New York-based Compass, a residential real estate platform, and Jared and Josh Kushner’s investment startup, Cadre, have been ranked among the top real estate technology money magnets.
CBInsights, a company that produces reports and analysis on venture capital, private equity and angel investment in emerging and high-growth industries, just released a list of the top nine RETech startups raising money by the barrel.
According to CBInsights, real estate tech startups are raising money at record levels. In deal activity terms, the first quarter of tis year saw a quarterly record of 56 deals to real estate tech startups.
Most recently, there have been a number of notably large rounds to real estate tech startups such as Homelink, which raised a $926 million Series B in April 2016.
Real estate technology encompasses all the software tools and platforms used by different participants in the real estate industry, including brokers, investors, real estate-focused lenders, property owners, and managers, as well as buyers. The category includes online real estate rental and buying guides.
Shanghai-based real estate tech startup Aiwujiwu raised two $100 million mega-rounds in the last 12 months.
Homelink tops the list as the real estate tech startup to raise the largest amount of funding in a single round.
Other notable companies on the list include OpenDoor Labs founded by entrepreneur Keith Rabois and Cadre founded by the Kushner brothers.
In 2015 Josh Kushner founded a new company called Cadre with his brother Jared, and pal Ryan Williams.
Cadre is a technology platform designed to help certain types of clients, such as family offices and endowments, invest in real estate.
According to CBInsights, Cadre USA raised $50 million in Series B funding last year from investors that include General Catalyst Partners, Khosla Ventures, Kushner Companies, Lakestar, Parametric, Sherpa Capital, Slow Ventures, and Thrive Capital, a venture capital firm launched by Jared Kushner.
Sixx of the nine top tech firms were based in China, Singapore, and Canada.
- China-based Homelink topped the list with $926 million from sources including Baidu, Huasheng Capital, and Tencent.
- Fangdd, also China-based raised $223 million from FountainVest Partners;
- Aiwujiwu, China, raised $150 million from Banyan Capital, GGV Capital, Hillhouse Capital Management, Morningside Ventures, Shunwei Capital Partners, and Temasek Holdings.
- PropertyGuru, based in Singapore, raised $129 million. Investors include Emtek Group, Square Peg Capital, and TPG Growth.
- Aiwujiwu, China, raised $120 million. Investors include Banyan Capital, GGV Capital, Morningside Ventures, Shunwei Capital Partners.
- OpenDoor Labs, San Francisco, USA, raised $80 million. Backers include Access Industries, GGV Capital, Khosla Ventures, SVB Capital Partners.
- Real Matters, Canada, collected $60 million from Whitecap Venture Partners.
- Compass, New York City, USA, raised $50 million among .406 Ventures, Advance Vixeid Partners, Founders Fund, Institutional Venture Partners, Kenneth Chenault, Marc Benioff, and Thrive Capital.
- Cadre, New York, USA, raised $50 million. backers include Founders Fund, General Catalyst Partners, Khosla Ventures, Kushner Companies, Lakestar, Parametric, Sherpa Capital, Slow Ventures, and Thrive Capital.
