What are the fundraising trends in the Prop Tech market?
In our Prop Tech market deck, you will find everything you need to understand the market
SUMMARY
We analyzed publicly disclosed equity rounds raised by pure-play PropTech companies between January 2024 and May 2026, using a $300K minimum disclosed round size and excluding construction tech, generic fintech or insurtech, debt-only financings, undisclosed rounds, and companies that are not mainly focused on real-estate operation, management, leasing, transaction, data, or building-operation software.
The dataset shows a PropTech market that expanded strongly in the last complete year, rising from about $881M across 19 qualified deals in 2024 to about $1.23B across 29 deals in 2025.
The early 2026 picture is softer on dollars but stronger on formation. Through May 2026, the PropTech market has produced 16 qualified deals and about $162M of equity funding, compared with 9 deals and about $190M over the same early-year window in 2025.
Funding activity is currently being driven by more deals rather than larger rounds. The average 2026 year-to-date round is about $10M, and the median is about $5.8M, which is well below the comparable early-2025 average of about $21M and median of about $16M.
Capital remains concentrated even when no true equity megaround appears. The top 3 deals captured 67.6% of capital in 2024, 61.2% in 2025, and 64.2% through May 2026.
The PropTech market is still late-stage-weighted by dollars. In 2025, Series B and later rounds captured about 81% of capital, and through May 2026 late-stage and growth-style rounds captured about 73% of capital.
At the same time, startup formation is clearly improving. First financings rose from 15.8% of deals in 2024 to 41.4% in 2025 and 62.5% through May 2026.
Leasing Technology is the broadest current activity pool. It leads the 2026 year-to-date dataset with 6 deals and 31.1% of capital, while Real Estate Data Tools are close behind with 5 deals and 28.9% of capital.
Europe and the Middle East are gaining visibility in the freshest data. Europe leads 2026 year-to-date capital and deal count, while the Middle East has moved from a small 2025 share to 24.1% of capital through May 2026.
The core interpretation is that the PropTech market is mature at the top and experimental underneath. Large checks still go to companies with workflow ownership, distribution, regulatory permission, or asset-level financial impact, while smaller seed rounds are probing AI-native leasing, brokerage, data, title, tax, underwriting, and property-management workflows.
This chart, featured in our Prop Tech market deck, illustrates revenue distribution by customer segment in the proptech market
Is more or less capital going into the PropTech market?
More capital went into the PropTech market in the last complete year, but less capital is going into the PropTech market so far in 2026 than over the comparable period in 2025. The clean full-year comparison is positive: qualified equity funding rose from about $881M in 2024 to about $1.23B in 2025, an increase of roughly 39%.
The fresher year-to-date signal points the other way. From January through May 2026, the PropTech market raised about $162M across 16 deals, compared with about $190M across 9 deals over the same early-year period in 2025.
The honest interpretation is that the PropTech market expanded in 2025, but early 2026 is not yet confirming another step up in capital intensity. It is showing more funded companies, but not more dollars.
The 2025 increase was driven by major late-stage platform checks, including Vantaca at about $300M, EliseAI at about $250M, and Entrata at about $200M. Through May 2026, there are no $50M-plus equity megarounds, and the largest round is Dwelly at about $43M.
The practical takeaway is simple: the PropTech market is not collapsing, but its current funding mix is smaller, earlier, and less dependent on late-stage whales than the full-year 2025 headline suggests.
Is PropTech funding driven by more deals or larger rounds?
PropTech funding is currently being driven by more deals, not larger rounds. Deal count rose from 19 in 2024 to 29 in 2025, while the average round size declined slightly from about $46M to about $42M.
The year-to-date comparison makes the point even clearer. Through May 2026, the PropTech market recorded 16 deals, versus 9 over the same early-year period in 2025, but average round size fell from about $21M to about $10M.
The median round tells the same story. It moved only modestly from $14M in 2024 to $15M in 2025, then fell to about $5.8M through May 2026. That means the typical funded PropTech company is not raising more money; more companies are raising smaller checks.
This matters because the average is not a reliable benchmark in the PropTech market. A few large platform rounds can make the market look richer than it feels for most founders.
For deeper benchmarks on PropTech deal sizes, medians, and round distributions, see the full PropTech market report.
Is PropTech capital moving toward later-stage or earlier-stage companies?
PropTech capital is still mostly moving toward later-stage companies, but the deal count is moving earlier. Through May 2026, late-stage rounds, defined here as Series B and growth equity, captured about 73% of capital, while seed and unknown-stage rounds represented about 63% of deals.
That split is the core signal. The PropTech market is funding many early experiments, but most dollars still go to companies with more proof.
The full-year comparison confirms the pattern. In 2024, Series B and later rounds captured about 93% of capital. In 2025, Series B and later rounds still captured about 81% of capital, even though seed and Series A activity became more visible.
