We dug into recent early-stage financings (seed or Series A) to real estate technology companies to see which themes emerged around where the industry is going.

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Real estate is a massive asset class representing trillions of dollars in value. To date, the industry has not been thoroughly affected by technology and software, but investment from venture capital investors into technology startups operating in the space reached new levels in 2016. Through 2017 year-to-date (6/6/17), investors have already invested $1.46B across 107 deals. At the current run-rate, total dollars invested are expected to exceed 2016 by 25% to $3.4B.

Real estate technology companies are attacking the vertical from a variety of angles and to-date startups have found notable success creating ad-based residential real estate sites. Examples of this include Zillow, Trulia, StreetEasy and more.

Tech companies have not be as successful penetrating the commercial real estate industry. However, some companies like VTS are succeeding in creating platforms for leasing and property management which could end up helping strengthen the category as a whole.

Real Estate Tech Trends
All the latest data on financing and trends in real estate tech.

We dug into recent early-stage investments financings (seed or Series A) made to real estate technology companies since 2015 to see where new startups are emerging and mapped them according to the categories in which they operate. Note some companies on the map have gone on to raise past Series A round. Scroll down to see the table with all the startups included in the map.

We define real estate technology as the software tools and platforms used by different participants in the real estate industry, including brokers, investors, real estate-focused lenders and mortgage providers, property owners, and managers, as well as buyers. The category includes online real estate rental and buying guides. We do not include travel rental services like Airbnb.

We’ve divided the map between commercial and residential applications. In circumstances where certain companies straddled both categories we mapped them according to primary use case. Additionally, following industry standards, we placed companies that include a focus on the multi-family market in the commercial category.

Please click on the map to enlarge. The map is not meant to be exhaustive of companies in the space.

RE Early Stage Market Map7

The categories in our map are defined accordingly:

Listing & Search Services (residential & commercial) – This category includes startups that help users search for and list commercial and residential real estate. Examples of such companies include CREXi (commercial), and easyProperty (residential).

Marketplaces and Liquidity (residential) – This category helps match residential real estate buyers with sellers and, in certain circumstances, provides sellers with direct liquidity. Examples of companies in this category include Offerpad and Knock.

Marketing/Visualization (residential & commercial)This category includes startups that provide 3D visualization, virtual reality touring and photography to market properties remotely. Companies attacking this area include IrisVR.

Tech-enabled Brokerage (residential) – Startup brokerages that employ in-house brokers with their own listing services. Examples of companies in this category include Triplemint.

Property and Leasing Management (commercial)  These startups offer tools for property managers and landlords to manage property as well as improve the leasing process. Examples of such companies include commercial real estate property management tool VTS as well as Nestio, which caters to landlords and brokers working in multi-family buildings, and has raised investment from Trinity Ventures and Freestyle Capital, among others.

Property Management (residential) This category includes companies that offer tools for landlords and homeowners to manage residential property. Cozy Services is a startup in this category that has raised capital from investors like Google Ventures and Social Capital, among others.

Leasing and Renting (residential) This category includes listing and search startups that connect rental customers straight to the property owner and cut out the broker. Additionally, it includes companies that offer added value in streamlining or improving upon the leasing and renting process for landlords and tenants; startups in this category include Rezi and Flip.

Data, Valuation, and Analytics (residential & commercial) – This category includes companies that provide data and analytics tools to property managers and investors. Examples of such companies include property value and forecasting tools HouseCanary and REalyse.

O-2-O Services – Companies here are primarily Asia-based online-2-offline (O-2-O) businesses where users complete transactions online. Haozu.com is the only O-2-O company on our map. 

Mortgage and Lending (residential & commercial) This category includes mortgage lenders as well as software services that aggregate credit and banking data for borrowers and lenders. Examples of companies in this category include Morty.

Agent Services (residential) –  Companies in this category build products that serve real estate agents. Amitree, for example, helps agents manage their clients.

Investment/Crowd Financing (residential & commercial) – This category includes crowdfunding platforms that allow investors to participate in debt or equity financing for real estate, or both. The category includes RealtyShares.

Agent Matching (residential) – Startups in this category connect users directly to qualified agents. HomeLight is a good example of an agent matching company.

Title and Closing (residential) – This category includes companies that assist in title insurance and closing. Qualia Labs is an example of a company in this category.

Corporate and Shared Housing (residential) – This category includes companies that offer platform services or networks of shared and/or corporate housing with full furnishings, and/or community offerings. Examples of companies in this category include Common.

