Weekly Proptech: Friday, August 26, 2022

Written By CRETI
 
 
 

This Week in Proptech

This Week in Proptech — $209 million was invested across 16 companies at a median funding amount of $5 million. Some of the largest funding rounds went to property management, residential, multifamily, construction, and other proptech companies.

Proptech Venture Capital in a Nut Shell: This week, proptech venture capital activity decreased across the board. Investments in proptech companies decreased by 67.6 percent. The median funding amount also took a hit, with median funding decreasing by 75 percent.

Why Does This Matter?

The second quarter of the proptech venture capital industry hasn't been pretty. Moderate investments have been an ongoing theme since July, resulting in $2.4 billion invested in proptech companies, a 57.1 percent decrease in funding. Despite the economic challenges, VCs and tech investors are not in hibernation.

What Does This Mean For PropTech?

If you're an entrepreneur or an LP in a proptech fund, the market isn't as bad as it could be. As investments in letter rounds continue to be competitive, a trend to watch for is early-stage investments, specifically mid and late-stage investors coming down to Seed and Series A rounds. In fact, 35 percent of all venture activity went to Seed rounds in August, a 6.1 percent increase compared to August 2021.

CRETI PROPTECH VENTURE INDEX

CRETI Proptech Index
The CRETI Proptech Index is a private market real estate technology index tracking the financial performance of the proptech industry. It is the most followed proptech venture capital indices, globally. Contact us to learn more.

EVENTS

The Great Automation of Industrial Real Estate
Industrial real estate is undergoing a massive transformation, with a raft of new technologies and innovations being implemented across the sector. These include robots in warehouses, integrations for drone delivery, and flexible space that allows for nimbler and more efficient use. Leaders from Prologis, now the largest industrial REIT in the world, and industrial flex-space provider Saltbox will talk about how new innovations are changing the landscape for industrial and where they may be headed in the future.

Notable Rounds of Funding

  • August 23, 2022 — VendorPM, a Toronto-based vendor management platform, raised a $20 million Series A led by Prudence with investments from Bessemer Venture Partners, Navitas Capital, Alate Partners, Colliers, RXR, Dick Costolo (Former CEO of Twitter), Mark Rose (Chair & CEO of Avison Young) and 10 other angel investors.

  • August 25, 2022 — Flyway, a London-based second home ownership platform, raised a $10 million Seed round from Signal Ventures, Monday Capital, Group RMC, and 2 angel investors.

  • August 25, 2022 — Landing, a Birmingham, Alabama-based flex apartment rental platform, raised a $125 million Series C (Debt-Equity round) led by Delta-v Capital with investments from Greycroft and Foundry.

 
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