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Proptech investment didn’t look promising at the end of Q1 this year.
Data from the Center for Real Estate Technology and Innovation (CRETI) showed a decline in investments compared to the previous year. However, by October, things started to look up according to CRETI.
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Series B rounds were popular, signaling a focus on revenue-generating opportunities. AI technology played a significant role in the industry, allowing proptechs to improve internal operations.
Brokerages Power Up
Several companies like Restb.ai, Real Brokerage, Keller Williams, and Avenue 8 leveraged AI technology to enhance their services and offerings.
Property Management Catches Up
Rental industry software providers embraced AI to improve property management efficiency and tenant experience. Innovations like Colleen, Lessen, and HappyCo revolutionized maintenance processes and tenant interactions.
The Portal War for 2nd Place
Companies like Matterport, Giraffe 360, and iGuide continued to lead in immersive listing technology. CoStar’s acquisition of Matterport marked a significant development in the industry.
Odds and Ends
The industry saw advancements in buyer representation agreements, agent benefits, and innovations like Courted and Inspectify. Standalone solutions for buyer representation agreements didn’t gain traction, while AI continued to drive change and efficiency in the industry.
2024 was a year of internal focus and innovation, paving the way for a transformative 2025.
Email Craig Rowe