Events and Alternative Office (commercial) – This category includes platform companies connecting customers to alternative office and/or events space. Examples of companies operating in this include Croissant.


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The Early-Stage Real Estate Market Map
Company Select Investors Category Type
Bowery Real Estate Systems Camber Creek, Corigin Ventures, MetaProp NYC Data, Valuation, and Analytics Commercial
BetterView 500 Accelerator, Compound Ventures, MetaProp Data, Valuation, and Analytics Commercial
IdealSpot ATX Seed Ventures, Sean Greenberg Data, Valuation, and Analytics Commercial
Rentlytics Otter Rock Capital, Trinity Ventures, Walker & Dunlop Data, Valuation, and Analytics Commercial
redIQ Camber Creek, Osage Venture Partners, Symmetrical Ventures Data, Valuation, and Analytics Commercial
REscour Social Capital, Spider Capital Partners, TechSquare Labs Data, Valuation, and Analytics Commercial
Cortex Building Intelligence Unidisclosed Investors Data, Valuation, and Analytics Commercial
Enodo Score Unidisclosed Investors, Elmspring Accelerator Data, Valuation, and Analytics Commercial
Neo-nomade Sodexo Ventures Events and Alternative Office Commercial
HeadBox Solutions Anand Verma, Andy Cosslett, Brian Williamson Events and Alternative Office Commercial
Splacer Carmel Ventures, Qualcomm Ventures, Shaked Ventures Events and Alternative Office Commercial
Croissant 500 Accelerator Events and Alternative Office Commercial
Spacious Technologies Lerer Hippeau Ventures, MetaProp, SV Angel Events and Alternative Office Commercial
Spacee 500 Startups Events and Alternative Office Commercial
Bizly Brooklyn Bridge Ventures, Expansion VC, MetaProp Events and Alternative Office Commercial
BrickVest Global Founders Capital, Jean-Romain Lhomme Investment/Crowd Financing Commercial
Dynasty Marketplace First Round Capital, Greylock Partners, Lowercase Capital, MetaProp Investment/Crowd Financing Commercial
Exporo e.ventures, Holtzbrinck Ventures, Sunstone Capital Investment/Crowd Financing Commercial
Dealpath Bechtel, Deep Fork Capital, Formation 8 Investment/Crowd Financing Commercial
CrowdStreet Green Visor Capital, Portland Seed Fund, Rally Ventures Investment/Crowd Financing Commercial
LendInvest Atomico, Kunlun Worldwide, Macquarie Group Investment/Crowd Financing Commercial
RealtyShares General Catalyst, Menlo Ventures, Union Square Ventures Investment/Crowd Financing Commercial
Cadre Founders Fund, General Catalyst, Goldman Sachs Investment/Crowd Financing Commercial
Property Partner Index Ventures, Octopus Ventures, Silicon Valley Bank Investment/Crowd Financing Commercial
Truss Chicago Ventures, Hyde Park Venture Partners, New Coast Ventures Listing/Search Services Commercial
CREXi Founder Collective, Freestyle Capital, Lerer Hippeau Ventures Listing/Search Services Commercial
TheSquareFoot Entrepreneurs Roundtable Accelerator, Primary Venture Partners, RRE Ventures Listing/Search Services Commercial
IrisVR Azure Capital Partners, Emergence Capital Partners, Indicator Ventures, Locke Mountain Ventures, Morningside Ventures, Pritzker Group Venture Capital, Techstars, Valar Ventures Marketing/Visualization Commercial
Envelope MetaProp Marketing/Visualization Commercial
SharpLaunch Unidisclosed Investors Marketing/Visualization Commercial
Plum QED Investors, Renren Lianhe Holdings Mortgage and Lending Commercial
Momfo Gobi Partners, Kaitai Capital Mortgage and Lending Commercial
CrediFi 31Ventures, Battery Ventures, Carmel Ventures Mortgage and Lending Commercial
Haozu.com Black Hole Capital, Heidong Capital, JOY Capital O-2-O Services Commercial
ClickNotices SaaS Funding, Sopris Capital Associates, Westlake Ventures Property Management and Lending Commercial
Happy Inspector 500 Startups, Flight Ventures, Point Nine Capital Property Management and Lending Commercial
Honest Buildings Circle Ventures, Spring Ventures, Thrive Capital Property Management and Lending Commercial
VTS Blackstone Group, Camber Creek, Fifth Wall Ventures Property Management and Lending Commercial
