PropTech Funding Guide 2025

Complete database of 100+ PropTech investors, funding strategies, and insider insights for property technology startups seeking capital

Executive Summary: PropTech Investment Landscape 2025

The Property Technology (PropTech) sector represents one of the most significant opportunities in venture capital today, with the global real estate market valued at over $280 trillion and undergoing its most substantial technological transformation in history. Despite a 35% funding decrease from 2021's peak, PropTech attracted $24.7 billion in investment across 1,400+ deals in 2023, demonstrating sustained investor confidence in technology's ability to modernize real estate operations, transactions, and experiences.

$24.7B

2023 Global Funding

1,400+

Deals Completed

100+

Active VCs Listed

15%

Expected CAGR 2024-2030

The current market correction has created a more selective investment environment, with investors prioritizing startups demonstrating strong unit economics, clear paths to profitability, and defensible competitive moats. This shift benefits well-positioned PropTech companies by reducing competition for quality deals and improving terms for businesses with proven traction and sustainable business models.

Market Size and Growth Analysis

Global PropTech Funding Trends

2023 Total Funding$24.7B

2022 Total Funding$19.8B

2021 Peak Funding$32.4B

Average Deal Size 2023$17.6M

YoY Growth (2022-2023)+24.7%

Regional Investment Distribution

North America

58%

Europe

23%

Asia-Pacific

15%

Other Regions

Key Market Insights

• The PropTech market is expected to reach $86.5 billion by 2030, growing at a 15.8% CAGR
• Residential PropTech accounts for 65% of total funding, with commercial PropTech at 35%
• Construction tech has seen the fastest growth, with 89% YoY funding increase in 2023
• Average time to Series A has increased to 18 months (up from 12 months in 2021)
• 73% of PropTech unicorns are based in the US, followed by UK (12%) and Germany (8%)

PropTech Subsectors and Investment Focus

Residential PropTech

$16.1B invested in 2023

• Home buying/selling platforms (iBuying, marketplaces)
• Property management software and tenant portals
• Smart home technology and IoT solutions
• Rental platforms and lease management
• Home valuation and market analytics
• Mortgage and lending technology

Key Players:

Opendoor, Compass, Zillow, Redfin

Commercial Real Estate

$8.6B invested in 2023

• CRE data analytics and market intelligence
• Leasing and asset management platforms
• Space management and workplace optimization
• Investment and transaction platforms
• Portfolio management software
• PropTech for retail and hospitality

Key Players:

VTS, Procore, WeWork, Industrious

Construction Tech

$4.2B invested in 2023

• Project management and collaboration tools
• Building information modeling (BIM)
• Construction materials procurement
• IoT and sensor monitoring
• Robotics and automation
• Safety and compliance software

Key Players:

Procore, PlanGrid, Built, Fieldwire

PropTech Fintech

$3.8B invested in 2023

• Mortgage origination and processing
• Real estate crowdfunding platforms
• Property investment and fractional ownership
• Insurance technology for real estate
• Blockchain and cryptocurrency solutions
• Alternative lending and financing

Key Players:

Blend, Better.com, Cadre, Fundrise

Data & Analytics

$2.1B invested in 2023

• Property data aggregation and APIs
• Market analytics and forecasting
• Automated valuation models (AVMs)
• Location intelligence and GIS
• ESG and sustainability metrics
• Risk assessment and underwriting

Key Players:

Reonomy, CompStak, Cherre, Enodo

Emerging Segments

$1.9B invested in 2023

• Climate tech and energy efficiency
• Flexible living and co-living platforms
• Virtual and augmented reality for real estate
• PropTech for senior living and healthcare
• Urban planning and smart cities
• Property tokenization and NFTs

Key Players:

BlocPower, Common, Matterport, Sonder

PropTech Investment ROI Calculator

Current Annual Revenue ($)

Annual Growth Rate (%)

Customer Acquisition Cost ($)

Customer Lifetime Value ($)

Comprehensive PropTech Investor Database

This database includes 100+ active PropTech investors, from specialized PropTech funds to generalist VCs with strong real estate tech portfolios. Each entry includes focus areas, check sizes, portfolio companies, and contact information to help you identify the best fit for your startup's stage and sector.

