RE/MAX acquires tech startup First
INMAN
First is a machine learning-based platform that helps agents know when to reach out to consumers in their existing network.
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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Sapphire Ventures Raises More than $1.4B to Support Entrepreneurs in Building Category Leaders
SAPPHIREVENTURES
I’m proud to announce that Sapphire Ventures has raised more than $1.4 billion in new capital commitments, bringing our total assets under management (AUM) to almost $4 billion. You can read the full announcement here. This larger capital commitment gives us the flexibility to support more entrepreneurs who are building what we call Companies of Consequence: visionary companies that seek to change the way we work and live. We believe the added capital enables Sapphire to: Differentiate even more…
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CREtech Weekly PropTech Venture Capital Funding Recap
CRETECH
This week was a relatively slow week in in real estate tech venture capital, with multiple deals in insurance, construction and investment management technologies. The largest deals took place in the insurtech and lease process management categories. In Europe, wefox Group, the Berlin-based insurtech company, has boosted its Series B to $235M after closing an additional $110 million. In the US, States Title, a San Francisco based company that uses machine intelligence to create seamless title a…
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The PropTech Report: An Open Frontier For Hardware Entrepreneurs
ALLEYWATCH
Two constants have guided my professional life: venture capital and real estate. Every year, I eagerly await to see which portfolio will produce greater returns. Today, in the words of the great (fictional) New Yorker George Louis Costanza, “Worlds are colliding!” Enertiv, a New York Angels investment, keeps growing with an impressive client list of property managers and building owners. The smart building hardware startup is the latest in a slew of new property technology (PropTech) innovatio…
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This company will turn your garage into an apartment for free—and help you rent it out
FASTCOMPANY
In Los Angeles, rising rents are forcing people to leave the city and exacerbating the area’s homelessness crisis. The county needs more than half a million new units of affordable housing to meet demand. A new startup, called United Dwelling, wants to take advantage of the county’s 250,000 underused two-car garages (and its hundreds of thousands of backyards) to tackle the problem—making a deal with homeowners to build a new apartment on their property for free, managing rentals, and then split…
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Why you won’t own a home the way your parents do
MEDIUM
When thinking about venture investable opportunities, it comes as no surprise that housing and residential real estate are particularly interesting for us at OMERS Ventures. The sum total value of all the houses in America was valued at $33.3 trillion in 2018, representing a 49% increase from 2012.[i] There are 139 million[ii] housing units in the US and six million were purchased in 2018 (11% newly built).[iii] The median home price in October 2019 was $270,900, up 6.2% compared to October 2018…
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WeWork in Talks to Sell Unit for a Lot Less Than It Paid 8 Months Ago
BLOOMBERG
WeWork, seeking to cut costs and unload assets, is in discussions to sell one of its business units for less than a quarter of the price it paid eight months ago, according to people familiar with the talks. A group of investors and technology executives are negotiating a purchase of the Managed by Q unit from WeWork that would value the software business at less than $55 million, said the people, who asked not to be identified because the negotiations are private. Dan Teran, a founder of Ma…
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Convene Expands Partnership with Sterling Bay to Three Chicago Properties
GLOBEST
Workplace services company Convene reports that it has entered a managed service agreement with Sterling Bay for 22,000 square feet at the One Two Pru office complex in the South Loop here. The deal expands the Convene-Sterling Bay workplace services partnership to three Chicago properties. Under the terms of the deal, Convene will manage the building’s meeting and amenity experience on the 11th floor of the 2.3-million-square-foot development, including meeting and event space, a tenant lounge,…
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Google, Amazon, and Apple join forces to develop IP-based smart home connectivity standard
VENTUREBEAT
Google, Amazon, Apple, and other technology companies have teamed up to develop a smart home connectivity standard that makes it easier for software and devices to play ball across the smart home ecosystem. Connected Home Over IP, as the new working group is called, will be spearheaded by the Zigbee Alliance, a group of companies that develop and maintain the ZigBee standard, which enables close-proximity devices (e.g., light switches, smart speakers, locks) to talk to each other in the home.
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AT&T’s 5G network goes live in 10 cities
SMARTCITIESDIVE
AT&T announced last week its 5G network has gone live in 10 U.S. cities. The network is available for users in Birmingham, AL; Indianapolis; Los Angeles; Milwaukee; Pittsburgh; Providence, RI; Rochester, NY; San Diego; San Francisco; and San Jose, CA. Customers can only use the network if they have a Samsung Galaxy Note10+ 5G smartphone and have either AT&T’s Unlimited Extra or Unlimited Elite plans. The 5G network is in the low-band spectrum, which has slower speeds than millimeter wave…
