Latest Trends and Insights in Real Estate Technology

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  • Moody’s Divests From Xceligent Founder’s New Company After CoStar Settlement

    BISNOW

    Doug Curry has just lost a major backer of his new company after Xceligent, the company he founded and ran until 2017, reached a legal settlement with CoStar in a copyright infringement suit. Moody’s Corp., the financial services giant that launched a commercial real estate data network this year, has divested from its 23.8% stake in Curry’s new company, Empirical CRE.  “Moody’s has divested its entire stake in Empirical CRE in light of recent disclosures, and no longer has any connection to tha…

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  • Real estate fintech platform Immo Investment Technologies raises €11M Series A

    TECHCRUNCH

    Immo Investment Technologies, a London-based fintech startup that purchase homes on behalf of buy-to-let investors, has closed €11 million in Series A funding. Backing the round is Talis Capital and HV Holtzbrinck Ventures, with participation from Tom Stafford and Rahul Mehta of DST Global, and Mato Peric, among others. In addition, the company is disclosing that it has raised more than €60 million in real estate “buyer capital.” It will use the buyer capital to fund the acquisition of propertie…

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  • Reonomy Nabs $60M For AI-Driven Commercial Real Estate Data Platform

    CRUNCHBASE

    Reonomy, an AI-powered data platform for the commercial real estate (CRE) industry, announced this morning it has raised $60 million in Series D funding led by Georgian Partners. Wells Fargo Strategic Capital and Citi Ventures also participated in the round along with existing investor Sapphire Ventures. The financing nearly doubles the amount of funding previously raised by New York-based Reonomy for a lifetime total of $128 million, according to the seven-year-old company. It last raised $30 m…

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  • Emerging Trends: Venture Capital Investment in Construction Tech

    CRETech

    The construction technology sector is in a curious position right now. Rapid growth in recent years signals strong interest from everyone within the long and complex construction cycle, however, sheer market size means the market is far from saturated. The industry’s biggest players are already building innovative hardware and software solutions related to construction, building, and infrastructure, yet there are still plenty of unsolved pain points for developers. Venture capital investments ha…

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  • Compass to open tech hub in India

    THEREALDEAL

    Compass has tapped the brakes on new brokerage offices in the U.S. But it’s doubling down on tech talent in India. The SoftBank-backed brokerage announced plans Tuesday to launch a tech campus in Hyderabad focused on developing mobile apps. In a statement, CTO Joseph Sirosh cited the city’s “deep pool” of software development talent. Over the past year, New York-based Compass said it has more than tripled its tech team nationwide to a total of 400. “This injection of talent is enabling us to lau…

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  • HomeLight Raises $109M in Funding

    FINSMES

    HomeLight, a San Francisco, CA-based real estate platform, closed a $109m financing round. The round includes $63m in Series C equity led by Zeev Ventures, with participation from Group 11, Menlo Ventures, Crosslink Capital, Stereo Capital, and others, and $46m in additional funds to accelerate mortgage operations. The company intends to use the funds to expand its capabilities, including agent matching, title and escrow, iBuyer, and mortgage services. Launched in 2012 by Drew Uher, CEO, Home…

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  • Airbnb Suffered a Big Defeat in Jersey City. Here’s What That Means.

    NYTIMES

    If you are hoping to book a cheap stay just a short train ride away from the bustle of Manhattan, good luck finding an Airbnb in Jersey City. On Tuesday, Jersey City residents voted overwhelmingly in favor of stricter regulations on short-term rentals that will almost certainly shrink the number of Airbnb listings in New Jersey’s second-largest city. The new restrictions were a major defeat for Airbnb as it prepares to go public and the latest in a string of laws that cities around the world hav…

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  • Realogy’s plan to stop the iBuyers from gaining a foothold in Chicago

    THEREALDEAL

    Realogy’s defense against the growing horde of iBuyers landed in Chicago this week. The brokerage conglomerate, in partnership with Chicago-based Home Partners of America, is offering RealSure Sell, a tool that allows home sellers to accept a cash offer on their home within 45 days. The tool is seen as the conglomerate’s answer to automated iBuying offers from firms like Zillow Offers and Opendoor, which cut real estate brokers out of home sales. Though the trend hasn’t caught in the Chicago …

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  • Testing Out Proptech? Here Are The 5 Things To Know Before You Go.

    JONES

    A few weeks ago at CREtech 2019, Jones took part in a panel to answer a simple question: How can you run a successful technology pilot and win (or lose)? The questions from the audience came pouring in, and there was so much interest in the subject that we clearly couldn’t cover it all in 30 minutes. For the past two years, I have been fortunate to work with a talented team building a widely adopted software solution for the commercial real estate industry. We’ve worked with hundreds of prope…

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  • SoftBank Takes a $4.6 Billion Hit From WeWork. Its C.E.O. Remains Defiant

    NYTIMES

    Masayoshi Son makes big bets. Over nearly four decades, the chief executive of SoftBank Group of Japan has spent vast amounts of money to build an investment empire that spans countries and industries and that has increasingly shaken up the technology world. On Wednesday, Mr. Son, 62, defended that legacy in the face of his biggest setback in years. SoftBank reported that it had taken a nearly $4.6 billion hit from its investment in WeWork, the troubled office-space company that has come to sym…

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