Uban Chengwei Capital, Shunwei Capital Partners, Source Code Capital Property Management and Lending Commercial
Nestio BoxGroup, Quotidian Ventures, Trinity Ventures Property Management and Lending Commercial
Ravti Metaprop NYC, Y Combinator Property Management and Lending Commercial
Real Data Management Undisclosed Investors Property Management and Lending Commercial
Opcity Georgian Partners, Icon Ventures, LiveOak Venture Partners Agent Matching Residential
HomeLight 500 Startups, FundersClub, Google Ventures Agent Matching Residential
OpenAgent Breakthrough Lab, Hollard Investments, Qualgro Agent Matching Residential
SweepBright Volta Ventures Agent Services Residential
Riley FundersClub, Kleiner Perkins Caufield & Byers, Social Capital Agent Services Residential
Amitree Accel Partners, Morado Venture Partners, Vertical Venture Partners Agent Services Residential
FirePoint Solutions Sopris Capital Associates Agent Services Residential
Flatsy Unidisclosed Investors Agent Services Residential
Bedly Accomplice, Founder Collective, FundersClub Corporate and Shared Housing Residential
Blueground Endeavor Catalyst, VentureFriends Corporate and Shared Housing Residential
Roam Collaborative Fund, Corigin Ventures, CRV Corporate and Shared Housing Residential
Zeus MetaProp, NFX Guild Corporate and Shared Housing Residential
Common 8VC, Circle Ventures, Lowercase Capital, Otter Rock Capital Corporate and Shared Housing Residential
HomeSuite Battery Ventures, Bessemer Venture Partners, Foundation Capital Corporate and Shared Housing Residential
REalyse Anthemis Group, Pi Labs, Round Hill Capital Data, Valuation, and Analytics Residential
HouseCanary Alpha Edison, Basepoint Ventures, Europlay Capital Advisors Data, Valuation, and Analytics Residential
Mashvisor 500 Accelerator, Ibtikar Fund Data, Valuation, and Analytics Residential
PeerStreet Andreessen Horowitz, Guggenheim Partners, LeFrak, The Kaiser Family Foundation, Toba Capital Investment/Crowd Financing Residential
Bricklane.com LocalGlobe, Zoopla Investment/Crowd Financing Residential
Point Digital Finance Andreessen Horowitz, Bloomberg Beta, Ribbit Capital Investment/Crowd Financing Residential
Property Partner Index Ventures, Octopus Ventures, Silicon Valley Bank Investment/Crowd Financing Residential
REVeX Unidisclosed Investors Investment/Crowd Financing Residential
AlphaFlow FundersClub, Y Combinator Investment/Crowd Financing Residential
NoBroker Fulcrum Ventures India, KTB Network, SAIF Partners Leasing/Renting Residential
Rezi Y Combinator Leasing/Renting Residential
Goodlord Charlotte Street Capital, Global Founders Capital, Ribbit Capital Leasing/Renting Residential
OpenRent Global Founders Capital, Northern & Shell Ventures Leasing/Renting Residential
Nestaway Technologies Flipkart, IDG Ventures India, Tiger Global Management Leasing/Renting Residential
HomeMe 2M Companies, Menlo Ventures Leasing/Renting Residential
Flip BBG Ventures, MetaProp, Techstars Ventures Leasing/Renting Residential
Rentberry Boston Venture Fund, Google Ventures, WP Global Partners Leasing/Renting Residential
Cribspot First Step Fund, Huron River Ventures, Y Combinator Leasing/Renting Residential
OneRent Andrea Zurek, Chris Chin, Jeff Dean Leasing/Renting Residential
Tenant Turner CIT GAP Funds, Y Combinator Leasing/Renting Residential
QuintoAndar Acacia Partners, Kaszek Ventures, Qualcomm Ventures Leasing/Renting Residential
Domuso Envestnet | Yodlee Launchpad, Commerce.Innovated Leasing/Renting Residential
Zumper Andreessen Horowitz, Greylock Partners, Kleiner Perkins Caufield & Byers, New Enterprise Associates Listing/Search Services Residential
Casalova Aviva Ventures, MOTIVE Listing/Search Services Residential
McMakler Piton Capital, Star Lake Capital, Target Global Listing/Search Services Residential
Nestpick Mangrove Capital Partners, Rocket Internet, Target Global Listing/Search Services Residential
99.co 500 Startups, Sequoia Capital China, Sequoia Capital India Listing/Search Services Residential
easyProperty Toscafund Asset Management Listing/Search Services Residential
Kanjia K2 Ventures, Source Code Capital Listing/Search Services Residential
