Real Estate Startups: Who Leads the Prop Tech Market?

$18 bln by 2025 is an expected value for a real estate management software market. Impressive numbers, aren’t they?

Property tech solutions are becoming an integral part of the current market and changing the way real estate companies do their business.

For this reason, we decided to prepare a detailed list of real estate startups that impress and motivate any entrepreneur to start their proptech business.

You will find out the next information:

• Overview of the real estate tech companies
• Quick facts with the history of funding rounds
• Favor customers that trust real estate tech startups
• Is it a great idea to launch the same startups nowadays?

NOTE: We sorted the real estate startups by the number of raised funds trying to cover different business niches you can consider starting your own company in.

Knotel

Established: 2015

Raised funds: $560M

Headquarters: New York, United States

Employees: 500

Knotel, holding the top spot of the real estate startups New York and valued at $1.6B in 2020, is a property tech company founded in 2015 by Amol Sarva and Edward Shenderovich.

The core mission of the adjustable, tailor-made workspace provider is to make real estate simple, flexible, and responsive for brokers, owners, and customers.

Knotel provides an intuitive platform for shaping, constructing, and designing custom workspaces tailored specifically for a business’s needs and preferences.

Here are the key services provided by one of the leading real estate startups:

• Workplace strategy development
• Interior design and branding
• Build and project management
• Space enhancement and management
• Experience testing and management.

Let’s check several quick facts about Knotel:

• The company has designed and built top-notch tailor-made workspaces in more than 15 locations
• Knotel has achieved unicorn status with a $1 billion valuation in less than four years
• One of the leading real estate tech startups, Knotel offers a unique and one-of-a-kind service called “headquarters as a service,” which provides sublease of office spaces for large enterprises.

Knotel Quick Facts

What Brands Trust Knotel

Uber, Tend, Busuu, Segment, Teachable, and Zeus make the list of top brands using Knotel property tech solutions for their business.

Brands That Trust Knotel

Is It a Great Idea to Launch a Workspace & Coworking Startup in 2021?

According to the Allwork.Space report, the number of coworking spaces is forecasted to double and reach over 40,000 by 2024 compared to only 19,000 in 2019.

What’s more, the number of coworkers globally was over 3 million people in 2019, and it’s projected to double up to 6 million workers by 2022.

Don’t these statistics impress you yet?

Ultimately, more than 70% of coworking spaces become profitable after 2 years of operation, according to the DeskMag report.

All these incredible numbers prove that starting your own workspace and coworking tech startup in 2021 is not a good but perfect opportunity to run into a profitable business initiative.

Homeday

Established: 2015

Raised funds: $71.4M

Headquarters: Berlin, Germany

Employees: 220

Homeday is among the revolutionizing real estate tech startups founded in 2015 by Steffen Wicker, Dmitri Uvarovski, and Philipp Reichle in Berlin, Germany.

The core organization’s mission is to provide the proptech market with a next-gen platform that simplifies the way people sell and buy properties.

Let’s briefly overview the platform functionality of Homeday:

• Real estate appraisal system
• Accurate land valuation
• Flexible leasing services
• Automatic real estate property document generation
• Legally secure sale closing.

Apart from the online brokerage firm functionality, Homeday has also released its flagship product, Preisatlas. It allows brokers and customers to find the current square meter price for any address in Germany for free.

This way, the company wanted to provide a revolutionizing platform that brings ultimate transparency into the German real estate market based on internal algorithms.

As one of the leading real estate tech companies, Homeday has successfully passed three funding rounds acquiring over $71M totally supported by such brands as Project A, Paua Ventures, Axel Springer, Purplebricks, and others.

Is It Viable to Launch a Real Estate Brokerage Startup in 2021?

According to the DataIntelo report, the global commercial real estate software market was valued at $2.4B in 2019 and is forecasted to reach over $6.9B by 2027.

These numbers show the market growth rate and prove that building an innovative technology solution for the proptech market is an excellent opportunity to provide organizations with a sought-after offering.

OnSiteIQ

Established: 2017

Raised funds: $12.4M

Headquarters: New York, United States

Employees: 50

OnSiteIQ, featured in the market-leading real estate startups list, is a successful company providing a powerful computer vision platform for construction risk assessment.

The organization was founded in 2017 by Ardalan Khosrowpour and John Mollis in New York, the United States.

Since then, the company has acquired more than $12.4 mln in investments through 4 funding rounds supported by Bullpen Capital, ValueStream Ventures, 10X Capital, MetaProp, etc.

Let’s check the crucial product solutions provided by OnSiteIQ, a property tech startup:

• 3D 360-degree real-time construction site monitoring
• Next-gen interactive floor plans functionality
• Intuitive jobsite observations generation tool
• Insightful AI-based progress monitoring features
• Seamless collaboration and integration opportunities.

As one of the best-in-class real estate startups, OnSiteIQ offers multiple feature-rich technology solutions for commercial, government, healthcare, education, multifamily, and hospitality asset classes.

What Companies Use OnSiteIQ

PMA Consultants, Brookfield Multiplex, Lightstone, Confluent Development, and Moinian are among the most well-known companies that use a powerful computer vision platform by OnSiteIQ.

What Companies Use OnSiteIQ

Spaceti

Established: 2016

Raised funds: $5M

Headquarters: Amsterdam, Noord-Holland, The Netherlands

Employees: 11-50

Spaceti is among the most revolutionizing real estate startups founded in 2016 by Max Verteletskiy and Aakash Ravi in Amsterdam, Netherlands.

The startup provides a next-gen space management platform along with other multiple proptech solutions, including:

• Hybrid workplace management
• Occupancy analytics & people counting
• Environmental analytics
• Smart lockers and deliveries
• Smart parking systems
• Cisco DNA spaces
• Touchless control.

