Weekly Proptech: Friday, April 15, 2022

This Week in Proptech

Venture capital investments in proptech companies increased by 99.56%. $449 million was invested across 12 companies at a median funding amount of $7.7 million. Some of the largest rounds of funding went to commercial property management, finance, construction, residential, and others.

Why This Matters

Entering 2022, the red hot housing market has been a focus of the Federal Reserve. The lack of supply and pandemic-specific factors have driven housing prices to record highs. Goldman Sachs projects home prices will rise 16% between Oct. 2021 and Oct. 2022.

Canada's red hot housing market is also in overdrive as housing affordability sinks. Similar to the US, there aren't enough homes for sale to meet demand. In an effort to tame prices, Canada is freezing out foreign homebuyers for two years.

What does this mean for proptech?

Venture capital investments in housing tech have been amongst the highest in the sector. However, single-family construction and renovation are emerging subsectors that have gained serious traction over the past few years.

Amongst the CRETI Residential Index, a collection of funded companies in residential real estate tech, $1.813 billion has been invested across 77 companies solving for housing affordability in residential multifamily and construction in the US and Canada, year to date.

About CRETI Data
Year to date, CRETI has indexed over 400 proptech companies. To access insights and customized venture capital research services, please contact us.

Notable Rounds

• April 12, 2022 — PassiveLogic, an autonomous buildings platform, raised a $15 million Venture Round from Brookfield Growth.
  

• April 13, 2022 — RentRedi, an end-to-end landlord software that streamlines self-management of rental properties, raised a $12 million Series A led by K1 Investment Management with investments from Tribeca Early Stage Partners, TIA Ventures, and RiverPark Ventures.
  

• April 11, 2022 — Blend, a peer-to-peer lending platform in the UK, raised $170 million Venture Round from Cyrus Ardalan and 3 other investors.