Weekly Proptech: Friday, April 22, 2022
This Week in Proptech
Venture capital investments in proptech companies decreased by 69.93%. $135 million was invested across 11 companies at a median funding amount of $5 million. Some of the largest rounds of funding went to residential, adult housing, decarbonization, multifamily-hospitality, and more.
Why This Matters
This week marks the second-lowest in proptech venture activity. While this isn't a cause for alarm, over the past 5 weeks, investment activity has been at/or below the CRETI Proptech Median Funding Index. In fact, this week's venture capital investments were 71.15% below median funding.
What does this mean for proptech?
83% of proptech companies that raised this week were Seed and Series A based companies. Early-stage companies have seen a rise in venture activity over the past 30 days. In fact, since the startup of Q2, 49% of all proptech funding has gone to early-stage companies at a median funding amount of $6.8 million.
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 20, 2022 — TULU, a multifamily tenant amenity platform, raised a $20 million Series A led by New Era Capital Partners with investments from Round Hill Ventures, Aviv Growth Partners, Robert Bosch Venture Capital, Tal Ventures, and Infinity Ventures.
April 21, 2022 — Kindred, a home swapping hospitality company, raised a $7.5 million Seed Round led by Andreessen Horowitz with investments from Bessemer Venture Partners, Caffeinated Capital, and angel investors Elad Gil, Opendoor CEO and co-founder Eric Wu, ClassPass founder Payal Kadakia, Clubhouse co-founder, and CTO Rohan Seth and Adena Hefets, co-founder and CEO, Divvy Homes
April 20, 2022 — Wheelhouse (Lyric), a short-term rental company, raised a $16 million Series A led by Highgate Ventures and New Enterprise Associates, with investments from Fifth Wall, Certares, RXR, SignalFire, and PAR Capital.
