Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
CNBC
The Covid delta variant is not stopping travel company Vacasa from going public. Riding the vacation rental boom, Vacasa is set to go public this fall through a merger with TPG Pace Solutions, a special purpose acquisition company. The $400 million transaction would give the Portland, Oregon based company a $4.5 billion valuation.
Travel + Leisure
The rise of the digital nomad has never been stronger. In 2020, nearly 11 million Americans identified as digital nomads, up from 7.3 million in 2019. Though millions more people can now live and work from anywhere, they will need a place to stay. Sentral, a network of urban residential communities, is hoping to fill that gap. In July, Sentral launched a “new category in flexible living that redefines the way people live, travel, and work.” This new category, called Home+, “combines…
CREtech
Winners get stage time at CREtech New York or CREtech London this fall! Apply by midnight to the 8th Annual Real Estate Tech Awards (RETAS). Applications take 10 minutes!
The Real Deal
Will Smith and a company backed by Jay-Z are betting on a startup that seeks to make homeownership easier to obtain. Will Smith’s Dreamers VC and a company backed by Jay-Z’s Roc Nation participated in a $165 million capital raise for Landis, which seeks to help renters become owners. The funding round was led by venture capital firm Sequoia Capital and included debt and Series A equity financing.
Bridgit
TORONTO, CANADA, JULY 28, 2021 – Bridgit, the leading construction workforce intelligence technology company, announced today that Multiplex Construction Canada Ltd. (Multiplex) has successfully implemented and launched Bridgit Bench across their Canadian operations. Bridgit Bench enables Multiplex to enhance their workforce planning, pursuit tracking, and scenario running. Established in Australia in 1962, Multiplex has delivered over 1,000 projects around the world, with more than…
Blackstone
New York, July 27, 2021– Blackstone (NYSE:BX) announced that Stevi Petrelli has joined the firm as Head of Blackstone Innovations Investments (BXI Investments) where she will be responsible for overseeing the firm’s internal investments in early-stage PropTech, Enterprise Tech, Cybersecurity and FinTech companies. She has joined as a Managing Director and, in this newly created role, will work across Blackstone’s Technology & Innovations, Growth, Real Estate, Private Wealth Solutions and Fin…
Bloomberg
At-Bay Inc., an insurance startup focused on cyber coverage, raised $185 million in a funding round that valued the company at $1.35 billion. Icon Ventures Inc. and Lightspeed Venture Partners led the round, which brought At-Bay’s total funding raised to $272 million, the company said Tuesday in a statement. The startup also said it will add Icon’s Preeti Rathi to its board. Large, frequent ransomware attacks in the past year have spurred many insurers to pull back on coverage or raise pri…
Bisnow
During its annual I/O event in May, Alphabet Inc.’s Google showed off Starline, a high-tech video chat system that brings depth and lifelike reality to on-screen conversations. Other tech giants have similar ideas: WeWork has begun rolling out a hologram chat system in select New York, Los Angeles and Miami locations, while Microsoft has launched Microsoft Mesh, a smart glass-compatible means of showcasing 3D images of people during a conversation. These different spins on the sci-fi premise …
The Real Deal
The proptech revolution is accelerating as building operators turn to big data to monitor everything from tenant relations to their properties’ energy use. “Companies are making every piece of information available to every single person in the organization,” Anita Kramer, senior vice president at the Urban Land Institute Center for Capital Markets and Real Estate, said in an interview. “That’s powerful.”
CREtech+
Marat Safir, Co-founder of TMG, discusses how he relied on tech to evolve during the pandemic, and his current focus on customer-centric technology.
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