Real Estate Tech Company Funding Up, Deals Down
Real estate tech fundraising increased in Q1, and the rate at which money was raised jumped 10% year-over-year during the first quarter.
Sixty-one real estate tech deals closed during Q1, raising $733M, according to data from CB Insights. Should this pace of funding persist, real estate tech companies could raise $2.9B this year, Real Estate Tech News reports.
Though funding was up, deal volume was down. Completed deals have been on the decline since Q3 2016, hitting a low in Q4 2016 when only 59 deals closed. The noteworthy deals completed during the period include $375M in financing to Homelink, a China-based firm. RRE Ventures led a $32.5M Series A fundraising deal for Atlanta-based real estate sales platform Knock.