Fund Name	Focus Area	Stage	Check Size	Notable Portfolio	Location	Website
Andreessen Horowitz (a16z) Founded 2009	All stages, marketplace platforms	Series A - Growth	$5M - $100M+	Opendoor, Compass, Cadre	Menlo Park, CA	Visit
Bessemer Venture Partners Founded 1911	Cloud software, marketplaces	Series A - C	$10M - $50M	DocuSign, Properly, VTS	San Francisco, CA	Visit
Sequoia Capital Founded 1972	Technology-enabled services	Seed - Growth	$1M - $200M+	Roofstock, Divvy Homes, Pacaso	Menlo Park, CA	Visit
General Catalyst Founded 2000	Transformative technology	Seed - Growth	$500K - $100M	Snapdocs, HqO, Ribbon	Cambridge, MA	Visit
NEA (New Enterprise Associates) Founded 1977	Enterprise software, fintech	Series A - Growth	$5M - $75M	Blend, Homelight, RentSpree	Menlo Park, CA	Visit
Fifth Wall Founded 2016	PropTech specialist	Series A - C	$5M - $40M	VTS, Homebot, Industrious	Los Angeles, CA	Visit
Camber Creek Founded 2013	Commercial real estate tech	Seed - Series B	$500K - $15M	Honest Buildings, Dealpath, Floored	Washington, DC	Visit
MetaProp Founded 2015	PropTech accelerator & fund	Pre-seed - Series A	$100K - $5M	Nestio, Bowery, Reonomy	New York, NY	Visit
2150 Founded 2020	Climate tech including PropTech	Seed - Series B	$1M - $20M	Dandelion Energy, BlocPower, Sealed	San Francisco, CA	Visit
Starwood Capital Group Founded 1991	Real estate & PropTech	Growth	$25M - $100M+	SonderMind, Vacasa, RedfinNow	Miami, FL	Visit
Foundamental Founded 2019	Construction & infrastructure	Seed - Series B	$500K - $25M	Procore, Built, Fieldwire	Berlin, Germany	Visit
Blackhorn Ventures Founded 2014	Construction tech	Series A - B	$3M - $20M	Katerra, Building Connected, Honest Buildings	Austin, TX	Visit
Brick & Mortar Ventures Founded 2016	Construction & real estate	Seed - Series A	$250K - $10M	ServiceTitan, PlanGrid, BuildingConnected	San Francisco, CA	Visit
Convex Venture Capital Founded 2017	Residential PropTech	Seed - Series A	$500K - $8M	Divvy Homes, Rentberry, Knock	New York, NY	Visit
RET Ventures Founded 2016	Residential real estate	Pre-seed - Series A	$100K - $5M	Rentals.com, Updater, Rently	San Francisco, CA	Visit
Second Century Ventures Founded 2012	Real estate innovation	Seed - Series B	$250K - $15M	Chime, MoxiWorks, Homesnap	Chicago, IL	Visit
Pi Labs Founded 2014	PropTech specialist (Europe)	Seed - Series A	£200K - £5M	Spaceflow, Goodlord, Unmortgage	London, UK	Visit
A/O PropTech Founded 2019	European PropTech	Series A - B	€2M - €20M	Casavo, Homeday, Loft	Berlin, Germany	Visit
JLL Spark Founded 2017	PropTech (global)	Series A - C	$5M - $50M	VTS, Honest Buildings, Skyline AI	New York, NY	Visit
Moderne Ventures Founded 2014	InsurTech & PropTech	Seed - Series A	$500K - $5M	Matic, Hippo, Knocked	San Francisco, CA	Visit
Thomvest Ventures Founded 2000	B2B software including PropTech	Series A - B	$3M - $25M	Altus Group, Yardi, MRI Software	Toronto, Canada	Visit
Leap Venture Partners Founded 2014	Enterprise software	Series A - B	$2M - $15M	Workrise, Levelset, CompanyCam	Palo Alto, CA	Visit
Urban Innovation Fund Founded 2018	Smart cities & PropTech	Seed - Series A	$500K - $10M	Coord, Sidewalk Labs, CityGrows	Los Angeles, CA	Visit
Moderne Ventures Founded 2014	FinTech & PropTech intersection	Seed - Series A	$250K - $8M	States Title, Matic, Hippo	Santa Barbara, CA	Visit
Zigg Capital Founded 2019	B2B PropTech	Pre-seed - Seed	$100K - $2M	Rezi, Immo, PropertyRadar	Austin, TX	Visit
CBRE Venture Capital Founded 2015	Commercial real estate tech	Series A - C	$3M - $30M	VTS, Honest Buildings, Floored	Los Angeles, CA	Visit
Brookfield Ventures Founded 2016	Real estate & infrastructure	Growth	$10M - $100M+	Sonder, ButterflyMX, SmartRent	Toronto, Canada	Visit
Related Companies Ventures Founded 2018	PropTech & smart buildings	Series A - B	$2M - $25M	Lane42, Honest Buildings, Hello Alfred	New York, NY	Visit
Initialized Capital Founded 2011	Early stage B2B software	Pre-seed - Series A	$100K - $5M	Paymi, Landed, Zenplace	San Francisco, CA	Visit
Precursor Ventures Founded 2010	Pre-seed specialist	Pre-seed	$50K - $500K	DoorDash, Makespace, Plangrid	San Francisco, CA	Visit
Hustle Fund Founded 2017	Pre-seed specialist	Pre-seed	$25K - $250K	Webflow, Paymi, Landed	San Francisco, CA	Visit
SoftBank Vision Fund Founded 2017	Growth stage tech	Series C+	$50M - $1B+	Compass, Opendoor, WeWork	London, UK	Visit
Tiger Global Management Founded 2001	Growth stage internet	Series B+	$10M - $500M+	Rocket Homes, Compass, Loft	New York, NY	Visit
Coatue Management Founded 1999	Technology growth	Series B+	$25M - $300M+	Compass, Opendoor, Cadre	New York, NY	Visit

