Weekly Proptech: Friday, May 6, 2022
This Week in Proptech
Venture capital investments in proptech companies increased by 82.2%. $645 million was invested across 16 companies at a median funding amount of $13 million. Some of the largest rounds of funding went to construction, alternative finance, residential, debt services, and more.
Why This Matters with Navitas Capital
Venture capital investments in proptech companies quickly rebounded by 377.8% after a rocky close to April. In the past few weeks, investment activity has sharply increased as proptech companies continued to announce and disclose funding activity.
What does this mean for proptech?
The most pronounced criticism of the proptech industry has been its general immaturity compared to other markets. Its inability to formulate trends based on historical or empirical data has investors, entrepreneurs, and researchers casting opinions based on general market conditions in the real estate industry. Despite these criticisms, the proptech industry has started to come of age in 2022.
Over the past three weeks, market activity starkly resembled 2021. In fact, the percentage gains and capital allocation were nearly indistinguishable as venture capital investment in proptech companies recovered by 310.2% in 2021.
About CRETI Data
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Notable Rounds
May 3, 2022 — Point, a home equity company, raised a $115 million Series C led by WestCap with investment from Alpaca VC, Andreessen Horowitz, DAG Ventures, Atalaya Capital, and 4 other investors.
May 5, 2022 — Lev, a tech-enabled commercial real estate mortgage platform, raised a $170 million Debt & Equity Series B, led by Cross River and Parker89, with investments from Canaan Partners, JLL Spark, NFX, Capital One Ventures, Citi Ventures, ANIMO Ventures, and 3 other investors
May 5, 2022 — MaterialBank, a construction materials marketplace, raised $175 million Series D led by Brookfield Growth with investments from Fifth Wall.