The early 2026 market looks especially barbell-shaped. Seed rounds dominate deal count, but larger checks went to companies such as Dwelly, Ownwell, Stake, Giraffe360, and eGuarantee, which are follow-on, Series B, or growth-style financings.
So the PropTech market is not abandoning early-stage startups. It is letting many new companies enter, while reserving serious capital for businesses with distribution, workflow depth, or asset-level financial impact.
This chart, included in our Prop Tech market deck, compares the main business model options for proptech property management platforms
Is the PropTech market maturing or still experimental?
The PropTech market is maturing at the top and still experimental underneath. The maturity signal is that most capital continues to go to follow-on rounds, late-stage rounds, and companies embedded in real-estate operating workflows.
Full-year 2025 looked like a maturing market because capital clustered around scaled systems of record and workflow platforms. Growth equity and Series D+ rounds alone represented about 65% of 2025 capital.
But the PropTech market is not mature all the way down. First financings rose from 15.8% of deals in 2024 to 41.4% in 2025 and 62.5% through May 2026.
The best reading is a two-layer structure. The upper layer is selective and rewards recurring workflows for landlords, property managers, brokers, investors, and building operators. The lower layer is AI-heavy and seed-driven, with new companies trying to rebuild leasing, brokerage, title, underwriting, transaction intelligence, and property-management operations.
That means the PropTech market is not immature overall. It is mature enough to fund proven winners and still open enough to finance new AI-native challengers.
Are new startups still entering the PropTech market?
Yes, new startups are still entering the PropTech market, and the entry signal is stronger in 2026 than it was in either 2024 or 2025. Through May 2026, first financings represent 62.5% of qualified deals.
The progression is hard to ignore. First financings were only 3 of 19 deals in 2024, then 12 of 29 deals in 2025, and 10 of 16 deals through May 2026.
That suggests company formation has accelerated materially, especially around AI-native brokerage tools, real-estate data infrastructure, leasing workflows, title records, transaction intelligence, and property operations.
The caution is that new entrants are still raising smaller checks. First financings captured only 22.7% of capital through May 2026, far below their 62.5% share of deal count.
For the broader view of new PropTech startups, first financings, and category formation, see the PropTech market deck.
Are more investors entering the PropTech market?
More credible investors appear to be entering the PropTech market, but repeat specialist conviction remains limited. The number of unique tier-1 investors rose from 11 in 2024 to 21 in 2025, and 17 have already appeared through May 2026.
That is a strong breadth signal. It means the PropTech market is attracting generalist venture funds, strategic investors, banks, real-estate operators, and specialist PropTech investors.
But investor breadth is not the same as repeat conviction. In 2024, only RET Ventures, Nuveen, and Navitas appeared more than once. In 2025, only Fifth Wall and JLL Spark appeared more than once. Through May 2026, no disclosed investor appears in more than one included deal.
The practical takeaway is that a marquee investor in a PropTech round is still a meaningful company-level validation signal. It is not yet proof that a fund is aggressively accumulating exposure across the whole PropTech market.
This chart, included in our Prop Tech market deck, illustrates yearly funding for proptech startups
Are top investors getting more or less active in PropTech?
Top investors are getting broader in presence but less repeat-active inside any single year. The PropTech market attracted more tier-1 names in 2025 and already has a strong tier-1 count in 2026, but repeat appearances by the same top investors are rare.
The best comparison is investor concentration, not total investor count. In 2024, three investors had more than one qualifying deal. In 2025, only two did. Through May 2026, none did.
That means top-investor activity is becoming less concentrated. More high-quality investors are willing to participate, but they are spreading across isolated opportunities instead of repeatedly backing the category in a visible, systematic way.
The strongest top-investor signal is therefore the type of company being backed. Tier-1 investors are showing up around operating systems, AI-native workflow platforms, data infrastructure, title and property records, leasing automation, and property-management consolidation models.
Which PropTech subcategories are gaining momentum?
The PropTech subcategories gaining momentum are Leasing Technology, Property Operations Software, Real Estate Brokerage Software, and selective Real Estate Data Tools. The strongest recent deal-count momentum is in Leasing Technology and Real Estate Data Tools.
Leasing Technology has the clearest current activity signal. It represented 4 deals in 2024, 5 deals in 2025, and already 6 deals through May 2026. It also leads 2026 year-to-date capital share at 31.1%.
Real Estate Brokerage Software is gaining from a very low base. The category had one deal in 2024, three in 2025, and three more through May 2026, with funded companies focused on agent workflows, listing media, fraud prevention, lead handling, and communications.
Real Estate Data Tools show a more nuanced rebound. Full-year capital fell from $85M in 2024 to about $28M in 2025, but through May 2026 the category has already reached about $47M, which suggests investor attention is returning to workflow-native and proprietary-data infrastructure.
We cover these subcategory shifts in more detail in the market report covering PropTech category momentum.
Which PropTech subcategories are losing momentum?
