggling co-working giant attempting to turn itself around after a botched IPO attempt, is tapping industry veteran Sandeep Mathrani as CEO. Mathrani is taking over the role from Artie Minson and Sebastian Gunningham, the Wall Street Journal reported. The two have served as co-CEOs of the We Company — WeWork’s parent — since the departure of the startup’s founder, Adam Neumann, in September.
THEREALDEAL
Texas-based property management software provider RealPage was the target of hackers who stole $10.5 million from the company’s accounts, according to local media.
INC42
Venture capitalist Tim Draper has invested $3.5 Mn in Tribe Theory, an international entrepreneur-focused hostel chain. The hostel chain was founded by Vikram Bharati in Singapore and came into India with the acquisition of Construkt Startup Hostels founded by Shashikiran Rao and Karan Bahadhur. With this, the existing hostel will rebrand to Draper Startup House (DSH), which is an expansion of Tim Draper’s global brand that also includes Draper Venture Network, Draper Associates and Draper Unive…
CREtech
This week witnessed several relatively large deals across a variety of countries, where deals in Europe and North America dominated headlines. The majority of this week’s capital went to companies that transform the hospitality and micro mobility industries. Investments also focused on companies that digitize the traditional buying and selling process through app design and online marketplaces. The largest round went to Bird, a Berlin and Santa Monica-based electric scooter and bike company. Bi…
AMERICANINNO
Knox Financial, the eight-month-old Boston startup that turns homes into investments by renting them out for the owners, has raised $3 million in seed funding led by Greycroft with participation from Pillar VC. The money will help propel Knox’s expansion into new markets over the next 12 months. Launched in Boston last March with $1.4 million in seed funding, Knox’s pilot program had the company overseeing 30 properties in Greater Boston by November.
PLACETECH
Six out of 10 senior executives in the world’s biggest real estate firms believes the rise of platforms that cut out agents and other intermediaries will cause major disruption in the years ahead. Software giant Altus Group surveyed 400 senior executives at some of the world’s largest real estate firms, each with at least $250m assets under management and representing a total AUM of more than $2tn. The findings reveal the expectations of the industry’s leaders on the impact of disruptive tech…
CRETECH
FUTURE PropTech, part of the World’s number one real estate technology event series, has announced a new CONTech Pavilion for the 2020 London show. As the convergence of smart buildings, digital twins, BIM, AI, robotics and other technologies become commonplace, The ConTech Pavilion will provide a dedicated meeting point for the leading solutions providers, world class speakers and VCs focused on digital transformation within the construction sector. The pavilion will include a stage with a d…
GETJONES
2019 was a riveting year for PropTech. Venture investments peaked at $25BN (double that of 2018), acquisitions picked up (a handful at >10x revenue multiples!), unicorns emerged (VTS), and valuations hit new highs. While one PropTech titan wound down its IPO (WeWork), another is getting ready for the hottest IPO of 2020 (AirBnB). The cycle is hitting a dizzying pace. Five years ago, when we both entered the space, the term “PropTech” would earn you confused looks from techies and real estate …
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