The volume of Proptech financing globally has been on a steady increase and last year alone saw the emergence of four Proptech unicorns: Compass, Homelink, SMS Assist, and OpenDoor Labs, all who reached the coveted $1 billion mark. New York is currently the worldwide Proptech hub; but in Europe, the UK is leading the way although eyes are looking beyond these areas for the future of Proptech.
The Custom Spaces acquisition by CBRE will be of value to tech companies that operate in an incredibly dynamic environment. There are very few real estate advisers like Custom Spaces that both understand the unique requirements of the tech sector and can implement related plans quickly at scale.
Jared Kushner has sold his majority stake in WiredScore, a New York-based real estate tech firm that certifies office buildings for internet connectivity. The buyers are Silicon Valley-based Bessemer Venture Partners—an early investor in LinkedIn, Yelp, Blue Apron and Pinterest—and Fifth Wall Ventures, which invests in real estate technology out of Los Angeles.
The office market has seen plenty of innovation in recent decades, from the rise of real estate investment trusts to online databases like CoStar. But landlords have made little progress in one arena: using new technologies to appeal to tenants.
InHouse Marketing, which offers an online networking and marketing platform for real-estate agents and mortgage lenders, recently concluded a $150,000 private-equity investment round led by The Arizona Founders Fund, with participation from Scottsdale-based Roundsquare Ventures and members of Tucson’s Desert Angels.
Housing investment platform Roofstock, which is an online platform that allows investors to buy single-family rental homes online, raised $35 million in a Series C funding round as it looks to cash in on growing interest in single-family rental housing. The funding round was led by Canvas Ventures, and also included Lightspeed Venture Partners, Bain Capital Ventures, Khosla Ventures, Nyca Partners, QED Investors, and FJ Labs.