The clearest PropTech subcategory losing recent momentum is Building Operations Systems. It had 3 deals and about $60M in 2024, then 4 deals and about $97M in 2025, but no qualifying equity deals through May 2026.
That does not mean building energy, controls, or facilities software is structurally unattractive. It means that under the strict PropTech definition used here, the freshest equity activity has moved closer to transactions, leasing, property data, brokerage workflows, and property-management platforms.
Traditional Real Estate Data Tools also lost momentum in 2025 when they did not own workflow execution. The category kept its deal count but saw capital fall sharply, which suggests investors were less willing to fund generic analytics layers.
Property Management Systems is not losing capital importance, but it may be losing breadth. PMS was the largest capital category in both 2024 and 2025, yet through May 2026 it has only one qualifying deal, Dwelly, even though that single deal captured about 27% of capital.
The practical takeaway is that the PropTech market is rotating away from thin tools and toward software with stronger workflow ownership. If a subcategory cannot show direct operating leverage, it is harder to finance at scale.
This chart, included in our Prop Tech market deck, looks at Compass’s strategy in proptech
Which regions are gaining momentum in PropTech funding?
Europe and the Middle East are gaining the most visible momentum in PropTech funding. Through May 2026, Europe leads the dataset with about $64M and 6 deals, while the Middle East has about $39M across 3 deals.
Europe’s momentum is meaningful because it includes both early rounds and scale-up rounds. Dwelly, Giraffe360, VerbaFlo, GoCanopy, MARC, and Lystio show that Europe is not merely producing small experiments.
The Middle East is gaining from a smaller base. In 2025, it represented 4.2% of full-year capital and 10.3% of deals. Through May 2026, it represents 24.1% of capital and 18.8% of deals.
Stake, Smart Bricks, and Daleel show that Middle Eastern PropTech funding is tied to real-estate investment access, verified property intelligence, underwriting, and cross-border capital formation, not just local property software.
For ongoing regional tracking across Europe, North America, the Middle East, Asia-Pacific, and Latin America, see the full market view on PropTech regional momentum.
Which regions are losing momentum in PropTech funding?
North America is losing relative momentum so far in 2026, while Asia-Pacific remains undercapitalized despite more deal formation. North America is still the deepest scale-capital region on the full-year 2025 evidence, but its 2026 year-to-date share has fallen sharply.
In full-year 2025, North America captured about $982M, or 80.1% of total PropTech capital. Through May 2026, North America has about $47M, or 28.7% of capital.
This should not be overstated as a permanent decline. The 2025 North American lead was driven by several large later-year checks, including Vantaca, EliseAI, Entrata, Venn, Wander, and Runwise.
Asia-Pacific is not losing momentum by deal count. It had one deal in 2024, two deals in 2025, and already four deals through May 2026. But its capital share is still only 7.7% in the 2026 year-to-date dataset, with a regional median round of about $2.3M.
Latin America is also not a visible driver of the freshest PropTech funding window. It appeared in 2025 through Lastro, but has no qualifying deal through May 2026.
Is PropTech becoming more global or regionally concentrated?
The PropTech market is becoming more global by deal count, but capital remains regionally concentrated around whichever geography produces the largest platform rounds. That distinction is essential.
In 2024, North America and Europe dominated almost everything. In 2025, the active region set broadened to include North America, Europe, the Middle East, Latin America, and Asia-Pacific, but North America captured about 80% of capital.
The 2026 year-to-date picture is more globally balanced. Europe has 39.5% of capital, North America has 28.7%, the Middle East has 24.1%, and Asia-Pacific has 7.7%.
That looks more distributed than 2025, but it is still early and there are no $50M-plus equity rounds yet. One or two late-stage North American rounds could quickly restore North America’s capital dominance.
The best read is that PropTech is globalizing in formation, discovery, and early investor attention before it globalizes in scale capital.
This chart, included in our Prop Tech market deck, shows how smart building platforms have driven growth in the proptech market over time
Is PropTech capital moving toward proven winners or new opportunities?
PropTech capital is still moving mostly toward proven winners, even though deal count is moving toward new opportunities. In 2025, follow-on companies captured 97.3% of capital, and through May 2026 they still captured 77.3% of capital.
The opposite is true by deal count. Through May 2026, first financings represent 62.5% of deals, which means the PropTech market is clearly open to new startups.
The gap between those two numbers is the key. Investors are testing many new opportunities cheaply while reserving large checks for companies with existing traction, recurring workflows, or category ownership.
The largest 2026 rounds are not mostly brand-new startups. Dwelly, Stake, Ownwell, Truva, eGuarantee, and Giraffe360 are follow-on or later-stage financings tied to consolidation, tax appeals, investment access, lease bonds, resale workflows, or listing infrastructure.
The deeper analysis of the PropTech market tracks which companies are raising follow-on capital and which new entrants still need to prove they can raise again.
Is the PropTech market becoming winner-takes-most?
Yes, the PropTech market is winner-takes-most in capital allocation, but not in company formation. Capital remains highly concentrated in the largest rounds, while deal count is spread across many companies and subcategories.
