Real estate tech company RealPage hit by $10.5M hack
THEREALDEAL
Texas-based property management software provider RealPage was the target of hackers who stole $10.5 million from the company’s accounts, according to local media.
Latest Trends and Insights in Real Estate Technology
Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
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Tribe Theory Grabs $3.5 Mn From Tim Draper To Form Its International Division
INC42
Venture capitalist Tim Draper has invested $3.5 Mn in Tribe Theory, an international entrepreneur-focused hostel chain. The hostel chain was founded by Vikram Bharati in Singapore and came into India with the acquisition of Construkt Startup Hostels founded by Shashikiran Rao and Karan Bahadhur. With this, the existing hostel will rebrand to Draper Startup House (DSH), which is an expansion of Tim Draper’s global brand that also includes Draper Venture Network, Draper Associates and Draper Unive…
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CREtech Weekly PropTech Venture Capital Funding Recap
CREtech
This week witnessed several relatively large deals across a variety of countries, where deals in Europe and North America dominated headlines. The majority of this week’s capital went to companies that transform the hospitality and micro mobility industries. Investments also focused on companies that digitize the traditional buying and selling process through app design and online marketplaces. The largest round went to Bird, a Berlin and Santa Monica-based electric scooter and bike company. Bi…
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Knox Financial Brings in $3 Million in Seed Funding
AMERICANINNO
Knox Financial, the eight-month-old Boston startup that turns homes into investments by renting them out for the owners, has raised $3 million in seed funding led by Greycroft with participation from Pillar VC. The money will help propel Knox’s expansion into new markets over the next 12 months. Launched in Boston last March with $1.4 million in seed funding, Knox’s pilot program had the company overseeing 30 properties in Greater Boston by November.
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Online markets are biggest disruptor in property, Altus survey finds
PLACETECH
Six out of 10 senior executives in the world’s biggest real estate firms believes the rise of platforms that cut out agents and other intermediaries will cause major disruption in the years ahead. Software giant Altus Group surveyed 400 senior executives at some of the world’s largest real estate firms, each with at least $250m assets under management and representing a total AUM of more than $2tn. The findings reveal the expectations of the industry’s leaders on the impact of disruptive tech…
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FUTURE PropTech To Spotlight Digital Transformation in the Construction Sector
CRETECH
FUTURE PropTech, part of the World’s number one real estate technology event series, has announced a new CONTech Pavilion for the 2020 London show. As the convergence of smart buildings, digital twins, BIM, AI, robotics and other technologies become commonplace, The ConTech Pavilion will provide a dedicated meeting point for the leading solutions providers, world class speakers and VCs focused on digital transformation within the construction sector. The pavilion will include a stage with a d…
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How PropTech Startups Can Move the Needle in 2020
GETJONES
2019 was a riveting year for PropTech. Venture investments peaked at $25BN (double that of 2018), acquisitions picked up (a handful at >10x revenue multiples!), unicorns emerged (VTS), and valuations hit new highs. While one PropTech titan wound down its IPO (WeWork), another is getting ready for the hottest IPO of 2020 (AirBnB). The cycle is hitting a dizzying pace. Five years ago, when we both entered the space, the term “PropTech” would earn you confused looks from techies and real estate …
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Ben Lerner, Managing Director, Lerner Associates to Moderate Mergers & Acquisitions Panel at Upcoming CREtech Austin Conference
CRETECH
CREtech (cretech.com), the leading global conference and research company devoted to innovation in the Built World, will be showcasing a panel of the most active companies in the real estate tech M&A space at its first event in 2020. To be held in Austin, Texas on April 22nd and 23rd, the panel will be moderated by Ben Lerner, Managing Director, “Real Estate” Tech M&A, Lerner Associates., one of the leaders in the sector. Ben has 18 years of experience working in the real estate software…
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Compass to lay off marketing, IT and M&A staffers
THEREALDEAL
Compass is laying off up to 40 employees across its IT, marketing and M&A teams, the company confirmed Monday. Sources said the move, which is taking place this week, is part of a broader reorganization as the SoftBank-backed company consolidates roles that service agents. The sources said Compass will create a new team called the “Agent Experience Team” to replace teams of employees who onboarded new agents, train them on the Compass platform and staff the IT help desk. The cuts are taking …
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Coworking Operator Embraces New Model As It Expands Across U.S.
BISNOW
Coworking firm Serendipity Labs is gearing up for expansion in 2020, and that growth looks a great deal different than its giant competitor, WeWork. The Rye, N.Y.-based company is pivoting to an entirely franchise-based model as it enters six new markets in 2020, adding 130K SF to its national coworking network, mostly in secondary and tertiary markets WeWork and other national operators are overlooking.
