This Week in Proptech - July 9, 2021

Written By CRETI

This week in proptech, $889 million (+58.5%) was invested in real estate technology companies. Globally, 26 (-18.75) companies announced funding rounds at a median of $10.8 million (-1.82%). Investments in real estate tech ranged across a handful of sectors, including industrial, sustainability, and multifamily.

Notable Rounds

  • On July 7, 2021, Entrata a Utah-based multifamily property management company, raised a $507,000,000 private equity round from Silver Lake, Dragoneer Investment Group, Josh James, Ryan Smith, and Todd Pedersen.

  • On July 7, 2021, CASAFARI, a Lisbon Portugal-based residential agent company, raised a $15,063,978 Series A led by Prudence Holdings with investments from Armilar Venture Partners (the Portuguese VC behind unicorns Outsystems and Feedzai), HJM Holdings, 1Sharpe (founders of Roofstock) and FJ Labs (Fabrice Grinda, founder of OLX Group), as well as existing investor Lakestar.

  • On July 7, 2021, Svante, a British Columbia, Canada-based carbon capture company raised a $20,049,817 round from Net Zero Accelerator.

What Does This Mean?

This week in proptech, the biggest takeaway was Entrada's $507 million private equity round. The financing round catapulted the company to unicorn status after bootstrapping for nearly 18 years.

The round was led by Silver Lake and the family offices of Qualtrics co-founder Ryan Smith and Vivint cofounder Todd Pedersen, with Dragoneer and Domo founder Josh James among others participating. The company declined to comment on its valuation, but cofounder Dave Bateman maintains majority ownership of the business, the company said, meaning that Entrata is now valued at more than $1 billion.

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