The top 3 rounds captured 67.6% of capital in 2024, 61.2% in 2025, and 64.2% through May 2026. That level of concentration means annual funding totals are shaped by a few winners.
The bottom half of deals captured only 5.6% of capital in 2024, 4.8% in 2025, and 10.6% through May 2026. Most companies therefore do not meaningfully affect aggregate funding totals.
The nuance is that winner-takes-most does not mean only a few startups are being formed. Through May 2026, 16 deals have already occurred and 10 are seed rounds.
So the winner-takes-most dynamic applies to dollars, not entrepreneurial activity. Many PropTech companies can enter, but only a small number can access the capital required to become category-defining platforms.
Is the next wave of PropTech winners becoming visible?
Yes, the next wave of PropTech winners is becoming visible, but more through themes than through fully proven company outcomes. The strongest emerging themes are AI-native data infrastructure, leasing and resident workflow automation, brokerage productivity software, and property-management consolidation.
The 2026 seed cohort is especially useful because it shows where new formation is happening. GoCanopy, Breezy, Agentsy, Daleel, Dono, MARC, Smart Bricks, Lystio, VerbaFlo, and Helium cluster around AI, proprietary data, title records, underwriting, institutional memory, leasing automation, agent productivity, and rental operations.
The later-stage 2026 rounds show what investors are already willing to underwrite at larger size. Dwelly raised about $43M for property-management consolidation, Ownwell raised about $30M of equity for property-tax appeals, Stake raised $31M for real-estate investment access, and Giraffe360 raised $10M for listing media infrastructure.
The caution is that visibility is not the same as proof. Many seed companies are raising small rounds, and the year-to-date median is only about $5.8M.
The next wave is visible as a map of where capital is probing: real-estate AI that owns proprietary workflows, data infrastructure that powers decisions, and operating platforms that replace labor or coordinate transactions.
As this chart shows, and as featured in our Prop Tech market deck, search interest in proptech has been climbing steadily
Is the PropTech funding landscape fragmenting or consolidating?
The PropTech funding landscape is fragmenting by investor base and startup formation, while consolidating by capital outcomes. Many investors and companies are participating, but most dollars still end up in a small number of rounds.
Investor behavior points to fragmentation. In 2024, only three investors appeared more than once. In 2025, only two did. Through May 2026, no disclosed investor appears in more than one included deal.
Company formation also points to fragmentation. First financings increased from 15.8% of deals in 2024 to 41.4% in 2025 and 62.5% through May 2026.
Capital allocation points to consolidation. The top 3 deals captured about two-thirds of capital in 2024, 2025, and the 2026 year-to-date period.
The practical interpretation is asymmetric. The PropTech market is fragmented at the entry level and consolidated at the funding-leader level.
Where is investor attention shifting in PropTech?
Investor attention in the PropTech market is shifting toward AI-native workflow infrastructure, leasing automation, real-estate data systems, brokerage productivity, and property-management consolidation. The shift is away from broad generic PropTech narratives and toward software that owns specific recurring workflows.
The category data shows the change. In 2024, Property Management Systems dominated capital with 69% of dollars. In 2025, PMS still led, but its share fell to about 42%, while Leasing Technology rose to about 25% and Property Operations Software rose to about 20%.
The 2026 year-to-date data shows an even clearer shift toward leasing and data. Leasing Technology has 6 deals and 31.1% of capital, while Real Estate Data Tools have 5 deals and 28.9% of capital.
The company-level pattern confirms the same point. Breezy, Agentsy, and Giraffe360 target broker productivity. Dono, Daleel, GoCanopy, Smart Bricks, and Ownwell target data, records, underwriting, tax, and intelligence layers. VerbaFlo, Truva, eGuarantee, Stake, Lystio, and Helium target leasing, rental access, or property transactions.
For real-time tracking of how investor attention is moving across PropTech categories, regions, stages, and company types, see the PropTech market report.
All the funding deals in the PropTech market from 2024 to Apr 2026
The table below lists every disclosed funding round in the supplied PropTech dataset between January 2024 and April 2026, covering software, data, leasing, brokerage, property-management, building-operations, and property-operations companies across North America, Europe, Asia-Pacific, the Middle East, and Latin America.
