This Week in Proptech - May 28, 2021

May 28

Written By CRETI

This week in proptech, approximately $1.4 billion (+237.6%) was invested in real estate technology companies. Globally, 37 (+19.35 %) companies announced funding rounds at a median of $4.8 million (-43.75 %). Investments ranged across a variety of sectors including residential, insurance, multifamily, and construction.

Notable Rounds

On May 25, 2021, Snapdocs, a San Francisco-based mortage technology company, announced a $150 million Series D round led by Tiger Global Management with investment from Sequoia Capital, Y-Combinator, Wellington Management, Maverick Ventures, F-Prime Capital, and Alkeon Capital.
On May 25, 2021, Matera, a Paris, France-based condo management company, announced a €35 million ($42.6 million) Series B from Bpifrance, Burda Principal Investments, and 3 other investors.
On May 26, 2021, Obie, a Chicago-based multifamily insurance technology company, announced a $10.7 million Series A led by Battery Ventures with investments from Thomvest Ventures, Second Century Ventures, Metaprop, and FundersClub.
On May 27, 2021, Homeward, an Austin-based residential real estate technology company, announced a $371 million Series B that included $136 million in a Series B funding round led by Norwest Venture Partners and $235 million in debt that included Blackstone, Breyer Capital and existing backers Adams Street, Javelin and LiveOak Venture Partners.
On May 27, 2021, QuintoAndar, a Sao Paulo, Brazil-based multifamily real estate technology company, annouced a $300 million Series E led by Ribbit Capital with investments from Softbank, Alta Park Capital, Qualcomm Ventures, Dragoneer Investment Group, LTS Investments, Maverick Capital, and 2 other investors.

What Does This Mean?

Deals dominated headlines this week, as both deal and dollar volume climbed. Deal sizes ranged greatly, between $250 thousand to $300 million. However, Europe and Latin American real estate tech market continues to gain momentum as approximately $57 million (Europe) and $301 million (LatAM) was invested in companies this week. Based on market feedback, we anticipate venture activity in both Europe and LatAM to perform at on or about record levels for the remainder of the year, with a focus on mid to late stage venture activity.