The commercial real estate tech market map spans emerging categories like data analytics, investment, and property-management software, among other categories.
In May 2016, leasing- and asset-management software startup VTS raised one of the largest financing rounds for a commercial real estate tech startup to-date, a $55M Series C financing led by Insight Venture Partners. The commercial real estate tech startup industry isn’t as large as the residential real estate tech scene just yet, but it’s certainly growing.
Using CB Insights and analytics, we identified 53 startups working in commercial real estate tech, and categorized them into a market map spanning key emerging categories such as analytics and crowdfunding platforms.
Check it out below.
As noted in other real estate tech posts, our real estate technology category encompasses all the software tools and platforms used by different participants in the real estate industry, including brokers, investors, real estate-focused lenders, commercial property owners and managers (including multi-family buildings), as well as buyers. The category includes online real estate-rental and -buying guides, but excludes startups primarily focused on in-building services, e.g. office management.
Some startups span both the commercial and residential real estate markets.
Click on the image below to enlarge.
Listing & Search Services – This was the largest category in our market map, and includes startups that help users search for commercial real estate. This section includes 42Floors, which has raised from the likes of Bessemer Venture Partners and NEA, among others.
Marketplaces – This category helps match commercial real estate buyers with sellers, among other services, and includes startup VivaReal in the section. VivaReal focuses on Latin American markets, and has raised $61.7M to date.
Virtual Viewing – Startups that provide virtual property viewing, i.e. the opportunity to use cutting-edge tech such as 3D video to view properties remotely. Companies attacking this area include Matterport, which has raised over $58M to date. Some backers of theirs include Rothenberg Ventures, Greylock Partners, Felicis Ventures, and Qualcomm Ventures.
Tech-enabled Brokerage – One of the smaller categories in our map, startup here employ in-house brokers with their own listing services. This category includes TheSquareFoot, which raised $2.1M to date and counts RRE Ventures and Primary Venture Partners as backers.
Leasing-Management Software – Companies that provide tools to brokers and owners and streamline the leasing process, among other things. Companies in this space include the aforementioned VTS, which has raised over $85M to date.
Data, Valuation, and Analytics – This was one of the larger categories in our market map and includes Reonomy, which does commercial real estate analytics and has raised over $40M to date. The map also includes other well-known commercial real estate tech analytics startups like Compstak and Honest Buildings.
O-2-O Services – Companies here are primarily Asia-based online-2-offline (O-2-O) businesses where users complete their real estate transactions online. China-based Haozu.com is the only startup in this category and has raised $39M in financing to date.
Mortgage Tech – this was a large category in our residential real estate tech market map and we suspect more companies will emerge in the commercial real estate mortgage space in the coming months. The category includes peer-to-peer commercial mortgage lender Fruitful Finance as the sole company in the section.
Property/Building Management – These startups offer tools for property managers, landlords and tenants. Startups here include ClickNotices which helps landlords manage late rent payments and has raised $2M of disclosed funding from Super G Funding, Sopris Capital Associates, and Westlake Ventures.
Investment – One of the largest sections on our market map, the category includes crowdfunding platforms that allow investors to participate in debt or equity financing for commercial real estate, or both. Cadre, which has raised over $67M to date, connects investors to commercial real estate opportunities.
Property Information – Startups providing information and data-driven insights about commercial properties; Real Matters has raised over $127M from various investors, including Whitecap Venture Partners.
| Company | Investors | Category |
|---|---|---|
| 42Floors | 500 Startups, Bessemer Venture Partners, Canvas Venture Fund, Columbus Nova Technology Partners, New Enterprise Associates, and Thrive Capital | Listing and Search Services |
| LiquidSpace | Floodgate and Shasta Ventures | Listing and Search Services |
| Spacee | 500 Startups | Listing and Search Services |
| CREXi | Founder Collective, Freestyle Capital, Karlin Ventures, Leon Capital Group, Lerer Hippeau Ventures, and TenOneTen Ventures | Listing and Search Services |
| Digsy | K5 Ventures | Listing and Search Services |
