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eal-estate tech startups aim to make tasks from property management to homebuying more efficient. We surveyed 10 venture capitalists to identify the hottest proptech companies of the year. Some firms are modernizing real estate by digitizing analog processes, sometimes using AI.
The frozen housing market meant tough times for the proptech industry. As the market starts to thaw, however, things are looking up for firms that seek to use technology to digitize, automate, or otherwise improve legacy processes in residential and commercial real estate.
Business Insider asked 10 venture-capital investors who focus on real-estate and construction technology to nominate the most exciting, promising, and talked-about proptech startups in 2024. The 20 companies on the final list reveal the breadth of the proptech universe.
Take Steadily, a firm trying to digitize insurance underwriting for real-estate investors, a process that has historically taken a lot of paperwork and time – only to result in policies with steep premiums. Another startup, Arcol, aims to make producing 3D architectural drawings faster and easier. A third, Conservation Labs, uses an AI-powered sensor to detect if water is leaking or being wasted in a building to prevent damage and protect the environment.
In the first half of 2024, venture funding for proptech companies dropped 14.3% from the same period a year prior. Funding totaled $4.37 billion, down from $5.1 billion during the same period in 2023 and dramatically less than the $13.13 billion invested in the first six months of 2022.
Certain niches, however, hold promise. In 2024, VC investments in AI-powered proptech companies reached a record $3.2 billion. Here are 20 of the buzziest proptech companies in 2024, presented alphabetically:
Agora is a financial software firm that helps real-estate investors process payments, keep track of tax records, raise money, and generally organize data. The firm raised a $34 million Series B round in May and said it helps landlords and developers with much-needed modernization.
Arcol is a web browser-based design tool predominantly used by architects to create and collaborate on 3D models of buildings and explore their feasibility. Architects have traditionally relied on software design tools like AutoCAD and Revit, which require paid licenses and aren't as collaborative.
Branch Furniture sells office products, like chairs and desks, to businesses and directly to consumers. The company's first iteration sold office furniture the old way: B2B, catering to employers outfitting a huge space who would often purchase items in bulk.
BuildCasa helps California homeowners subdivide their lots – thanks to new state laws – and then connects them with local builders who pay the homeowners for a portion of their land and then build new housing on it. The national housing crisis is particularly acute in California, which recently passed a series of laws to encourage more building.
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