Since 2016, one of the mind-blowing real estate tech companies has been offering innovative enterprise and IoT software for commercial real estate market players.

The company has succeeded within 3 founding rounds acquiring over $5M in total. Lighthouse Ventures and Reflex Capital are the most recent and major investors supporting the property tech company’s growth and development.

Let’s shortly overview several quick facts about Spaceti:

• The company’s team is made of professionals from over 13 countries
• One of the leading real estate tech companies, Spaceti was recognized as the Top Proptech Firm Worldwide (according to MIPIM 2019)
• The startup has 3 R&D divisions around the world
• The property tech solutions by Spaceti were deployed on over 1 million m2 in 10+ countries.

Spaceti Quick Facts

What Companies Trust Spaceti

Cobblestone, Castellum, L’Oreal, Vodafone, Red-Thread, CBRE, and Cushman&Wakefield make the list of the most well-known companies using Spaceti products and services for their business.

What Companies Trust Spaceti

Is It a Good Idea to a Build Space Management Startup in 2021?

According to the Verified Market Research report, the global workspace planning and management software market was valued at $764 million in 2020 and is projected to reach $1.4 bln by 2028 with a CAGR of 8.11% from 2021 to 2028.

Why does it happen? Proptech startups offering innovative space planning and management solutions help the real estate world automate space planning processes reducing costs and utilizing a specific area in the most time- and cost-efficient way.

Despite the high initial space management software cost, this type of solution will only increase adoption among the commercial real estate market players.

Proptech startups providing workspace planning solutions offer limitless opportunities and much value that completely eliminates cost restraints and makes building your own space management startup a great business initiative to start with in 2021.

UtilizeCore

Established: 2016

Raised funds: $5.3M

Headquarters: New York, United States

Employees: 50

UtilizeCore, one of the leading real estate startups, is a service management automation platform founded by Johnny Zhu and Ryan Gottfried in New York, the US.

The platform provides all-in-one solutions for the service management supply chain empowering SaaS subscribers to procure subcontractors, and deliver quality service.

Let’s overview the quick facts about UtilizeCore:

• $5.3M acquired by UtilizeCore in 2021 to help property managers with mundane task automation
• 125,311 monthly check-ins
• 51.238 companies benefit from using the service management automation platform by UtilizeCore
• 2,337,839 work orders have been processed for the last years
• 24 integrations are provided for the UtilizeCore platform’s clients.

UtilizeCore Quick Facts

What Companies Trust UtilizeCore

BrightView, Cushman&Wakefield, Yellowstone Landscape, and RAEL Fire Protection LLC leverage the benefits of using the UtilizeCore automated platform for their business workflows.

What Brands Trust UtilizeCore

Is It Viable to Build Your Own Service Management Automation Startup?

UtilizeCore, one of the leading New York real estate startups, is a great example of a successful SaaS platform for property management operations giving all parties lots of opportunities to reduce mundane tasks and automate most processes.

The Grand View Research states that the North American property management software market was valued at over $2B in 2021 and is projected to reach up to $3.85B by 2028.

These statistics show that more and more organizations tend to invest large funds into property management software to have all those for their daily business operations.

This means that building new real estate tech companies dedicated to property management and service automation is a great and profitable business initiative in 2021.

VergeSense

Established: 2017

Raised funds: $22.6M

Headquarters: San Francisco, California, United States

Employees: 50

VergeSense is one of the market-leading real estate startups founded by Dan Ryan in San Francisco, United States.

The company provides advanced workplace analytics platform recognized by dozens of giant market players like JLL, Cisco, Autodesk, and others.

The key VergeSense platform’s features include:

• Building-to-desk person count system
• Agile seating solutions
• Room reservations
• Best-in-class AI sensors
• All-in-one operating system for workplace management
• Next-gen computer vision and deep learning technologies for smart analytics.

A great example of the leading real estate tech startups, VergeSense has made its way from a small workplace analytics tool startup to a recognized partner and magic wand for multiple big players in the Commercial Real Estate market.

For the last two years, the company has successfully passed three funding rounds acquiring $9 mln in the Series A round and $12 mln in the Series B round supported by such vendors as JLL, Spark, Allegion Ventures, MetaProp, Y Combinator, Pathbreaker Ventures, and West Ventures.

Let’s now get acquainted with the 5 quick facts about VergeSense, one of the top real estate tech companies 2021:

• 40 mln square feet are covered with the startup’s innovative technology systems
• 29 different countries are leveraging the benefits from using the VergeSense’s platform
• 26 Fortune 500 organizations have partnered with VergeSense
• $22.6M funds have been acquired through several funding rounds for the last couple of years.

Vergesense Quick Facts

Here are the words of Richard Bettina, Director at North American Real Estate Portfolio, on partnering with VergeSense, one of the leading real estate startups San Francisco:

What Brands Believe in VergeSense

RBC, Quicken Loans, Jones Lang LaSalle (JLL), Cisco, Fresensius, Rapid7, and Autodesk make the list of the most well-known organizations that use VergeSense market-leading technologies.

Brands That Believe in VergeSense

Wrapping Up

We hope our list of the leading proptech startups will impress you and provide lots of transparent insights into the investment prospects of the current real estate market.

The core mission of our blog post is to get out a message that innovative property tech solutions revolutionizing the way brokers, companies, and customers interact are a great opportunity to try and launch your own startup.

In case you are looking for a software development partner to help build or improve your property tech product, Ascendix Tech will be glad to be on duty for that.

For the last 20 years, we have been helping companies deliver their business ideas through feature-rich proptech software, currently used by thousands of users.

Check our case studies and contact us to get a ball-park estimate for your project.