PropTech Pulse: October 2021

Matthew Dixon

·

Follow

3 min read

·

Nov 16, 2021

--

Listen

Share

Public Markets

• WeWork began trading on the NYSE under ticker symbol WE, following the completion of its merger with BOWX, a SPAC sponsored by Vivek Ranadivé’s Bow Capital Management. (New York Times)

Acquisitions

• JLL (NYSE: JLL) agreed to acquire Building Engines, a Boston, MA-based building operations platform for commercial real estate, for approximately $300 million in cash. Building Engines raised over $60 million from firms including Wavecrest Growth Partners, River Cities Capital, MassMutual Ventures and Camber Creek Ventures. (PR Newswire)
• StoicLane agreed to acquire Lender’s Valuation Services, a Roseville, CA-based appraisal management company, for an undisclosed amount. (Business Wire)
• HqO agreed to acquire Office App, an Amsterdam, Netherlands-based workplace experience and analytics platform, for an undisclosed amount. (Global Newswire)
• VTS agreed to acquire Lane, a Toronto, Canada-based workplace experience management platform, for $200 million. Lane raised approximately $14 million from firms including Round13 Capital, Alate Partners, Panache Ventures and TechStars x Colliers’ PropTech Accelerator. (Business Wire)

Fundings

• Cover, a Los Angeles, CA-based modular home startup, raised $60 million in Series B funding. Gigafund led, and was joined by Valor Equity Partners, Founders Fund, General Catalyst, Lennar, Fifty Years, Naval Ravikant, Chris Sacca and Bruce Richards. (Tech Crunch)
• Kebony, an Oslo, Norway-based wood modification technology company, raised $34 million in funding from Jolt Capital and Lightrock (Tech Crunch)
• Maxwell Financial Labs, a Denver, CO-based platform for residential mortgage lenders, raised $52.5 million in additional Series B funding ($28.5 million in equity and $24.0 million in debt). Fin VC led, and was joined by Wells Fargo Strategic Capital, Prudence, Rotor Capital and TTV Capital (Bloomberg)
• CompanyCam, a Lincoln, NE-based documentation and communication platform for contractors, raised $30 million in Series B funding. Insight Partners led, and was joined by JMI Equity and WndrCo. (PR Newswire)
• AirGarage, a San Francisco, CA-based provider of parking garage management software, raised $12.5 million in Series A funding. A16Z led, and was joined by Floodgate, Founders Fund and Abstract Ventures. (Tech Crunch)
• UpEquity, an Austin, TX-based digital mortgage company, raised $50 million in a mixed debt and equity round ($30 million in debt and $20 million in Series B equity). S3 Ventures led, and was joined by Next Coast Ventures, BP Capital Management, Alumni Ventures, Gaingels, Launchpad Capital and Early Light Ventures (Tech Crunch)
• Proportunity, a London,UK-based neolender focused on residential real estate, raised $150 million in a mixed debt and equity round ($143 million in debt and $7 million in Series A equity). VentureFriends led, and was joined by Kibo Ventures, Anthemis, Entrepreneur First and Amro Partners. (Tech Crunch)
• Zeus Living, a San Francisco, CA-based flexible furnished housing startup, raised $55 million. SIG led, and was joined by Initialized Capital, CEAS Investments, TI Platform, NFX, and Opendoor’s Eric Wu. (Tech Crunch)
• SwiftConnect, a Stamford, CT-based office building operations platform, raised $9 million. JLL Spark and Navitas Capital co-led, and were joined by World Trade Ventures, Concrete Ventures, Silvertech Ventures, 1414 Ventures and NetOne. (Business Wire)
• Blank Street, a New York, NY-based operator of micro speciality coffee shops, raised $25 million in Series A funding co-led by General Catalyst and Tiger Global. (Tech Crunch)
• Plume, a Palo Alto, CA-based provider of connected home SaaS, raised $300 million led by SoftBank at a $2.6 billion valuation. (Tech Crunch)
• Convex, a San Francisco, CA-based commercial real estate services platform, raised $39 million in Series B funding. The round was co-led by Fifth Wall, Emergence Capital, and GGV. (Company Release)
• CostCertified, a Calgary, Canada-based platform for residential construction projects, raised $8.45 million in Seed funding. FUSE led, and was joined by Y Combinator, I2BF Global Ventures and Soma Capital. (Tech Crunch)
• Jurny, a Los Angeles, CA-based hospitality software platform, raised $9.5 million led by Mucker Capital. (PR Newswire)
• Built Technologies, a Nashville, TN-based construction finance platform, raised $125 million in Series D funding at a $1.5 billion valuation. TCV led, and was joined by Brookfield Technology Partners, 9Yards Capital, XYZ Venture Capital and HighSage Ventures. (Business Wire)