Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
THE REAL DEAL
Camber Creek, a venture capital firm focused on real estate tech, is targeting $120 million for its largest fund to date. Launched in 2011, Camber Creek has raised $50 million to date — including an initial $20 million fund and a $30 million second fund in 2017. The company filed paperwork for its latest capital raise with the U.S. Securities and Exchange Commission last month.
CREtech
Join us for CREtech’s biggest east coast two-day conference on October 16-17, 2019. The premier commercial real estate event is expected to attract 2,000 professionals from around the world. Global commercial real estate executives will attend the event to network, uncover new investment opportunities, and acquire leading-edge products and services to enable digital transformation for the largest industry in the world.
BISNOW
The world’s introduction to coworking behemoth WeWork’s financials came via its initial public offering filed with the Securities and Exchange Commission last week. There were a lot of figures to look at behind the company’s $47B valuation. The S-1 outlined everything from how many countries WeWork operates in (29) to its overall occupancy rate (90%) to how many of its clients have more than 500 employees (39%).
PITCHBOOK
Procore is seeking to raise up to $112.5 million in Series H1 funding, PitchBook has learned. The funding would value the company at around $3.3 billion, per a PitchBook estimate, up from the $3 billion valuation it reached in December. Final terms and details of the financing have not been announced and are subject to change. The company declined to comment. Founded in 2003, the Southern California-based company is the provider of cloud-based construction software, which aims to replace t…
CRETech
Attending the CREtech New York Conference on October 16-17, 2019? Don’t miss a groundbreaking session from Granit Gjonbalaj, Chief Real Estate Development Officer of WeWork. He will present the CREtech Talk: “WeWork: A Profile In Innovation” and discuss how no other start-up has transformed commercial real estate like WeWork. From the tenant experience to brokerage and development, hear how WeWork plans to keep pushing innovation. Our team at CREtech recently caught up with Gjonbalaj to l…
NEW YORK TIMES
It was April 2014, and Uber was announcing a new $1 charge onfares called the Safe Rides Fee. The start-up described the charge as necessary to fund “an industry-leading background check process, regular motor vehicle checks, driver safety education, development of safety features in the app, and insurance.” But that was misleading. Uber’s margin on any given fare was mostly fixed, at around 20 to 25 percent, with the remainder going to the driver. According to employees who worked on the p…
REALTOR MAGAZINE
The pace at which technologies like iBuyers and artificial intelligence are reshaping the real estate industry is only going to speed up. But that’s no reason to fear for your livelihood. While these innovations will simplify the home buying and selling process, they won’t change your role as an adviser helping clients understand their home sale options. In fact, technology—devoid of emotion—stands in stark contrast to your strongest value proposition to consumers: bringing human compassion to t…
FORBES
Homeownership is considered a core part of achieving the American Dream. However, that achievement is slipping out of reach of many Americans these days. U.S. homeownership has been at record lows throughout this decade. More Americans are renting as a response while managing with stagnant wage growth. The path to homeownership in today’s America has never looked this dismal. Cyril Berdugo, 29, and Tom Petit, 31, have built Landis to create a new road for Americans to own a home. Landis is a soc…
WOMEN IN PROPTECH
200+ industry leaders will convene Oct. 18 to discuss transformative technologies aimed at achieving well-being and sustainability goals for the built environment (August 20, 2019) NEW YORK — Women in PropTech (https://www.womeninproptech.co/), the leading global industry group for women in real estate technology, today announced its formation and its inaugural Women in PropTech Summit. The Summit will be a half-day event, taking place on October 18 in Manhattan, and will explore real-world a…
TECHCRUNCH
Tandem, one of the most sought-after companies to graduate from Y Combinator’s summer batch, will emerge from the accelerator program with a supersized seed round and an uncharacteristically high valuation. The months-old business, which is developing communication software for remote teams after pivoting from crypto, is raising a $7.5 million seed financing at a valuation north of $30 million, sources tell TechCrunch. Airbnb investor Andreessen Horowitz is leading the round….
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