What Matters This Week - 5.20.23

So many deals and new leaders at WeWork and Latch

What Matters This Week - articles, news, and fundings that mattered this week in PropTech. No hype or marketing.

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Fundings:

• SageSure, an insurance platform for Resi and CRE, raised a $250M round co-led by Amwins and Flexpoint, at a $1B+ valuation.

• Avenue One, a tech platform for property management services, raised a $100M round led by WestCap, at a $1B valuation.

• Kelvin (f.k.a. Radiator Labs), a retrofit heating efficiency startup, raised a $30M A round led by 2150.

• Obie, an embedded MF insurance startup, raised a $25.5M B round led by Battery.

• SmartAC.com, an HVAC and plumbing IoT startup, raised a $21M round.

• HouseAccount, a Resi PMS and vendor platform, raised a $15.1M round.

• SWAPP, an Israeli AI construction documents software, raised an $11.5M A round led by Eurazeo.

• Quilt, an efficient heat-pump developer, raised a $9M Seed round co-led by Lowercarbon and Gradient.

• Orbital Witness, a UK diligence startup, raised a £7.5M A round led by Parker89.

• Bloom, a Canadian home equity platform for seniors, raised a CA$7M A round led by SixThirty.

• Ownify, a no-mortgage homeownership platform, raised a $7M Seed round led by Lobby Capital.

• Synco, a messaging platform for property managers, raised a $5.5M Seed round.

• Planera, a construction management platform, raised a $5.4M Seed round.

• RE-OS, a Turkish Resi CRM, raised a $5M round from Grifon.

• Northstar, a building system without wood, steel, or concrete, raised a $5M round.

• Hotel Manager, a British guest interface platform, raised a €3.6M Seed round led by Fuel.

• Tangible, a construction material sustainability tracking platform, raised a $3M Seed round co-led by Foundamental and Fifty Years.

• Hex Energy, a heat pump and solar system solutions provider, raised a £250K Debt round from MEIF.

• Aldagram, a Japanese construction management app, raised a Seed round led by Panasonic.

News:

• Resi solar provider Suntuity to go public through SPAC.

• Global RE software market forecast to grow by $5.22B by 2026.

• WeWork CEO Sandeep Mathrani is out.

• Ring’s founder will become Latch’s CEO after selling his startup to the company.

• Swedish firm Procuritas acquires PropTech Sweden.

• UK’s Strike acquires tech-enabled agency and competitor Purblebricks for £1.

• Inman survey reveals PropTech’s biggest draw is agent support.

Articles:

• ‘The “return to the office” won’t save the office.’

• How PropTech can help soothe recessionary fears.

• Putting the Tech back in PropTech by Lightspeed.

• PropTech’s Brick-and-Mortar retail moment.

Top-tech read of the week:

• Finding the White Hot Center by NfX.

Fun with AI:

• Since everyone else is having fun with him, I decided to play with “designed by Wes Anderson”. Here is a hotel:

  

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Thanks for reading! If you think I missed something important, send me a note and I’ll get it in next week’s edition.