Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
PlaceTech.
The Toronto-headquartered global property company has made its third tech investment, this time putting pre-seed funding into a software company focused on streamlining engineers’ designs to reduce material waste.
The New York Times
The wooded campus that once housed the global headquarters of Toys “R” Us in Wayne, N.J., is 85 percent vacant today. On a weekday, the parking spots for 1,900 cars are mostly empty. The helipad is unused. So is the corporate dining hall, with its views of the serene grounds. Hundreds of cubicles — the spacious old-school kind with the high walls, not the little hot desks popular with employers today — sit empty as the property awaits redevelopment into something entirely new….
Online Marketplaces
Latin America is seeing a boom in non-traditional real estate marketplaces and a surge in investor capital to back them. The idea of renting a home directly from a portal might be farfetched to a tenant in Ireland but in Brazil, it’s become commonplace. The idea of paying for a house in cryptocurrency might be laughable for home seekers in New Zealand, but it has become a reality in Mexico.
StrategicCIO
Mike Jackowski and Nag Vaidyanathan met at Allstate in the early aughts, when Jackowski was a divisional CIO and Vaidyanathan was a senior director building the giant insurer’s connected platform. Today, they are the CEO and CTO, respectively, of Duck Creek Technologies, a publicly traded company providing core system solutions to the property and casualty insurance industry. “We have a special relationship,” Jackowski said.
Crunchbase
June was the most active month for tech layoffs so far this year, with at least 75 reports of U.S.-based tech companies initiating layoffs, according to a Crunchbase News analysis of aggregated layoff data. At least 143 U.S. tech companies have laid off more than 24,000 people so far this year, and it’s unclear when the cuts will slow down.
The Real Deal
The giant sucking sound in the home loan industry grew louder Wednesday when Sprout Mortgage told employees it’s going out of business.
JLL Spark
SAN FRANCISCO, Jun. 29, 2022 – JLL Spark Global Ventures, the corporate venture arm of JLL, is marking the fourth anniversary of the launch of its global fund by announcing that it has invested over $340 million across 40+ proptech startups since June 2018.
Equiem
For too long, managing commercial buildings has been complicated by tangled webs of conflicting systems. Now, Equiem One brings TenX, building ops, and analytics together in a single, streamlined package. Workplace Experience innovator Equiem has just announced Equiem One, billed as the next great leap for the industry. The powerful new tool aims to bring every element of the commercial space onto a single, powerful platform that can be shared by every stakeholder within the workplace ecosystem…
CREtech
Join us in New York City on October 12th and 13th for two days of the most exciting in-person event in the world of real estate technology and innovation. No other event brings together so many landlords, asset managers, brokerages, construction companies, tech startups, venture capitals, thought-leaders, and more all under one massive roof.
TechCrunch
YC-backed climate tech startup Pina Earth has closed a $2.5 million seed round of funding a year after being founded and a few months since it presented at the accelerator’s Winter 2022 Demo Day in March.
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