PropTech Funding Stages: Complete Guide

Pre-Seed

Pre-Seed Funding ($50K - $500K)

Typical Milestones

• MVP development and initial testing
• Early customer validation and feedback
• Team formation and co-founder alignment
• Initial market research and opportunity sizing
• Basic regulatory compliance understanding

Investor Types

• Friends, family, and angels
• Pre-seed specialist funds
• PropTech accelerators (MetaProp, Techstars)
• Industry veterans and advisors
• Real estate industry connections

Key Use of Funds

• Product development and MVP refinement
• Initial customer acquisition testing
• Team building and key hires
• Legal setup and IP protection
• 12-18 months runway

Seed

Seed Funding ($500K - $3M)

Typical Milestones

• Product-market fit evidence
• $10K+ MRR or transaction volume
• 50+ paying customers or active users
• Clear value proposition demonstration
• Regulatory compliance established

Investor Types

• Seed-stage VCs (RET Ventures, Convex)
• PropTech specialists (MetaProp, Pi Labs)
• Angel investors and syndicates
• Strategic investors from real estate
• Government grants and programs

Key Use of Funds

• Sales and marketing team building
• Customer acquisition and growth
• Product development and features
• Market expansion preparation
• 18-24 months runway

Series A

Series A Funding ($3M - $15M)

Typical Milestones

• $100K+ MRR with clear growth trajectory
• Strong unit economics and LTV:CAC > 3:1
• 500+ customers with low churn
• Proven go-to-market strategy
• Clear path to $10M+ ARR

