Proptech, also known as property technology, refers to the use of technology to improve and transform the real estate industry. The proptech sector has seen tremendous growth in recent years, with a global market size estimated to reach $168.6 billion by 2023.
Important Trends in Proptech
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iBuyers: iBuyers are companies that use technology to make instant cash offers to homeowners looking to sell their properties. Some of the biggest players in this category include Zillow (USA), Opendoor (USA), and Offerpad (USA).
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Marketplaces: Real estate marketplaces connect buyers, sellers, and renters with each other, providing a platform for transactions to take place. Some of the biggest startups in this category include Realtor.com (USA), Rightmove (UK), and 99 (Brazil).
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PropTech for Commercial Real Estate: Companies in this category focus on providing technology-driven solutions for the commercial real estate industry. Some of the biggest startups include VTS (USA), Squarefoot (USA), and Proptech.com (UK).
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Facility Management: Technology companies in this category provide solutions for managing and maintaining buildings and facilities. Some of the biggest startups include ServiceChannel (USA), Updater (USA), and IWG (UK).
Active Proptech Investors
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Fifth Wall: Fifth Wall is a venture capital firm that invests in proptech startups. The firm has a portfolio of over 50 companies and is one of the largest investors in the proptech industry.
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MetaProp NYC: MetaProp NYC is a venture capital firm and accelerator program that invests in early-stage proptech startups. The firm has a portfolio of over 50 companies and is known for its strong focus on innovation in the proptech sector.
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Andreessen Horowitz: Andreessen Horowitz is a venture capital firm that invests in a wide range of technology startups, including proptech. The firm has a portfolio of over 100 companies and is known for its long-term investment approach.
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Prosperity Real Estate: Prosperity Real Estate is a venture capital firm that invests in proptech startups, with a focus on companies in the Asia Pacific region. The firm has a portfolio of over 20 companies and is known for its strong connections in the real estate industry.