Weekly Proptech: Friday, June 24, 2022

Written By CRETI
 
 
 

This Week in Proptech

$387 million was invested across 22 companies at a median funding amount of $4.5 million. Some of the largest rounds of funding went to commercial capital markets, residential, insurance, alternative finance, architecture & design, and more.

Why Does This Matter?

The global venture capital industry is on the fritz. From letters to startups about hoarding cash to layoffs to sustain an economic crash, the venture capital industry has been going through a rollercoaster 🎢 of emotional 😭 damage, except for proptech investors 😝.

Keep calm 😌 and carry on.

In June, venture capital investments in private real estate technology companies is on track to surpass $1.37 billion in global funding. Despite macro-economic and geopolitical headwinds, investments in entrepreneurs and innovators in the real estate industry is on pace with levels similar to 2021.

What Does This Mean For Proptech?

There's a fairly linear relationship between what's going on in real estate and what's going on in the world of proptech venture capital investing. When a real estate sector surges, for example, single-family residential, so does innovation in the sector. But there's more than just an increase in funding that's aiding the proptech VC world right now.

Regardless of how you look at it, it's a win for innovation and entrepreneurship in real estate. So, keep calm and carry on.

CRETI Venture Capital Index

CRETI Proptech Index
The CRETI Proptech Index is a private market real estate technology index tracking the financial performance of the proptech industry. It is the most followed proptech venture capital indices, globally. Contact us to learn more.

TOGETHER WITH Moderne Ventures

Moderne Ventures is now accepting applications for its 2022 Midyear Passport class!

The Moderne Passport is a 6-month industry immersion program. We help proptech companies refine and execute their go-to-market strategies, connect with members of the Moderne Network™ - access to 700 corporations and executives in the real estate industry, and provide mentorship, pilot, and investment opportunities.

Notable Rounds of Funding

  • June 21, 2022 — Openly, a Boston, MA-based insurance company that specializes in premium home insurance sold through independent agents, raised a $75 million Series C led by Advance Venture Partners with investments from Techstars, PJC, Obvious Ventures, MTech Capital, Gradient Ventures, and Clocktower Technology Ventures.

  • June 21, 2022 — Huspy, a Dubai, UAE-based proptech company that simplifies the home financing process, raised a $37 million Series A led by Sequoia Capital India with investments from VentureSouq, VentureFriends, Founders Fund, Fifth Wall, COTU Ventures, Chimera Capital Management, BY Venture Partners, and Breyer Capital.

  • June 21, 2022 — Join, an Oakland, CA-based decision-making platform for architecture, engineering and construction, raised a $16 million Series A round led by SignalFire with investments from Ironspring Ventures, Metaprop, Building Ventures, and Standard Investments.

UPCOMING EVENTS

CREtech, the largest international community of professionals devoted to technological innovation in the real estate sector, announced today that speakers from Blackstone, Hines, Ivanhoe Cambridge and Tishman Speyer will join the speaker lineup for CREtech’s flagship event and largest real estate technology conference, CREtech New York, taking place this October 12-13.

  • John Fitzpatrick, Senior Managing Director, Blackstone

  • Ilene Goldfine, Chief Digital Strategy Officer, Hines

  • Rob Simpson, Senior Director, Sustainability, Ivanhoe Cambridge

  • Jonathan Flaherty, Global Head - Sustainability and Building Technology Innovation, Tishman Speyer

 
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Weekly Proptech: Friday, June 17, 2022