Each row shows the company, the fundraising date, what the company does, its category, the funding stage, the round size, the region, whether it was a first financing or a follow-on, the tier-1 investor if any, and the announcement source. For the broader investability view, see our PropTech market deck.
| Company | Date | What they do | Category | Stage | Deal size | Region | First/Follow-on | Tier 1 investor(s) | Source |
|---|---|---|---|---|---|---|---|---|---|
| Helium | Apr 2026 | Tech-led rental discovery and rental-management platform for gated homes in Bengaluru, leasing homes from owners and reducing tenant upfront deposits based on credit profile. | Leasing Technology | Seed | $0.58M | Asia-Pacific | First financing | None institutional; high-signal operator angels include Kunal Shah and Albinder Dhindsa | Economic Times |
| Giraffe360 | Mar 2026 | Camera-plus-software and AI platform for real-estate listing media, including photos, floor plans, virtual tours, video, property websites, and virtual staging. | Real Estate Brokerage Software | Series B | $10M | Europe | Follow-on | Founders Fund | Tech.eu |
| VerbaFlo | Mar 2026 | Conversational AI platform for real-estate operators, automating leasing enquiries, renewals, resident engagement, and operations communications. | Leasing Technology | Seed | $7M | Europe | First financing | Pi Labs | UKTN |
| Dwelly | Feb 2026 | AI-enabled rollup of UK letting agencies, digitizing tenant-landlord matching, maintenance, rent collection, and property-management workflows. | Property Management Systems | Growth Equity | $43.1M | Europe | Follow-on | General Catalyst | Sifted |
| Lystio | Feb 2026 | AI-native real-estate portal for property search, discovery, listings, and demand generation across residential and commercial property types. | Leasing Technology | Seed | $0.55M | Europe | First financing | None disclosed | EU-Startups |
| Ownwell | Feb 2026 | Property-tax monitoring and appeal platform for homeowners, property owners, and real-estate investors. | Real Estate Data Tools | Series B | $30M | North America | Follow-on | First Round Capital; Left Lane Capital; Intuit Ventures | PR Newswire |
| Stake | Feb 2026 | Regulated digital real-estate investment platform for fractional property ownership and private real-estate funds. | Leasing Technology | Series B | $31M | Middle East | Follow-on | Mubadala; Emirates NBD; STV | Wamda |
| eGuarantee | Feb 2026 | Digital lease bond platform for commercial property leases, replacing traditional bank guarantees and cash deposits for tenants and landlords. | Leasing Technology | Growth Equity | $3.9M | Asia-Pacific | Follow-on | None identified | SmartCompany |
| Smart Bricks | Feb 2026 | AI platform for discovering, underwriting, monitoring, executing, and continuously updating real-estate investment deals. | Real Estate Data Tools | Seed | $5M | Middle East | First financing | Andreessen Horowitz | TechCrunch |
| MARC | Feb 2026 | AI platform for real-estate asset management that reads vendor contracts, extracts terms, links contracts to invoices, detects overbilling, and supports property-operator workflows. | Property Operations Software | Seed | $1M | Europe | First financing | None identified | Tech.eu |
| Dono | Feb 2026 | AI-powered property records and title-search infrastructure that turns fragmented county records into usable ownership data for title, lending, servicing, and real-estate investment workflows. | Real Estate Data Tools | Seed | $6.5M | North America | First financing | Link Ventures | Dono |
| Daleel | Feb 2026 | AI-native real-estate intelligence layer for the GCC, combining verified transaction data, rental contracts, mortgage data, service charges, and live listings into conversational discovery and valuation tools. | Real Estate Data Tools | Seed | $3M | Middle East | First financing | None disclosed | Zawya |
| Agentsy | Feb 2026 | AI platform for Australian real-estate agencies, automating listings, leads, email responses, compliance communications, marketing collateral, and agency workflows. | Real Estate Brokerage Software | Seed | $0.7M | Asia-Pacific | First financing | None identified | SmartCompany |
| Breezy | Feb 2026 | AI operating system for residential real-estate agents, including workflow automation, comps, lead nurturing, client-ready tools, and property development-potential analysis. | Real Estate Brokerage Software | Seed | $10M | North America | First financing | Ribbit Capital; Fifth Wall; DST Global | PR Newswire |
| GoCanopy | Jan 2026 | AI operating system for institutional real-estate investors, turning fragmented deal, tenant, rent-roll, asset-management, and investment documents into searchable institutional intelligence. | Real Estate Data Tools | Seed | $2.4M | Europe | First financing | ISAI; BNP Paribas Développement | GoCanopy |
| Truva | Jan 2026 | Full-stack residential resale platform offering property listings, pricing intelligence, buyer support, financing, paperwork, registration, legal checks, staging, and transaction execution. | Leasing Technology | Unknown | $7.3M | Asia-Pacific | Follow-on | Stellaris Venture Partners | Economic Times |
| Diald AI | Dec 2025 | AI real-estate due-diligence and underwriting platform for CRE investors, lenders, and developers. | Real Estate Data Tools | Seed | $3.75M | North America | First financing | None disclosed | Business Wire |
