April kicked off the second quarter of 2022, and with it the proptech market saw a number of funding rounds and product launches focused on mortgage processing and environmental reporting.
While there was still a significant amount of activity related to property management and rental services, it seems that the approval of Desktop Appraisals and Earth Day-inspired news made this past month a bit different than the previous few.
Key highlights of this ESG (Environmental, Social, Governance) trend included the launch of Measurabl’s real estate ESG monitoring platform and RET Ventures‘ new ESG-focused Housing Impact Fund.
Fannie Mae and Freddie Mac‘s recent permanent approval of desktop appraisals also caused a series of product launches and partnerships, highlighted by MISMO’s new e-Eligibility exchange and Diakrit‘s recent acquisition of real estate visual asset firm Virtuance.
The news doesn’t stop there. Below I’ve listed the biggest stories, news and activity around proptech industry for April.
Enjoy this month’s PropTech Retrospect.
Property Management/Smart home
- Dwellwell emerges from stealth with $12M seed for its property “Check Engine Light” AI sensor technology: “Dwellwell is attempting to provide landlords with a “Check Engine Light” for residential properties. Dwellwell accomplishes this with a single device, plugged into the wall, that is filled with sensors and uses artificial intelligence to monitor a home’s health and maintenance needs.” (Apr. 6)
- RentRedi raises $12M Series A, plans to scale landlord rental and management software: “Originally created by Ryan as a way to make finding and signing apartments easier for renters, the product soon evolved when he saw the complicated, manual processes that landlords were handling on their end.” (Apr. 13)
- PassiveLogic raises $15 million from Brookfield Growth (Apr. 12)
- Serendipity Labs announces flexible office proptech subsidiary (Apr. 19)
- Stonal raises $22M, hires Robin Rivaton as CEO to expand in Europe: “The company says its proprietary AI-powered applications read, checks and sorts all data, documents and plans, and is open to an unlimited number of employees, supplier and partners.” (Apr. 27)
- Home energy monitoring firm Sense just raised $105M (Apr. 27, TechCrunch)
Real Estate/Property Investment
Rentals/Letting
- TheGuarantors raises $50M Series C, plans to supplement rental services with new products: “TheGuarantors targets millions of American households nationwide, stating that 46 million rental households have a collective $65 billion locked away in security deposits. … The company also noted that, despite turbulence in the market from COVID, it was able to triple revenue in 2021.” (Apr. 25)
- Casai acquires vendor LoopKey to ensure hardware supply for guest access tech (Apr. 4)
- Beanstock raises $12.9M Series A for buy-to-let marketplace (Apr. 15)
- Gravy launches with $2.6 million seed to help renters save money for first home: “The startup’s flagship feature, Gravy Rewards, enables members to earn 5{4e908c29df01d999f087e4f922633998e2ded1c72f05851cd6252034960daee5} of their rent each month to put towards their future home purchase, with funds stored in a digital rewards wallet that can only be redeemed for the purchase of a house.” (Apr. 26)
- PropTech Startup Tour24 Closes $5.6M Series A (Apr. 5)
Lending
ESG/Smart home
VC Funds News
- RET Ventures launches ESG-focused Housing Impact Fund: “The large real estate tech investment firm also noted that an important goal of the fund will be broadening the sector’s approach to ESG, utilizing a more holistic focus that addresses climate change and environmental risks.” (Apr. 22)
M&A News
- Redfin closes $138M deal for mortgage lender: “Redfin completed its acquisition of Bay Equity Home Loans, paying $137.8 million for the mortgage lending operation in its quest to provide customers “a one-stop shop” where they can buy, sell, rent and finance a home, according to a news release from the company.” (Apr. 8)
Partnerships
Housing Market
PropTech Abroad
FinLedger Q&As
Tech Nest: The PropTech Podcast with Nate Smoyer
Partner content
Other notable proptech news
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