Jones' Blue Star Innovation Partners has made a rare investment in the proptech sector.
The proptech sector had experienced huge growth in past years, but funding drying up in 2023 has led startups to shut down and lay off staff.
A credit card that can be used to pay rent attracted young customers to Wells Fargo, but the bank's forecasts of how those cardholders would spend were off.
The Verified Renter Network uses Clear's security technology to identify renters who pass background checks and pose minimal fraud risk to owners and operators.
After the most turbulent year in proptech funding yet, the sector has yet to recover, with funding dropping nearly 15% in the first half.
In a letter to the company's board, Jonathan Litt cited missed growth targets and excessive turnover as reasons to sell.
Proptech funding has been falling since 2022, but things might be turning around for the sector.
Property management services like DoorLoop are poised to gain the most investment activity as Q4 continues, based on last quarter's data.
The company plans to use the funds to focus on product development, hiring and expanding its healthcare services.
New York-based Jones says it will use the funds to roll out artificial intelligence agents to help address rising insurance costs.
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