| dotega | Nov 2025 | Software for homeowner self-management of shared residential properties. | Property Management Systems | Seed | $1.4M | Europe | First financing | HTGF | HTGF |
| Venn | Nov 2025 | Unified operating platform for multifamily operators, covering tours, screening, payments, services, and renewals. | Property Operations Software | Series B | $52M | North America | Follow-on | NOA; CIM Group | Calcalist |
| viboo | Oct 2025 | AI-driven building-management system for energy savings. | Building Operations Systems | Seed | $3.6M | Europe | First financing | None disclosed | EU-Startups |
| Lastro | Oct 2025 | AI and WhatsApp automation platform for real-estate brokers and agencies. | Real Estate Brokerage Software | Series A | $15M | Latin America | Follow-on | Prosus Ventures | Prosus |
| Vantaca | Oct 2025 | AI-first community-association management platform for HOA managers. | Property Management Systems | Growth Equity | $300M | North America | Follow-on | JMI Equity | PR Newswire |
| Arbio | Oct 2025 | AI-native software and operating platform for holiday-rental property managers. | Property Operations Software | Series A | $36M | Europe | Follow-on | Eurazeo | EU-Startups |
| MagicDoor | Sep 2025 | AI property-management software for small landlords and independent owners. | Property Management Systems | Seed | $4.5M | North America | First financing | None disclosed | PR Newswire |
| EliseAI | Aug 2025 | AI platform automating leasing, maintenance, renewals, and housing workflows. | Leasing Technology | Series D+ | $250M | North America | Follow-on | Andreessen Horowitz; Bessemer Venture Partners | Business Wire |
| Buena | Jul 2025 | AI-powered property-management platform and roll-up model for residential portfolios. | Property Operations Software | Series A | $58M | Europe | Follow-on | GV; 20VC | Tech.eu |
| Cohabit | Jul 2025 | Strata and residential-building compliance, data, and benchmarking platform. | Real Estate Data Tools | Seed | $1M | Asia-Pacific | First financing | None disclosed | Startup Daily |
| Lumoview | Jun 2025 | Building-data capture tool that creates floor plans and 3D models for properties. | Real Estate Data Tools | Seed | $3.2M | Europe | First financing | None disclosed | EU-Startups |
| Danim | Jun 2025 | Video and content-creation tool for real-estate agents. | Real Estate Brokerage Software | Seed | $2.2M | Europe | First financing | None disclosed | French Tech Updates |
| TwinKnowledge | Jun 2025 | Built-world and real-estate data insights platform. | Real Estate Data Tools | Seed | $3.7M | Europe | First financing | None disclosed | Tracxn |
| Rentify | Jun 2025 | Rental-management and rent-collection platform for landlords. | Leasing Technology | Seed | $0.5M | Middle East | First financing | None disclosed | Wamda |
| SCALARA | Jun 2025 | Digital property-management software for residential building administrators and associations. | Property Management Systems | Seed | $3.2M | Europe | First financing | None disclosed | EU-Startups |
| aedifion | Jun 2025 | Energy-optimization software for commercial building operations. | Building Operations Systems | Series B | $18.4M | Europe | Follow-on | Eurazeo | Tech.eu |
| Runwise | Jun 2025 | Smart operating system for buildings, focused on heating, energy optimization, and building controls. | Building Operations Systems | Series B | $30M | North America | Follow-on | Menlo Ventures; Fifth Wall; Nuveen Real Estate | PR Newswire |
| Wander | May 2025 | AI-enabled operating platform and branded marketplace for managed luxury vacation rentals. | Property Operations Software | Series B | $50M | North America | Follow-on | Fifth Wall; QED Investors | PR Newswire |
| Entrata | May 2025 | Multifamily operating system for leasing, resident services, payments, and property management. | Property Management Systems | Growth Equity | $200M | North America | Follow-on | Blackstone | Entrata |
| Reneo | Feb 2025 | Building decarbonization and retrofit platform for property owners. | Building Operations Systems | Growth Equity | $45M | Europe | Follow-on | Not disclosed | CRETI |
| Beam | Feb 2025 | Leasing and operations platform for multifamily teams. | Leasing Technology | Series A | $11M | North America | Follow-on | Not disclosed | CRETI |
| Lula | Feb 2025 | Maintenance and repair-management platform for landlords and property managers. | Property Operations Software | Series A | $28M | North America | Follow-on | RET Ventures | CRETI |
| Flent | Jan 2025 | Property-management platform connecting landlords and tenants for premium rentals. | Property Management Systems | Seed | $2M | Asia-Pacific | First financing | None disclosed | Entrepreneur |
| Whale | Jan 2025 | Security-deposit product tied to rental leasing workflows. | Leasing Technology | Seed | $4M | North America | First financing | Camber Creek | Camber Creek |
| Closinglock | Jan 2025 | Fraud-prevention and secure payment/communication software for real-estate closings. | Real Estate Brokerage Software | Series B | $34M | North America | Follow-on | None obvious | Inman |
| Jones | Jan 2025 | Insurance and vendor-compliance verification software for property and CRE teams. | Property Operations Software | Series B | $15M | North America | Follow-on | JLL Spark | PR Newswire |