Investor Types

• Tier 1 VCs (a16z, Sequoia, NEA)
• PropTech specialists (Fifth Wall, Camber Creek)
• Corporate VCs (CBRE, JLL Spark)
• Growth-focused funds
• International VCs for expansion

Key Use of Funds

• Sales team scaling and expansion
• Geographic market expansion
• Product development and R&D
• Strategic partnerships and integrations
• 24-30 months runway

Series B+

Series B+ Funding ($15M+)

Typical Milestones

• $1M+ MRR with strong growth
• Market leadership in specific vertical
• International expansion or new products
• Clear path to $100M+ ARR
• Strong competitive differentiation

Investor Types

• Growth stage funds (Tiger, Coatue)
• Late-stage VCs and crossover funds
• Corporate strategic investors
• Sovereign wealth funds
• Private equity firms

Key Use of Funds

• International market expansion
• New product line development
• Strategic acquisitions
• IPO preparation activities
• 30+ months runway

PropTech Business Model Patterns

SaaS Subscription Models

Property Management Software

Monthly/annual subscriptions for landlords and property managers. Typical pricing: $10-50 per unit per month.

Examples: Buildium, RentSpree, AppFolio

Analytics and Data Platforms

Subscription-based market data and analytics. Enterprise pricing: $500-5,000+ per month.

Examples: CoStar, Reonomy, CompStak

Construction Project Management

Per-seat or per-project pricing for construction teams. Typical: $99-399 per user per month.

Examples: Procore, PlanGrid, Fieldwire

Marketplace Models

Transaction Marketplaces

Commission-based revenue from completed transactions. Typical: 1-3% of transaction value.

Examples: Compass, Redfin, Offerpad

Service Provider Networks

Commission from service providers or lead generation fees. Revenue per lead: $50-500.

Examples: Thumbtack, Angi, BuildZoom

Rental Marketplaces

Booking fees and/or monthly subscription from hosts. Commission: 3-12% per booking.

Examples: Airbnb, Sonder, Vacasa

Fintech Hybrid Models

Mortgage and Lending

Origination fees, interest spreads, and loan servicing revenue. Basis points: 100-400 bps.

Examples: Blend, Better.com, Rocket Mortgage

Investment Platforms

Management fees, performance fees, and transaction fees. Annual fees: 0.5-2% of AUM.

Examples: Fundrise, YieldStreet, Cadre

iBuying and Asset Models

Buy-hold-sell spread and service fees. Gross margins: 5-8% of home value.

Examples: Opendoor, Offerpad, RedfinNow

Data Monetization Models

API and Data Licensing

Per-API-call pricing or flat licensing fees. Typical: $0.01-1.00 per API call.

Examples: Zillow API, RentSpree API, HouseCanary

Market Intelligence

Subscription-based market reports and analytics. Premium tiers: $1,000-10,000+ per month.

Examples: REIS, Yardi Matrix, CoStar

Lead Generation

Pay-per-lead or cost-per-acquisition models. Lead prices: $25-500 depending on quality.

Examples: Zillow Premier Agent, Realtor.com, Homes.com

Regulatory Considerations for PropTech Startups

Critical Regulatory Alert

PropTech operates in one of the most regulated industries globally. Regulatory compliance isn't just about avoiding penalties—it's a core investor evaluation criterion. Non-compliance can kill fundraising prospects and limit market opportunities. Always consult legal experts specializing in real estate technology.

