This Week in Proptech - June 11, 2021

Written By CRETI

This week in proptech, approximately $525 million (-49.30%) was invested in real estate technology companies. Globally, 21 (+32.26%) companies announced funding rounds at a median of $24.9 million (+39.89%). Investments ranged across a variety of sectors including construction, finance, residential, and commercial.

Notable Rounds

  • On June 10, 2021, Flyhomes, Seattle, Washington-based residnetial cash offer company, announced a $150 million Series C from Andreessen Horowitz and 7 other investors.

  • On June 10, 2021, Nesto, a Montreal, Quebec-based mortgage technology company, announced $64.3 million Series B from Breyer Capital and 5 other investors

  • On June 7, 2021, Briq, a Santa Barbara, California-based construction finance company raised $30 million Series B from Blackhorn Ventures and 2 other investors

What Does This Mean?

Residential real estate technology continues to perform beyond market expectations. Digitization in residential real estate is happening all along the value chain. This week, VC’s invested $446 million in residential real estate tech, representing 85% of total venture activity. The areas that recevived the most capital included alternative sources of finance, tech-enabled mortgage, home sales, and furnishing.

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CRETI https://cretiventures.com
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