VTS’s Nick Romito Is Riding High in Real Estate Data

Nick Romito got his first surfing sponsor at age 12, and was well on his way to a sun-drenched career riding the waves.

But when his college years rolled in, Romito, who would go on to co-found and become the CEO of VTS (formerly known as View the Space), received a sponsorship offer that left him with a difficult decision for a 17-year-old.

Are You Ready for Facial Recognition at the Airport?

Travelers have to face a new reality—their faces are rapidly becoming their IDs and boarding passes at airports. Facial recognition is rolling out at boarding gates for international flights at big airports in Europe, Asia and the U.S., even as privacy concerns about the technology grow. JetBlue is doing it in New York; Delta in Atlanta, Minneapolis and Salt Lake City, with the rest of its hubs added by the end of 2019. International airlines from new entrants like Norwegian to old hands…

Offerpad and Keller Williams team up amid iBuying craze

Amid an iBuying craze, Keller Williams and Offerpad are teaming up to buy and sell more homes. Through a new partnership, Keller agents will steer sellers seeking all-cash offers to Offerpad, the companies announced Wednesday. Offerpad, which looks to flip homes within a week to 10 days, will then enlist Keller agents to market the properties. In an increasingly crowded field of iBuyers, the companies said the partnership ensures that consumers don’t have to choose between using a real est…

Equiem Completes Largest Tenant Experience Tech Market Raise to Date, As Equiem NEXT Launches

[New York, USA] Equiem, the global leader in tenant experience technology and services for commercial real estate, has announced the completion of its largest ever capital raise, securing more than $8.4 million (USD) from a number of different investors. The total is the biggest single funding round reported by any commercial tenant experience technology company to date and takes the amount invested in Equiem to over $20 million (USD) in total. Several high net worth investors from the…

Construction site mapping startup raises $14M from JLL, WeWork

A startup that maps construction sites raised $14 million on Tuesday, marking the latest infusion of capital into construction-technology companies by major players in the industry. OpenSpace, which creates 360-degree photo representations of job sites using artificial intelligence, raised $14 million in Series A funding, the company announced on Tuesday. Lux Capital led the round, joined by Goldcrest Capital, as well as new investors JLL Spark, Navitas Capital, Suffolk Construction, Tishman …

The News Funnel: Commercial Real Estate News, Personalized

The News Funnel is the commercial real estate industry’s largest content platform. Real estate professionals can create a free, customized News Funnel and receive headlines from their favorite sources daily. Companies can distribute their news and content for free to over 150,000 real estate professionals.

Venture Capital Investments in Commercial Real Estate Tech – July 2019

Download CREtech’s Monthly Funding Snapshot Report on venture capital investments for July 2019.  The heatwave of venture funding continued in July 2019. Investments in private real estate tech companies reached $2.5 billion, a 126% month-to-month increase.  During the same period, total deal volume decreased by an estimated 14%, totaling 37 deals.  

Co(ld) War: Why Some Landlords Prefer WeWork and Others Reach for Knotel

Like a Soviets-versus-U.S. space race, New York landlords have to figure out which side of the Iron Curtain they want to be on: WeWork’s or Knotel’s. WeWork and Knotel are the two biggest flexible office space providers in the city, competing for tenants and offices with relatively few overt acts of aggression, with both brands nabbing large chunks of space in buildings and sometimes even working with the same landlords….

Why Technology Won’t Replace Human Touch

In the residential market, more—not less—people are using brokers to buy a home, despite online tools. In fact, more buyers are looking online and following up with expert advice from a broker. The trend is a good sign for the commercial market that technology won’t replace the human touch of the real estate industry. Technology, instead, is becoming a part of the process along with human brokerage.

WeWork reveals IPO filing

WeWork, now known as The We Company, released its IPO prospectusWednesday morning months after filing confidentially to go public. The company indicated plans to raise $1 billion in what is likely a placeholder amount. Backed by billions from SoftBank  and its mammoth Vision Fund, the highly-anticipated float is expected as soon as next month. The New York-based company, valued at $47 billion earlier this year, has long been rumored to be plotting a massive IPO despite towering losses. The b…