Real Estate Licensing Requirements

• Brokerage Activities: Facilitating property transactions typically requires real estate licenses
• State-by-State Variations: Each US state has different licensing requirements and exemptions
• Technology Exemptions: Pure technology platforms may qualify for exemptions in some jurisdictions
• Partnership Strategies: Many PropTech companies partner with licensed brokers
• Investor Concern: Licensing requirements can limit scalability and increase operational costs

Investor Due Diligence Focus:

Legal opinion on licensing requirements, compliance costs, and scalability implications

Fair Housing and Anti-Discrimination

• Fair Housing Act: Prohibits discrimination in housing based on protected characteristics
• Algorithm Bias: AI and ML algorithms must not perpetuate housing discrimination
• Advertising Compliance: Property listings and ads must comply with fair housing rules
• HUD Enforcement: Department of Housing and Urban Development actively enforces violations
• Accessibility Requirements: Digital platforms must be accessible to users with disabilities

Best Practices:

Regular algorithm auditing, fair housing training, and accessibility compliance testing

Financial Services Regulations

• SAFE Act: Mortgage loan originators must be licensed and registered
• TILA-RESPA: Truth in Lending Act and Real Estate Settlement Procedures Act compliance
• Securities Law: Real estate investment platforms must comply with SEC regulations
• Anti-Money Laundering: BSA and AML compliance for financial transactions
• Consumer Financial Protection: CFPB oversight for consumer-facing financial products

Regulatory Technology:

Invest in RegTech solutions for automated compliance monitoring and reporting

Data Privacy and Security

• GDPR Compliance: European data protection requirements for EU users
• CCPA and State Laws: California and other state privacy laws
• Sensitive Data Handling: Financial, personal, and property data requires special protection
• Third-Party Integrations: Due diligence on data sharing with partners
• Breach Notification: Requirements for data breach disclosure and remediation

Investor Expectation:

Enterprise-grade security, privacy by design, and comprehensive data governance

Construction and Safety Regulations

• Building Codes: Local and national building code compliance requirements
• OSHA Standards: Occupational safety and health requirements for construction
• Environmental Regulations: EPA and local environmental compliance
• Professional Liability: Insurance and licensing for construction-related services
• Quality Assurance: Standards for construction materials and methods

Risk Mitigation:

Partner with licensed professionals and maintain comprehensive liability insurance

International Expansion Considerations

• Local Real Estate Laws: Each country has unique property law frameworks
• Foreign Investment Rules: Restrictions on foreign ownership and investment
• Cross-Border Data: Data localization and transfer requirements
• Tax Implications: International tax planning and compliance obligations
• Professional Services: Local legal and accounting requirements

Expansion Strategy:

Prioritize markets with clear regulatory frameworks and strong rule of law

PropTech Fundraising Success Stories

Opendoor

iBuying Pioneer - Total Raised: $2.0B+

Fundraising Journey

• Seed (2014): $10M led by Khosla Ventures
• Series A (2015): $80M led by NEA
• Series B (2016): $210M led by GGV Capital
• Series C (2017): $325M led by SoftBank
• Series D (2018): $400M led by General Atlantic
• IPO (2020): $2.4B valuation via SPAC

Key Success Factors

• Massive addressable market ($1.6T residential transactions)
• Strong unit economics and data-driven pricing models
• Experienced team with real estate and tech backgrounds
• Geographic expansion strategy with market-by-market rollout
• Technology moat in automated valuation and risk assessment

Investor Lesson

Capital-intensive business models require patient capital and strong unit economics validation before scaling

VTS (View The Space)

Commercial Real Estate SaaS - Total Raised: $190M+

Fundraising Journey

• Seed (2013): $3M from angels and early VCs
• Series A (2015): $13M led by Bessemer Venture Partners
• Series B (2017): $30M led by OpenView
• Series C (2018): $90M led by JLL Spark
• Series D (2021): $55M led by CBRE
• Acquisition (2023): Acquired by EQT for undisclosed amount

Key Success Factors

• Early mover advantage in CRE asset and lease management
• Strong network effects and customer stickiness
• Strategic corporate investors providing market access
• Focus on enterprise customers with high switching costs
• Comprehensive platform covering entire CRE lifecycle

Investor Lesson

B2B PropTech with enterprise focus can achieve strong margins and customer retention, attractive to strategic acquirers

Procore

Construction Management - Public Company (NYSE: PCOR)

