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PropTech Thrives in 2021

PropTech Thrives in 2021
January 25, 2021

The Daily Stack is a daily private market insights newsletter by PrivCo, a private company intelligence platform. Read our previous insights.
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Tech-enabled companies are swarming the property and real estate markets and the reason is not only because there is increasing demand, but also because there has been limited innovation in the space to date. With the rise of the Internet, we have seen online aggregators like Zillow help consumers find suitable homes to purchase or rent. With more advanced technology, PropTech has expanded from reimagining construction processes to offering end-to-end customer solutions for residential transactions.


Credit: Unsplash

  • Compass is a New York-headquartered real estate technology company that aggregates property listings and also provides an end-to-end platform to support the buying and selling workflow. With increasing home sales, Compass has benefited from the pandemic and confidentially filed its S-1 to go public this month.
  • OpenDoor operates a marketplace for buying and selling homes, directly with homeowners. The company offers direct cash payment to the seller and then makes renovations and repairs to the home before it is sold on the OpenDoor marketplace. The San Francisco-based company went public in December 2020 via a SPAC, merging with Social Capital Hedosophia II.
  • Built Technologies powers the construction industry, using technology to streamline the construction lending process. The company is headquartered in Nashville, Tennessee, and raised its B round funding in 2019 with investors, including Goldman Sachs. 
  • Qualia is a digital real estate transaction management company that helps simplify the real estate closing process. Founded in 2015 in San Francisco, the company entered the unicorn club recently when it secured its D round of funding, led by Tiger Global Management. With the funding, the company also acquired Adeptive Software, a company that is known for its complimentary title and escrow production software.
  • RentPath operates a number of brands focused on rental properties for consumers. The company had announced it would be acquired by CoStar Group at the beginning of 2020 after filing for Chapter 11 bankruptcy. The acquisition was unsuccessful after the FTC moved to block the decision citing the lack of competition post-merger. 
  • Yardi Systems offers asset and property management software for property owners to manage leases and collect rent. The company was founded in 1984 in Goleta, California, and has operations around the world.
  • Saltbox operates in the property space by focusing on warehouses. The WeWork of modern eCommerce, the company rents out spaces to eCommerce companies marrying co-working with raw warehouse space. The company was founded in 2019 out of Atlanta, Georgia.
Lyft’s New Priority Mode Doesn’t Sit Well 
Lyft’s new test program is attracting media attention for all the wrong reasons as it takes 10% more pay from drivers in exchange for more rides.
[Cnet]
Tesla’s Chinese Rival Ramps up EV Battery Production
Xpeng has set up a manufacturing business to bring auto parts in-house.
[FutureCar]
Since last week, PrivCo has added:
806 Companies | 230 Funding Activities | 158 M&A Deals

Funding & Deal Highlights:

Deliveroo raises $180MM co-led by Fidelity Management & Research Company and Durable Capital Partners
Software & Internet Services • Round H • London, UK

PPRO Financial raises $180MM 
Specialty Finance • Equity • London, UK 

TripActions raises $155MM co-led by Andreessen Horowitz and Elad Gil
Travel Software & Internet Services • Round E • Menlo Park, CA 

Oqton raises $40MM led by Sandvik AB, Pmv BV & Fortino Capital
AI Software & Internet Services • Round A • San Francisco, CA

Lumiata raises $14MM
Health Care Software & Internet Services • Round B • San Mateo, CA

Mosaic Finance raises $18.5MM led by General Catalyst Partners
Fintech Software & Internet Services • Equity • Encinitas, CA

Everlywell raises $75MM led by HealthQuest Capital
Health Care Products • Equity • Austin, TX

Maps.me raises $50MM led by Alameda Research
Crowdsourcing Software & Internet Services • Equity • Mountain View, CA

Caring Brands International acquires Interim healthcare 
Health Care Providers • Acquisition • Fort Lauderdale, Florida

Bridges Consumer Healthcare acquires Clarion Brands
Consumer Products • Acquisition • Feasterville Trevose, Pennsylvania

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