Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
CREtech+
In the final installment of Embracing a New Era of Tech in CRE, Michael Rudin opens up about market forces he is most mindful of when looking at his future innovation strategies and what he’s most excited about for the future of CRE tech.
Forbes
The way we engage with multifamily real estate is changing. Covid-19 may have expedited the process, but a digital transformation was taking place long before we all “went virtual” in March of 2020. That’s because of proptech. The rising popularity of property technology is a strong driver for change in the multifamily sector, propelling us swiftly on a path to a more human-centric, thoughtful future for building ownership, management and residents alike. Let’s take a look.
Government Technology
Populus, a startup whose software helps cities manage streets, micromobility and curbs, has raised $5 million from investors. The company’s fundraising comes after it launched a new solution, Street Manager, last year. That tool was meant to help cities plan and enforce shared streets, slow streets and other closure programs. On top of that, Populus delivers data on things such as e-scooter trips and curb parking demand….
The Real Deal
Bolstered by a housing boom and uptick in construction, Procore filed an updated S-1 registration statement on March 2. In the filing, the company said its revenue grew 38.4 percent last year to $400.3 million.
TechCrunch
For years, there was a debate as to whether WeWork was a tech company or more of a real estate play. At first, most people viewed WeWork as a real estate startup disguised as a tech startup. And as it kept scooping up more and more property, the lines continued to blur. Then we all watched as the company’s valuation plummeted and its IPO plans went up in smoke.
The Real Deal
The two partners, who last year raised $115 million for their New Beginnings Acquisition Corp. blank check company, filed initial public offerings for two more companies, New Beginnings Acquisition Corp. II and New Beginnings Acquisition Corp. III, each targeting $100 million raises.
Bisnow
Milken Institute, a Santa Monica, California-based nonprofit that focuses on issues related to human, financial and social capital, recently published its Best-Performing Cities 2021 report that detailed the nation’s top growth nexuses with Provo-Orem, Utah, ranking as the top-performing large metro area with a population over 100,000.
Wall Street Journal
Investors who bet against stocks are targeting special-purpose acquisition companies, one of the hottest growth areas on Wall Street. The dollar value of bearish bets against shares of SPACs has more than tripled to about $2.7 billion from $724 million at the start of the year, according to data from S3 Partners.
PR Newswire
NEW YORK, March 11, 2021 /PRNewswire/ — Occupier, a company that helps businesses navigate the complexities of managing a portfolio of real estate leases, and ensure compliance with new accounting standards, has finalized a funding round of $5M. The round is led by Alate Partners and MetaProp, with participation from Second Century Ventures, Thomson Reuters Ventures, and commercial real estate industry leaders across the U.S….
AXIOS
You may never have heard of Jack Ryan, but if he succeeds, it could cost you a lot less to buy and sell a home. Why it matters: The deep-pocketed CEO of a disruptive real estate brokerage called REX, Ryan contends that inflated commissions are sapping Americans’ nest eggs and pushing homeownership out of reach — and he’s backing a major campaign against the establishment.
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