Weekly Proptech: Friday, May 20, 2022
This Week in Proptech
$425 million was invested across 21 companies at a median funding amount of $9 million. Some of the largest rounds of funding went to construction, flex office, residential, climate, alternative finance, and more.
Why This Matters
At the onset of Tiger Global slashing bets on tech groups after stock market sell-off, chatter about valuation and investments in technology companies has increased amongst the public equities, venture capital, and technology market. Most recently, YC advises founders to ‘plan for the worst’ amid market teardown.
However, the decline of venture capital investments and valuations have been greatly overexaggerated. While the public equities market and technology companies are shoring up their balance sheet in the wake of an expected shock to the financial system, venture capital investments in real estate-related technology companies continues to be a bright spot in the industry, especially across climate, residential, construction and industrial.
In fact, in the past 4 weeks, $1.98 billion has been invested in proptech companies at an average funding growth rate of 14.97%.
What does this mean for proptech?
The great reshuffling of proptech venture capital has been greatly overexaggerated. In fact, according to the CRETI snapshot survey, a survey administered randomly to 30 proptech venture capitalists, investors have seen little to no change in early-stage investing. However, 52% of investors have become more selective for companies raising larger rounds, especially $15 million and greater.
About CRETI Data & Insights
CRETI has indexed over 9,000 proptech companies. To access insights and customized venture capital research services, please contact us.
Notable Rounds
May 17, 2022 — Buildots, an AI construction tech company, raised a $60 million Series C led by O.G. Tech and Viola Growth, with investments from TLV Partners, Maor Investments, Lightspeed Venture Partners, and Future Energy Ventures.
May 16, 2022 — FlipOS, a residential iBuying company, raised a $50 million Venture Round from Zeev Ventures.
May 20, 2022 — Belong, a single-family rental and management company, raised a $80 million Series C (venture & debt) led by Fifth Wall with investments from Andreessen Horowitz, Battery Ventures, and GGV Capital.