| qbiq | Jan 2025 | AI planning and layout-generation software for commercial real estate spaces. | Real Estate Data Tools | Series A | $16M | Middle East | Follow-on | Insight Partners; JLL Spark | PR Newswire |
| Rize | Jan 2025 | Rent-now-pay-later and rent-payment platform for landlords and tenants. | Leasing Technology | Series A | $35M | Middle East | Follow-on | None obvious | Wamda |
| Hostaway | Dec 2024 | Vacation rental software and management system for short-term rental operators. | Property Management Systems | Growth Equity | $365M | Europe | Follow-on | General Atlantic; PSG | General Atlantic |
| Predium | Nov 2024 | ESG and decarbonization management software for real-estate and finance companies. | Real Estate Data Tools | Series A | $14M | Europe | Follow-on | Norrsken VC | UVC Partners |
| SwiftConnect | Nov 2024 | Connected access platform for workplace/building access networks. | Building Operations Systems | Series B | $37M | North America | Follow-on | JLL Spark | SwiftConnect |
| Infraspeak | Oct 2024 | Facilities and maintenance management platform used across buildings. | Building Operations Systems | Series B | $19.5M | Europe | Follow-on | None identified | Infraspeak |
| DoorLoop | Oct 2024 | All-in-one property management software for landlords and professional property managers. | Property Management Systems | Series B | $100M | North America | Follow-on | JMI Equity | DoorLoop |
| Tour24 | Oct 2024 | Self-guided apartment touring software for multifamily leasing teams. | Leasing Technology | Series B | $5M | North America | Follow-on | None identified | Tour24 |
| 100 | Oct 2024 | Multifamily rental software and verified renter network. | Leasing Technology | Seed | $5.2M | North America | First financing | MetaProp | Commercial Observer |
| syte | Sep 2024 | AI real-estate data platform for asset digitization and decarbonization. | Real Estate Data Tools | Seed | $5.4M | Europe | Follow-on | None identified | HTGF |
| Cherre | Sep 2024 | Real-estate data management and intelligence platform. | Real Estate Data Tools | Series C | $30M | North America | Follow-on | Nuveen Real Estate | Cherre |
| Re-Leased | Sep 2024 | Commercial property management software with AI capabilities. | Property Management Systems | Unknown | $12.5M | Asia-Pacific | Follow-on | None identified | PR Newswire |
| Optiml | Aug 2024 | Software for sustainable real-estate investment and renovation planning. | Building Operations Systems | Seed | $3.8M | Europe | Follow-on | None identified | EU-Startups |
| EliseAI | Aug 2024 | AI platform automating leasing, communications, and workflows for housing operators. | Leasing Technology | Series D+ | $75M | North America | Follow-on | Sapphire Ventures | EliseAI |
| Cove | Jul 2024 | Property operations and tenant-experience platform for real-estate owners/operators. | Property Operations Software | Unknown | $6M | North America | Follow-on | Nuveen Real Estate; Blackstone | Commercial Observer |
| Findigs | Jun 2024 | Rental screening, underwriting, and application platform for property managers. | Leasing Technology | Series B | $27M | North America | Follow-on | None identified | citybiz |
| Unlockit | May 2024 | Real-estate transaction management platform for professionals. | Real Estate Brokerage Software | Seed | $1.52M | Europe | First financing | None identified | EU-Startups |
| Agora | May 2024 | SaaS for real-estate investment management, investor relations, and operations. | Real Estate Data Tools | Series B | $34M | North America | Follow-on | Insight Partners | PR Newswire |
| Martello | May 2024 | AI environmental risk reports for property transactions and conveyancing. | Real Estate Data Tools | Seed | $1.6M | Europe | First financing | None identified | Online Marketplaces |
| Guesty | Apr 2024 | Property management software for short-term rental and hospitality operators. | Property Management Systems | Series D+ | $130M | North America | Follow-on | KKR; Apax | KKR |
| PredictAP | Jan 2024 | AI invoice ingestion and coding for real-estate accounts payable. | Property Operations Software | Series A | $8M | North America | Follow-on | None identified | PredictAP |
INSIGHTS
The insights below come from reviewing disclosed PropTech equity rounds for full-year 2024, full-year 2025, and year-to-date 2026 through May 2026.
- The PropTech market’s headline funding number is less useful than its funding distribution. The top 3 rounds consistently captured about 60% to 68% of capital, which means any interpretation that ignores platform rounds will overstate the health of the median startup.
- The PropTech market expanded from 2024 to 2025, but the expansion was not driven by a rising typical round size. Deal count rose, total capital rose, and the median round moved only slightly from $14M to $15M, which means the market became broader rather than uniformly richer.
- The early 2026 PropTech market is more active but less capital-intensive than the comparable 2025 period. More companies raised money, but average and median round sizes fell sharply, which points to seed formation rather than late-stage acceleration.
- The strongest structural rule is that capital rewards workflow ownership. Companies tied to property management, leasing operations, maintenance, tax appeals, title records, underwriting, payments, or transaction execution consistently receive more meaningful backing than thinner analytics or content layers.
