This Week in Proptech - June 4, 2021

Jun 4

Written By CRETI

This week in proptech, approximately $1.03 billion (-26.79%) was invested in real estate technology companies. Globally, 31 (+10.71%) companies announced funding rounds at a median of $17.8 million (+270.83%). Investments ranged across a variety of sectors including residential, insurance, multifamily, and construction.

Notable Rounds

On May 27, 2021, QuintoAndar, São Paulo, Brazila-based rental management comapny, announced a $300 million Series E from Alta Park Capital, Softbank, Maverick Capital, Qualcomm Ventures, and 5 other investors
On May 28, 2021, HomeLight, a San Francisco-based residential real estate company, announved a $150 million debt financing from Credit Suisse.
On June 2, 2021, Spruce, a NYC-based residential title insurance company, announced a $60 million Series C from Zigg Capital, Bessemer Venture Partners and Scale Venture Partners.

What Does This Mean?

Three notable trends stood out this week in proptech. Real estate tech venture captal investments supassed a billion dollars ($USD) for the second consecutive week. Real estate tech startups continue outperform and set VC records as the 2021 fundraising market continues to impress. Median funding was another notable trend. This week in proptech, median funding increased by approximately 270.83% to $17.8 million, the largest gain in 2021. Lastly, venture capital investments in residential and multifamily technology continues to impress. This week, 60% of companies funded in the top 10 were residential and multifamily technology companies, totaling $640 million in venture funding, collectively.