LoftSmart AngelPad, Corigin Ventures, MetaProp Listing/Search Services Residential
Settled 500 Startups Listing/Search Services Residential
Roomi AngelList, Great Oaks Venture Capital, Sand Hill East Ventures Listing/Search Services Residential
Open Listings Y Combinator Listing/Search Services Residential
ZigBang BlueRun Ventures, Company K Partners, Goldman Sachs Listing/Search Services Residential
Realvision 701 Angel Fund, Bridge Investment Fund, Brightstone Venture Capital Marketing/Visualization Residential
Nested Alex Samwer, Global Founders Capital, Passion Capital Marketplaces Residential
Reali Dragonfly Group, Liquid 2 Ventures, Signia Venture Partners Marketplaces Residential
OfferPad LL Funds Marketplaces Residential
Knock Greycroft Partners, Redpoint Ventures, RRE Ventures Marketplaces Residential
Homie Epic Ventures, KPCB Edge, Valar Ventures Marketplaces Residential
Roofstock Bain Capital Ventures, Khosla Ventures, Lightspeed Venture Partners Marketplaces Residential
Morty Barclays Accelerator, Corigin Ventures, Thrive Capital Mortgage and Lending Residential
MortgageHippo CMFG Ventures, Erik Stettler, Socialatom Group Mortgage and Lending Residential
Approved Bluesky Equities, Graph Ventures, Social Capital Mortgage and Lending Residential
Cloudvirga Incenter, Tribeca Angels, Upfront Ventures Mortgage and Lending Residential
Vast.com Capital One Growth Ventures, i/o ventures, Western Technology Investment Mortgage and Lending Residential
Trussle Entrepreneur First, Seedcamp, Zoopla Mortgage and Lending Residential
Habito Mosaic Ventures, Ribbit Capital, Yuri Milner Mortgage and Lending Residential
Eave Bessemer Venture Partners, MetaProp, Two Sigma Private Investments Mortgage and Lending Residential
Maxwell 1776, Techstars, Zelkova Ventures Mortgage and Lending Residential
uno Westpac Group Mortgage and Lending Residential
Roostify Colchis Capital, USAA, Wells Fargo Startup Accelerator Mortgage and Lending Residential
Dadao Financial China Renaissance Capital Investment, PAG, Sequoia Capital China Mortgage and Lending Residential
Clara Redpoint Ventures, Slow Ventures, Venrock Mortgage and Lending Residential
Sindeo Arkadi Kuhlmann, New Ground Ventures, Renren Lianhe Holdings Mortgage and Lending Residential
Lenda 500 Startups, Rubicon Venture Capital, Winklevoss Capital Mortgage and Lending Residential
Better Mortgage 1/0 Capital, Goldman Sachs, Kleiner Perkins Caufield & Byers Mortgage and Lending Residential
Rentalutions Cultivation Capital, MetaProp NYC, Plug and Play Ventures Property Management Residential
Mynd Canaan Partners, Jackson Square Ventures, Lightspeed Venture Partners Property Management Residential
Castle Khosla Ventures, SV Angel, Y Combinator Property Management Residential
Cozy Services General Catalyst, Google Ventures, Social Capital Property Management Residential
Fastfox Blume Ventures, CyberAgent Ventures, Lightspeed India Partners Tech-Enabled Brokerage Residential
Door Blair Baker, Don Huffines, Phillip Huffines, Robert Smith Tech-Enabled Brokerage Residential
GoldenKey Blue Capital Management, Buchanan Ventures, Lowe’s Ventures Tech-Enabled Brokerage Residential
HouseSimple Charles Dunstone, Roger Taylor Tech-Enabled Brokerage Residential
TRELORA Epic Ventures, Royal Street Ventures, Techstars Tech-Enabled Brokerage Residential
TripleMint Entrepreneurs Roundtable Accelerator, FJ Labs, Winklevoss Capital Tech-Enabled Brokerage Residential
YOPA Daily Mail and General Trust, Grosvenor Hill Ventures Tech-Enabled Brokerage Residential
Real Magma Venture Partners Tech-Enabled Brokerage Residential
Houwzer Ben Franklin Technology Partners, Jay Minkoff Tech-Enabled Brokerage Residential
Spruce Bessemer Venture Partners, Omidyar Network, Third Prime Capital Title and Closing Residential
Qualia Labs 8VC, Bienville Capital, Formation 8 Title and Closing Residential
JetClosing Maveron, Trilogy Equity Partners Title and Closing Residential
States Title Bloomberg Beta, Fifth Wall Ventures, Foundation Capital Title and Closing Residential

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