Venture Capitalists' Real Estate Tech Investments Plummet 74%
Venture capitalists invested $192M in real estate tech startups in February, down 74% from $751M in January, according to a report from RETech — an affiliate of investment sales market data provider Falkon Inc.
Among the largest recipients of capital in the U.S. last month was New York-based national commercial real estate data provider Reonomy. Co-founded by CEO Richard Sarkis, the startup completed a $16M funding round earlier this month, led by private equity firm Bain Capital. Investors poured $25M into online mortgage processor Roostify and $15.5M into San Francisco based Lyric, a short-term rental operator.
Investment in the real estate tech space remains aggressive, despite February’s sluggish numbers. Everything from private equity firms to traditional brokerages are seeing value in the sector and shelling out cash to enhance their operations or become part-owner of the next unicorn.
VC firms bet on 26 startups last month, compared to 28 funded in January.