- Real-estate tech companies squeeze inefficiencies out of construction, home-buying, and other areas.
- VCs invested a record $32 billion into these property technology, or proptech, startups last year.
- We surveyed venture capitalists to select 28 of the hottest proptech companies right now.
The pandemic has changed the landscape of the real-estate world and revealed a new set of challenges.
A new crop of property-technology, or proptech, startups is making noise by attacking some of those challenges head-on.
Insider reached out to more than 20 venture investors who focus on real-estate and construction technology to ask for their nominations of the proptech startups best positioned to address the shortcomings of the industry or that are tackling trends exacerbated by the pandemic. Among those trends are soaring home prices, a broken supply chain, a house-flipping craze, and a growing work-from-home culture.
There’s no shortage of funding. Venture-capital investments in private real-estate-technology companies hit a record $32 billion in 2021, up 28% from the previous year, according to the Center for Real Estate Technology & Innovation. Proptechs dedicated to the steamy residential sector drew nearly half the total funding, by far the largest single share of the pie.
Last year’s list taught us that obstacles lead to innovation, creating new breeds of companies in the real-estate industry. We compiled this list of 28 startups after evaluating the VC nominations.
We used the companies’ self-reported fundraising numbers, but added in Crunchbase data as a supplement for firms that declined to comment. We asked each startup for its valuation and revenue, but many declined to share that information as they seek additional funds.
Here are the buzziest proptech companies right now, presented in alphabetical order.