Weekly Proptech: Friday, April 29, 2022
This Week in Proptech
Venture capital investments in proptech companies rebounded by 162.22%. $354 million was invested across 14 companies at a median funding amount of $16 million. Some of the largest rounds of funding went to residential, multifamily, alternative energy, IoT and more.
Why This Matters with Navitas Capital
Housing affordability has reached a fever pitch. The systemic issue, impacting the US, has catapulted to the forefront of public conversation. In fact, housing prices in the US have outpaced income growth for decades. Price growth has been the result of ongoing trends in supply, demand, and financing that have been long brewing, but that have seen recent inflection points, many of which were aggravated further by COVID-19, according to insights by Navitas Capital.
What does this mean for proptech?
Given the saliency of housing affordability, it’s unsurprising that a large crop of start-ups has emerged with the goal of tackling it. In this series, we will focus on residential start-ups that impact how homes are built, transacted, or operated — while acknowledging that other approaches that touch on policy and regulation, mobility, education, economic development, personal finance, income/wealth inequality, and other facets of the problem are also addressing affordability.
In the proptech market, Navitas is seeing approaches in three general categories:
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Notable Rounds
April 27, 2022 — Sense, a home automation platform, raised a $105 million Series C led by Blue Earth Capital with investment from iRobot, Energy Impact Partners, My Climate Journey Collective, Prelude Ventures, Schneider Electric, and TELUS Ventures.
April 22, 2022 — Pinhome, a property transaction platform, raised a $50 million Series B, led by Goodwater Capital, with investments from Alto Partners, Eurazeo, Global Founders Capital, Insignia Ventures Partners, Intudo Ventures, Iterative Venture, and Ribbit Capital.
April 25, 2022 — TheGuarantors, a multifamily fintech company, raised $50 million Series C led by Portage Ventures with investments from Alven, Roosh Ventures, Kensington Capital Ventures, and Arch Capital Group.
