According to RE:tech, venture investors deployed over $3.2 billion into real estate tech startups in November. The majority of this capital went to just three companies. WeWork raised $3 billion, while Nested and PropertyFinder raised just over $120 million each. All other earlier stage real estate tech startups split the remaining $34 million of total funding in November.
Total funding for real estate tech startups fell in the first quarter of 2018, compared to the same time span in 2017. The total funding to startups in Q1 of 2018 was approximately $1.4B, which represents a 75% drop from Q4 of 2017. This number does not necessarily mean a slowdown in funding for early-stage startups; in 2017, total funding numbers were ballooned by massive funding rounds from companies like Offerpad, WeWork, and Compass.
Every day at Dreamit UrbanTech, we interact with new startups transforming this supply chain, and as part of our 14-week growth-focused program, we bring select startups on a 2-week "Investor Roadshow" where they meet with dozens of investors from both generalist firms and from firms focused on real estate, construction, and products for smarter cities. We wanted to share some of our favorite firms focused on the built environment so you can use it as a resource for fundraising. We will continue to maintain this spreadsheet and will be updating it regularly with new venture investors who we meet who are committed to transforming real estate, construction, and the built environment.