- AI is no longer a sufficient investment thesis in PropTech. The strongest funded AI companies attach AI to proprietary data, regulated workflows, professional distribution, or labor replacement in real-estate operations.
- Property Management Systems remains the safest category for large checks, but not necessarily the most dynamic category by deal count. PMS capital is increasingly concentrated in scaled platforms or consolidation plays rather than spread evenly across many new companies.
- Leasing Technology is becoming the broadest current activity pool. Its 2026 deal-count leadership shows that investors see leasing as a high-friction workflow with room for automation, but its sub-1.0 capital-share-to-deal-share ratio shows that most leasing rounds are not yet huge.
- Real Estate Data Tools are splitting into weak and strong versions. Generic data tools received smaller checks in 2025, while 2026 investor interest has moved toward proprietary, workflow-native data infrastructure such as title records, verified transaction data, institutional memory, and underwriting systems.
- Building Operations Systems has credible medium-term logic but weak 2026 momentum under this strict definition. The absence of qualifying 2026 deals suggests investor attention has moved away from building-control and energy systems toward software closer to transactions, leasing, and asset decisions.
- Property Operations Software had one of the strongest 2025 category breakouts, but the weak 2026 start means that breakout is not yet confirmed as a durable wave. The category needs additional 2026 rounds to prove that 2025 was more than a cluster of individual follow-on financings.
- Real Estate Brokerage Software is becoming investable again, but only when the buyer is the professional intermediary. The funded brokerage companies improve agent workflows, listing media, fraud prevention, lead handling, and communications rather than relying on consumer search as the core wedge.
- The market is globalizing in formation before it globalizes in scale capital. Europe, the Middle East, Asia-Pacific, and North America all show visible activity in 2026, but the largest annual capital pools still depend on where major platform rounds land.
- North America remains the most credible scale-capital region on the 2025 full-year evidence. Its 80.1% capital share in 2025 and $30M regional median round show that the region can support large PropTech checks more routinely than Europe or Asia-Pacific.
- Europe’s 2026 lead is meaningful because it includes both early rounds and scale-up rounds. Europe is not merely producing small experiments; Dwelly and Giraffe360 show that the region can also support larger PropTech financings.
- The Middle East is punching above its deal-count weight where PropTech overlaps with capital formation, investment access, and verified property intelligence. Stake, Daleel, and Smart Bricks show that the region’s PropTech opportunity is tied to liquidity, data transparency, and investor participation.
- Asia-Pacific is forming companies but still raising small rounds. Its 2026 deal share is much higher than its capital share, which suggests that Asia-Pacific PropTech remains earlier-stage, more localized, or less connected to large equity financing markets.
- First-financing activity is a strong formation signal but a weaker capital signal. The rise from 15.8% of deals in 2024 to 62.5% through May 2026 is meaningful, but first financings still capture a minority of dollars.
- The PropTech market is simultaneously open and selective. Many new companies can raise small rounds, but the large checks still go to companies that have proof of distribution, customer urgency, workflow depth, or asset-level financial impact.
- The persistent gap between average and median round size is a warning against using averages as benchmarks. In every period, the average is pulled upward by a few large deals, while the median better reflects the ordinary fundraising experience.
- Debt and blended financing can make PropTech look larger than the equity market actually is. The 2026 treatment of Dwelly, Ownwell, and Truva shows that stripping out debt materially changes the read on market scale and megaround activity.
- The single most important unresolved question is whether the 2026 seed-heavy cohort can graduate into 2027 or 2028 Series A and Series B rounds. Formation is visible now; durability will only be proven when these companies raise again.
This chart, included in our Prop Tech market deck, shows how property management software technology has evolved over time
OUR METHODOLOGY TO BUILD THIS TRACKER
We built this PropTech funding tracker by reviewing every publicly disclosed equity round raised by pure-play PropTech companies between January 2024 and May 2026. A company counts as pure-play when more than 80% of its activity is dedicated to technology products that materially improve how real-estate assets are operated, managed, leased, transacted, analyzed, or run as building systems.
We applied four filters to build the dataset. First, we only included equity rounds, so grants, debt, structured financings, acquisitions, SPAC transactions, and business combinations are excluded unless an equity component was disclosed and could be isolated. Second, we only counted rounds of $300K or more. Third, we only kept pure-play PropTech companies, which means we excluded construction tech, generic fintech or insurtech, consumer smart-home electronics not tied to operating or transacting property, and real-estate businesses where software was not the core product. Fourth, every entry had to be confirmed by a direct company announcement, press release, tier-1 media report, specialized industry source, or relevant regional publication.
Undisclosed-amount rounds are excluded because including them would distort dollar-based metrics such as average round size, category capital share, stage capital share, and concentration ratios. We also excluded debt-only financings and, for blended rounds, counted only the disclosed equity component when available. The resulting dataset is a public-market view of disclosed PropTech equity funding, so private SAFE rounds, stealth financings, and unannounced local deals may be missing.
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