Ten-X the firm that allows users to buy and sell both commercial and residential properties online announced the sale of a majority stake to private equity firm Thomas H. Lee Partners for $1B. The deal signals a shift in the type of real estate tech companies that are seeing strong investment activity. According to CBInsights, last year HomeLinks and OpenDoor raised $926M and @$210M boosting VC’s real estate tech investment by 40%
eMoov, a proptech startup, has picked up £9 million in funding by JXC ventures and is now calling itself a “hybrid estate agent” in recognition that not all of its processes are automated by tech and thinks human are still needed at various touch points of what is a “people” business.
DigsyAI, an AI powered prospecting automation platform for commercial real estate, differentiates itself as a simple prospecting platform that can work alongside any CRM to help brokers save hundreds of hours prospecting and generate more clients.
Every broker gets into the commercial real estate industry the same way, by collecting data. Companies like RealMassive, Xceligent, CompStak and many more are opening up their data for others to see and use. Now innovation can build on what has been collected, rather than having to start from scratch with every new technology.
Rex, a real estate technology company, is aiming to lower the cost of home-selling by using robots and big data instead of commission-based real estate agents. It is seeking to upend the residential real estate by finding likely buyers by ding rigorous analysis of consumers’ income, location, spending habits, and other data and it reaches them through targeted ads on social media and other sites.
The space-sharing arrangement, which in the world of retail real estate is usually referred to as a licensing agreement, is laying the groundwork for retail recovery in form of pop-ups. San Francisco-based Storefront, Williamsburg-based Bulletin, and UK-based, Appear Here are all such startups which have raised funding to focus on short-term pop-ups as rentals and in filling spaces.