Weekly Proptech: Friday, May 13, 2022
This Week in Proptech
Venture capital investments in proptech companies decreased by 13.3%. $559 million was invested across 17 companies at a median funding amount of $4.95 million. Some of the largest rounds of funding went to residential, construction, wayfinding-navigation, finance, and more.
Why This Matters with Navitas Capital
Venture capital investments in property management technology companies have seen very little attention, compared to the more glittery sectors. However, year to date $1.5 billion has quietly been invested in property management technology companies, a growth of 138% during the same time last year.
What does this mean for proptech?
The property management sector has quietly been going through a technology rebirth. From multifamily and SFR to industrial and office, property management and landlord rep organizations have adopted a tech-enabled strategy to facilitate financial and operational growth. Several catalysts ranging from occupancy and tenant acquisition to cost compression and maintenance have led organizations to think through strategies that increase profit margins, creating opportunities for entrepreneurs to create financial and operational tools to support managers.
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Notable Rounds
May 11, 2022 — Habi, the largest buyer and seller of used housing in Mexico and Colombia, raised a $200 million Series C led by Softbank and Homebrew, with investments from Tiger Global Management, Inspired Capital Partners, Endeavor Catalyst, and 5 other investors.
May 9, 2022 — Ohouse, a residential home goods marketplace, raised a $182 million Series D from Bond, BRV Capital Management, Softbank, Vertex Growth Fund, and 4 other investors.
May 6, 2022 — Backflip, a home-flipping platform, raised a $35 million Seed Round ($8 million equity and $27 million debt) led by Vertical Venture Partners and LiveOak Venture Partners with investments from Revel Partners, Great Oaks VC, and Greg Waldorf, former founding investor and board member at Trulia and Zillow.
