Weekly Proptech: Friday, April 1, 2022

This Week in Proptech

Venture capital investments in proptech companies increased by 31.04%. $439 million was invested across 22 companies at a median funding amount of $14.5 million. Some of the largest rounds of funding went to sustainability, data, property management, residential, construction, and others.

Why This Matters

In the past 3 months, week over week investments in real estate technology and innovation-based companies has increased by 270%. 60.4% of total deal volume has gone to early-stage companies, namely Seed and Series A companies, at a median funding amount of $3 million.

What does this mean for proptech?

The great reshuffling of proptech venture capital has been greatly over-exaggerated. In fact, according to several real estate technology investors, there has been little to change to Seed and Series A companies. However, investors have become more selective for companies raising larger rounds, especially Series B and greater. In some cases, investors have mentioned that companies raising later and larger rounds should demonstrate maturity in terms of financial and organizational performance.

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Notable Rounds

• March 30, 2022, Deepki, a sustainability company in commercial real estate, raised a $167 million Series C led by Highland Europe and One Peak Partners with investments from Bpifrance, Statkraft Ventures, and two other investors.

• March 28, 2022, Poplar Homes, a rental property management platform, raised a $53 million Series B led by LL Funds with investments from Zain Jaffer, Jeff Dean, and 2 other investors.

• March 24, 2022, Goodlord, a multifamily rental management platform, raised a $35 million Series B led by Highland Europe with investments from Finch Capital, Oxx, and 2 other investors.