Fundraising Journey

• Series A (2013): $25M led by Bessemer Venture Partners
• Series B (2015): $50M led by ICONIQ Capital
• Series C (2016): $60M led by Dragoneer Investment Group
• Series D (2019): $75M led by Tiger Global
• IPO (2021): $635M raised, $9.6B initial market cap
• Current Market Cap: ~$8B+ (as of 2024)

Key Success Factors

• Mission-critical software for construction project management
• Strong customer retention (>90% gross revenue retention)
• Extensive partner ecosystem and integrations
• International expansion and multi-product strategy
• Consistent ARR growth and path to profitability

Investor Lesson

Construction tech SaaS can achieve public company scale with focus on mission-critical workflows and strong unit economics

Compass

Real Estate Brokerage Tech - Public Company (NYSE: COMP)

Fundraising Journey

• Series A (2013): $8M led by Thrive Capital
• Series B (2014): $75M led by General Atlantic
• Series C (2015): $100M led by Goldman Sachs
• Series D+ (2016-2019): $1.5B+ from SoftBank, others
• IPO (2021): $450M raised, $7B initial valuation
• Current Market Cap: ~$1.5B (as of 2024)

Challenges and Learnings

• High cash burn rate and customer acquisition costs
• Commission-based model challenged by market downturns
• Competition from traditional brokerages and new entrants
• Technology differentiation difficult to maintain
• Post-IPO valuation pressures and profitability focus

Investor Lesson

Traditional business models with technology overlay face challenges proving sustainable competitive advantages and unit economics

PropTech Metrics and KPIs Investors Analyze

SaaS PropTech Metrics

Monthly Recurring Revenue (MRR)

Predictable monthly subscription revenue

Benchmark: 15-25% MoM growth for early stage

Annual Recurring Revenue (ARR)

MRR × 12, key valuation metric

Milestone: $1M ARR for Series A readiness

Gross Revenue Retention (GRR)

Revenue retained from existing customers

Target: >85% for healthy SaaS business

Net Revenue Retention (NRR)

Includes expansion revenue from existing customers

Excellent: >110% indicates strong expansion

Average Revenue Per User (ARPU)

Total revenue divided by total customers

Focus: Increasing ARPU through upselling

Marketplace Metrics

Gross Merchandise Value (GMV)

Total transaction volume facilitated

Key driver: GMV growth rate and take rate

Take Rate

Revenue as percentage of GMV

Benchmark: 1-8% depending on value provided

Supply/Demand Balance

Ratio of suppliers to demand-side users

Critical: Achieving marketplace liquidity

Repeat Transaction Rate

Percentage of users making repeat transactions

Strong: >30% for residential, >60% for B2B

Time to First Transaction

How quickly new users complete first transaction

Optimize: Reduce friction in onboarding

FinTech PropTech Metrics

Loan Origination Volume

Total dollar value of loans originated

Growth: Volume and revenue per loan

Default/Delinquency Rates

Percentage of loans in default or delinquent

Risk management: Keep below industry average

Assets Under Management (AUM)

Total value of assets managed

Investment platforms: Primary valuation metric

Cost Per Acquisition (CPA)

Cost to acquire a financial services customer

FinTech: Often higher than other sectors

Revenue Per Transaction

Average revenue generated per transaction

Optimize: Increase through premium services

Universal PropTech Metrics (All Business Models)

Customer Acquisition Cost (CAC)

$50-$500

Varies by customer type (B2C vs B2B)

Lifetime Value (LTV)

3:1-5:1

LTV:CAC ratio target

Monthly Active Users

20-40%

MoM growth rate for consumer apps

Gross Margin

60-85%

Target for software-heavy models

Frequently Asked Questions

Ready to Raise PropTech Funding?

Use this comprehensive guide to identify the right investors, prepare your metrics, and navigate regulatory requirements for successful PropTech fundraising.

100+

Active PropTech Investors

$24.7B

2023 Global Funding

15.8%

Expected CAGR through 2030