Earlier this week, the team at Strategic Cyber Ventures released a report on the state of the cybersecurity venture market. Venture investors poured $5.3 billion into cybersecurity startups in 2018. This is a 20% increase from 2017, which saw about $4.4 billion in venture capital investment in the cybersecurity space.
How big is proptech market? Venture investors sank $18.6 billion into real estate property technology — known as proptech — firms from 2015 to 2017, and more than 25 percent of that came in the fourth quarter of last year alone, according to a report from real estate tech research and marketing agency Re:Tech. In 2017, VCs put $12.6B into the real estate tech sector, with WeWork and Compass leading in terms of funds raised. Softbank invested $4.4 billion in WeWork and $450 million in Compass. United Stated-based real estate tech firms comprised nearly $6.5 billion, or 52 percent, of the venture capital funding raised in 2017.
CRE property management software startup Workframe announced that it has raised $9.5 million in a Series B funding round led by commercial real estate giant Newmark Knight Frank.
Over $5 billion was invested in real estate technology in 2017. The sector has strong momentum, and according to Matt Harris from Bain Capital Ventures, we are entering the third wave of real estate technology.
According to the WSJ, Developers are starting to future-proof parking garages that may be obsolete in the coming years. With autonomous vehicles becoming an inevitability, garages must be designed to be used for cars now and repurposed for other things later. Master-planned projects in cities like Toronto, Los Angeles, Oslo, San Francisco and Boston are being built with features like curbside drop-off areas for passengers and e-commerce deliveries, which will replace traditional parking lanes. Developers in high-density areas are looking to existing parking infrastructure for conversion projects, with an added benefit of being able to label these "sustainable" projects because they conserve materials.
In smart cities and urban tech, BIM is one of the main generators of the embedded digital information required to achieve connected cities. more smart building sensors, and enhanced IoT capabilities. Contractors' understanding of how people really use the built environment (and their own projects) will improve beyond anything previously imagined. Learn how blockchain technology can enable higher levels of BIM adoption.