Latest Trends and Insights in Real Estate Technology

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  • MRI Software, a Solon, OH-based provider of real estate management software solutions, received a strategic growth investment of undisclosed amount

    PLACETECH

    What is the Trillion Dollar Hashtag? A brave new flexible world featuring Antony Slumbers In the first episode of a new series of podcast, Caleb Parker founder of Bold, chats to leading property tech commentator Antony Slumbers, about transformation, technology, and innovation. Slumbers travels the world speaking on space-as-a-service and consulting on new changes in technology, micro and macro-economics and changing customer expectations in commercial real estate.

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  • CREtech Weekly PropTech Venture Capital Funding Recap

    CRETech

    DRIVING HEADLINES This week witnessed a variety of mid to large deals in North America and the United Kingdom. The more notable rounds of capital went to companies that improve the property management process within the hospitality sector, alternative sources of finance and credit, and increase flexibility in long-term leases. The largest round went to Nova Credit, a San Francisco based global credit reporting platform designed to solve the credit access problem for immigrants. Nova Credit r…

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  • WeWork’s Marcelo Claure Lays Out Profitability Plan

    THEREALDEAL

    Marcelo Claure said WeWork’s new plan for profitability makes the firm a good investment for SoftBank, but investors still have questions. During an interview with Andrew Ross Sorkin on CNBC, the WeWork executive chairman spoke about the beleaguered office-leasing firm’s future after a series of leadership changes at WeWork and its main investor SoftBank. Claure, executive chairman of the co-working giant, said that in 100 days WeWork had put together a five-year plan to achieve profitability on…

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  • Updater Receives Investment from Second Century Ventures

    FINSMES

    Second Century Ventures, the venture capital arm of the National Association of Realtors®, made an investment in Updater, a NYC-based digital moving concierge company. The amount of the deal was not disclosed. The company intends to use the funds to support growth initiatives, including the acquisition of Bridgevine, a provider of technology for home subscription sign-ups and associated concierge offerings. Bridgevine will become part of Updater’s home services division, helping expand app distr…

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  • Technology is Carving Out Entirely New Industrial Markets

    GLOBEST

    NEW YORK—San Francisco has been a valued marketplace for many different asset types—just not so much industrial. Yet, as Newmark Knight Frank noted in a new report, that is rapidly changing.

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  • SoftBank’s Second Vision Fund Struggling To Attract Investors As First Fund Bleeds Leadership

    BISNOW

    SoftBank Group continues to suffer fallout from the conspicuous missteps of its venture fund. Michael Ronen has stepped down from his position as managing partner of U.S. investments at SoftBank Vision Fund, the Financial Times reports. Ronen said in an interview with FT that he had been negotiating the specifics of his departure for weeks after raising issues he had with the fund. Ronen joined SoftBank in 2017 from Goldman Sachs and has mainly led investments into transportation-based companies…

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  • Impala raises $20 million to build the API of the hotel industry

    TECHCRUNCH

    Impala has raised another round of funding just a few months after raising an $11 million Series A round. This time, the startup is raising a $20 million Series B round led by Lakestar. Latitude Ventures is also participating in the round. The company is building a service that works pretty much like Plaid, but for hotel rooms. The hotel industry relies on old-school “property management systems” to manage rooms, room types, pricing, extras, taxes, etc. Instead of asking hotels to switch to an …

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  • News Corp. Banking on Opcity After Quarterly Revenue Decline

    CRETech

    “Key indicators for the property market are encouraging, and we expect to see improvements at Move [News Corp. owns Move, which is parent company of Realtor.com] in the second part of the year, largely due to the progress at Opcity,” he said. News Corp. acquired Opcity for $210 million in 2018 and rolled it out on Realtor.com last year. Opcity vets leads before it sends them to agents, and also collects a referral fee.

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  • CoStar Group Agrees to Acquire RentPath from Chapter 11 Bankruptcy

    COSTARGROUP

    CoStar Group, Inc. (NASDAQ:CSGP) the leading provider of commercial real estate information, analytics and online marketplaces, announced today that it has signed an agreement to acquire RentPath’s business for $588 million in cash, in connection with RentPath’s recently announced Chapter 11 bankruptcy process. RentPath’s primary service is digital marketing for rental properties through a network of Internet listing websites, including Rent.com, ApartmentGuide.com, Rentals.com and Lovely.com. T…

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  • Prodigy Investors Say They Are In The Dark Over Status Of Their Investments

    THEREALDEAL

    More than five months after the founder of troubled real estate crowdfunding platform Prodigy Network stepped down, investors say the firm has gone quiet about its efforts to turn around faltering projects, leaving millions of dollars in investor funds hanging in the balance.

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