| Bayut | Undisclosed Investors | Listing and Search Services |
| Properati | New Europe Venture Equity, and NXTP Labs | Listing and Search Services |
| Lamudi | Holtzbrinck Ventures and Tengelmann Ventures | Listing and Search Services |
| easyProperty | Toscafund Asset Management | Listing and Search Services |
| Zameen | Vostok New Ventures and Emerging Markets Property Group | Listing and Search Services |
| Breather | Real Ventures, RRE Ventures, and SOSventures | Listing and Search Services |
| Appear Here | Forward Investment Partners, Meyer Bergman, and MMC Ventures | Listing and Search Services |
| SpaceList | BDC Venture Capital and GrowLab Ventures | Listing and Search Services |
| PivotDesk | David Cohen, Foundry Group, Undisclosed Investors, and TechStars | Listing and Search Services |
| RealMassive | Capital Factory, Hurt Family Investments, and RHS Investments | Listing and Search Services |
| VTS | Insight Venture Partners, Openview Venture Partners, and Trinity Ventures | Leasing Management Software |
| Hightower | Bessemer Venture Partners, RRE Ventures, and Thrive Capital | Leasing Management Software |
| TenantBase | evoNexus | Tech-enabled Brokerage |
| TheSquareFoot | Primary Venture Partners, RRE Ventures, and Triangle Peak Partners | Tech-enabled Brokerage |
| VivaReal | Lead Edge Capital and Kaszek Ventures | Marketplace |
| Ten-X | Google Capital and Stone Point Capital | Marketplace |
| HeyPillow | Hampton Capital | Marketplace |
| Real Matters | Whitecap Venture Partners, Radar Capital, and Urbana Corporation | Property Information Services |
| RedVision | Edison Partners, Updata Partners, and IA Capital Group | Property Information Services |
| The News Funnel | Criscola Family Office, Jim Petrucci, Michael Beckerman, Scott Landis, SL Investment Partners, Steve Siegel and The Hampshire Companies | Property Information Services |
| PlaBro Networks | Binny Bansal, OutBox Ventures, Sachin Bansal, Sangram Singh, and Sol Primero | Property Information Services |
| ClickNotices | Sopris Capital Associates, Westlake Ventures, and Super G Funding | Property/Building Management |
| Happy Inspector | 500 Startups, Christoph Janz, Cyan Banister, Dave McClure, Gil Penchina, Mark Goldstein, Navitas Capital, Point Nine Capital, and Scott Banister | Property/Building Management |
| SMS Assist | Insight Venture Partners and Pritzker Group Venture Capital | Property/Building Management |
| Buildscience | Y Combinator | Property/Building Management |
| Compstak | Canaan Partners, 500 Startups , and Expansion VC | Data, Valuation, & Analytics |
| Propstack | DMG Information | Data, Valuation, & Analytics |
| Credifi | Battery Ventures, Carmel Ventures, and OurCrowd.com | Data, Valuation, & Analytics |
| Reonomy | Bain Capital Ventures, FinTech Collective, KEC Ventures, Primary Venture Partners, Resolute.vc, Softbank Capital, and Solon Mack Capital | Data, Valuation, & Analytics |
| Honest Buildings | Westly Group and RockPort Capital Partners | Data, Valuation, & Analytics |
| Lucernex | Undisclosed Investors | Data, Valuation, & Analytics |
| IdealSpot | ATX Seed Ventures and Sean Greenberg | Data, Valuation, & Analytics |
| BetterView | 500 Startups, Arena Ventures, Haystack Partners, Metamorphic Ventures, MetaProp, and Router Ventures | Data, Valuation, & Analytics |
| ReScour | Launch, Mosley Ventures, Social Capital, and Spider Capital Partners | Data, Valuation, & Analytics |
| Rentlytics | Walker & Dunlop, Rincon Venture Partners, and Trinity Ventures | Data, Valuation, & Analytics |
| Resimodel | Axiometrics, Bob White, Camber Creek, Kevin Quinn, Kurt Roeloffs, Leading Edge Ventures, and Osage Partners | Data, Valuation, & Analytics |
| Realty Mogul | Canaan Partners, Canaan Partners, and Sorenson Capital | Investment/Crowdfunding |
| Fundrise | Camber Creek, Collaborative Fund, Marty Burger, Renren Lianhe Holdings, and Tal Kerret | Investment/Crowdfunding |
| Cadre | Founders Fund, General Catalyst Partners, Kevin Colleran, Khosla Ventures, Lakestar, Sherpa Capital, Slow Ventures, and Thrive Capital | Investment/Crowdfunding |
| Realtyshares | General Catalyst Partners, Menlo Ventures and Union Square Ventures | Investment/Crowdfunding |
| CrowdStreet | Green Visor Capital, Portland Seed Fund, Rally Ventures, and Seven Peaks Ventures | Investment/Crowdfunding |
| RealCrowd | Alexis Ohanian, Data Collective, Garry Tan, and Paul Buchheit | Investment/Crowdfunding |
| PeerStreet | Adam Nash, Chris Warmuth, Doug Holte, Felicis Ventures, Guggenheim Partners, LeFrak, Michael Burry, Rembrandt Venture Partners, and Toba Capital | Investment/Crowdfunding |
| Matterport | Qualcomm Ventures, DCM Ventures, Greylock Partners, Rothenberg Ventures, and Felicis Ventures | Virtual Viewing |
| Floored | Two Sigma Ventures and Felicis Ventures | Virtual Viewing |
| IrisVR | Techstars | Virtual Viewing |
| Haozu.com | Black Hole Capital, JOY Capital, and Northern Light Venture Capital | O-2-O Services |
| Fruitful Finance | Undisclosed Investors | Mortgage Tech |