Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
WSJ
WeWork’s parent is expected to postpone its initial public offering after investors questioned how much the company is worth and raised concerns about its corporate governance. The shared-workspace company—which had planned to begin a roadshow to market the shares as early as Monday ahead of a trading debut next week—is likely to shelve the offering until at least next month, people familiar with the matter said.
FIELDWIRE
The round was led by Menlo Ventures with participation from Brick & Mortar, Formation 8, and Hilti Group. SAN FRANCISCO (September, 16, 2019) — Fieldwire, a leading field management solution for the construction industry, today announced an additional $33.5 million in fresh funding, led by Menlo Ventures with follow-on from Brick & Mortar Ventures and participation from Hilti Group and Formation 8. Menlo’s Tyler Sosin will join Fieldwire’s Board of Directors alongside current board me…
GEEKWIRE
MoxiWorks, a Seattle startup that operates a platform for real estate brokers, has raised cash from private equity firm Vector Capital. The company declined to reveal the size of the “meaningful” stake or the terms of the deal. The startup plans to use the funds toward product development, sales and marketing efforts, as well as potential acquisitions.
STL
NEW YORK (STL.News) – Funnel, the multifamily product produced by Nestio, was just announced as the #1 software in the CRM category of the Sixth Annual Real Estate Tech Awards (#RETAS), presented by CREtech (cretech.com), the largest event, data and content platform in the commercial real estate tech industry. In addition, they’ve been named as a finalist for the Top 5 Best-in-Class companies, with the winner set to be announced live at CREtech. Sponsored by JLL Spark, the Real Estate Tech Aw…
FORBES
Voyage, a Silicon Valley self-driving vehicle startup focused on using the technology to provide transportation at retirement communities, has landed $31 million of new funding to expand its robotic fleet and engineering team. Led by 31-year-old CEO and cofounder Oliver Cameron, a Forbes 30 Under 30 alum, Voyage said Franklin Templeton was the lead investor in its Series B round, which was also backed by Khosla Ventures and Jaguar Land-Rover and Chevron tech investment funds. The Palo Alto, Cal…
FORTUNE
When catastrophe strikes, Hippo customers know who to call: Assaf Wand, the $1 billion homeowners insurance startup’s cofounder and CEO. In times of duress, Wand has been known to give his personal phone number and email address to customers. He describes his unusual approach to customer service on the latest episode of Balancing The Ledger, Fortune’s show about the intersection of finance and technology….
BISNOW
A new report from CBRE predicts that the market for U.S. coworking space will continue to expand robustly over next decade, despite any coming recessions. The report’s high-growth scenario has as much as 22% of office space occupied by coworking entities by 2030, and even the low-growth scenario puts the total by then at 6.5%, up from the current 1.8%.
COMMERCIAL OBSERVER
The Dallas-based startup Neighborhood Goods, a retail store that features a rotating roster of digital brands, has raised $11 million in Series A funding and is plotting to open its first New York City location in Chelsea Market. The company, which features direct-to-consumer brands like Dollar Shave Club, Rothy’s and Stadium Goods, is using the funding to open its Chelsea Market location in the Meatpacking District this fall, according to Neighborhood Goods co-founder Matt Alexander. It’s a…
GEEKWIRE
Unearth Technologies is front-and-center on the map of the Seattle startup scene. The company, which aims to simplify geographic information system (GIS) mapping technology, just raised $7 million as part of a Series A investment round led by Vulcan Capital, the investment arm of the late Paul Allen, with participation from Madrona Venture Group.
WSJ
SoftBank Group Corp. plans to buy at least $750 million of the shares in WeWork’s impending IPO, a move that could allow the office-sharing company to shore up an offering that has been plagued by tepid investor demand. The Japanese technology conglomerate, already the biggest investor in WeWork’s parent, would end up with 25% or more of the shares sold in an offering that’s expected to raise at least $3 billion and value the startup at between $15 billion and $20 billion, according to peop…
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