What are the top startups in the Prop Tech market?
In our Prop Tech market deck, you will find everything you need to understand the market
SUMMARY
The top startups in the PropTech market today are Bilt, QuintoAndar, Entrata, Mews and EliseAI, with Bilt leading overall and QuintoAndar standing out as the strongest pure housing PropTech company.
PropTech funding has stopped falling, but the market is not back in boom mode. H1 2026 funding was almost flat year over year and still roughly 65% below the 2021-22 peak.
The capital that is available is concentrating in larger, more mature businesses. Nearly half of H1 2026 funding went into rounds of at least $100 million, while small rounds represented only a tiny share of total dollars.
The strongest companies are increasingly built around recurring property workflows rather than occasional search. Payments, leasing, maintenance, accounting, hotel operations and resident communication create more frequent monetization than a listing viewed once every few years.
Bilt is the clearest financial breakout, but it is also stretching the definition of PropTech. Housing is still the entry point, yet the company increasingly looks like a broader payments, commerce and resident-services network.
QuintoAndar has the cleanest case among pure housing platforms because its scale comes directly from rental contracts, home sales and property operations. Its next interesting move is turning that transaction base into software and AI for outside agencies.
Entrata and Mews show why operating systems can become unusually durable PropTech businesses. Once leasing, accounting, reservations, payments, housekeeping or maintenance run through one platform every day, switching becomes painful.
EliseAI is the fastest-rising company in the ranking because roughly $100 million of ARR gives its AI automation story real commercial weight. Its long-term risk is that core property-management systems build similar automation into products customers already use.
Flow is the clearest case where valuation is ahead of visible operating scale. The upside could be large if its technology materially improves building economics, but public evidence on occupancy, retention, operating costs and property-level returns is still too thin.
Placer.ai and Guesty look stronger than their last widely discussed valuations suggest because both already sit on substantial usage and proprietary operating data. In each case, the distribution existed before the latest AI layer arrived.
The broader pattern is that the next generation of PropTech value is moving deeper into the property lifecycle. The winners are less likely to be another generic portal and more likely to own the money flow, operating system, automation layer or proprietary data behind the property.
This market map, featured in our Prop Tech market deck, highlights top companies and startups in the proptech market
Is PropTech actually hot again right now?
PropTech funding has stabilized, but calling the market hot again would overstate what is happening today.
CRETI counted $4.53 billion invested across 231 PropTech financings in the first half of 2026. That was almost identical to the first half of 2025 and only 2.6% above 2024. The longer comparison is harsher: funding remained about 65% below the first-half levels of 2021 and 2022.
The latest full monthly data makes the picture even clearer. CRETI counted $528 million across 32 funded companies in July, down 31.2% from $767 million across 49 companies a year earlier. So we are looking at a market that has found a floor rather than one entering another broad funding boom.
Money is also heavily concentrated. Eleven rounds of at least $100 million absorbed $2.25 billion in the first half, almost half of all capital raised. Meanwhile, 75 rounds below $5 million represented less than 3% of the dollars. Debt and private equity together accounted for roughly 38% of total funding.
That changes how we should read a big PropTech funding number these days. Plenty of startups are still being created, but the really large checks increasingly go to businesses that already have customers, recurring revenue, assets or enough predictable cash flow to support debt.
| PropTech funding measure | What we found |
|---|---|
| H1 2026 funding | $4.53B across 231 rounds |
| Change from H1 2025 | -0.6% |
| Change from H1 2024 | +2.6% |
| Gap from 2021-22 peak | About 65% lower |
| Capital in $100M+ rounds | 49.6% |
| Latest full month | $528M across 32 funded companies |
If you want more recent data on this point, please see our latest Prop Tech market report.
What should actually count as a PropTech startup?
For this ranking, we count private technology companies whose success still depends heavily on how property is bought, rented, financed, managed, operated or analyzed.
That sounds obvious until we look at the largest companies. Bilt started with rent payments but is becoming a housing commerce and fintech network. Juniper Square started with commercial real-estate investment managers but now serves private equity and private credit. Placer.ai sells location intelligence to landlords, retailers, municipalities and consumer brands. Mews operates hotel properties through software but sits just as comfortably inside hospitality technology.
We keep those companies because real estate remains central to their distribution, customers or product. We leave out public companies such as Zillow and Compass, acquired startups, and construction companies whose main business is building rather than operating property.
The boundary inevitably has some judgment in it. But forcing every company into a narrow "real-estate software" definition would exclude several of the businesses that have actually created the most value from property technology.
As this chart shows, and as featured in our Prop Tech market deck, search interest in proptech has been climbing steadily
Who are the top PropTech startups right now?
Bilt leads our current PropTech ranking, with QuintoAndar, Entrata, Mews and EliseAI forming the strongest group immediately behind it.
We are ranking companies on demonstrated commercial scale, growth, category position and how difficult their position looks to copy. Valuation helps us understand investor conviction, but we give more weight to what the business has already built.
That approach changes the usual PropTech list. Flow is worth roughly $2.5 billion, but its existing property footprint is still much smaller than the operating footprints of Entrata, QuintoAndar or Mews. Placer.ai has a lower last disclosed valuation, yet it reached $100 million in ARR and more than 4,000 customers. EliseAI's latest potential $3.7 billion valuation is still being negotiated, while its $100 million ARR is already real enough to change how we view the company.
Mews and Property Finder also move into the top ten after our latest review. Mews raised $300 million at a $2.5 billion valuation after reaching 15,000 customers and $19.7 billion of annual platform transaction volume. Property Finder followed a roughly $2 billion valuation transaction with another $170 million investment from Mubadala and other regional investors.
| Rank | Startup | Strongest evidence today | Our read |
|---|---|---|---|
| 1 | Bilt | $10.75B valuation, 5M+ members, 1 in 4 US apartment buildings | Biggest financial breakout |
| 2 | QuintoAndar | 300K+ rental contracts, R$20B annual transaction value | Strongest pure housing platform |
| 3 | Entrata | $536M trailing revenue, $60M net income, 12M+ residents | Strongest mature operating business |
| 4 | Mews | $2.5B valuation, 15K customers, $19.7B platform volume | Global hospitality software leader |
| 5 | EliseAI | ~$100M ARR, last completed valuation ~$2.2B | Fastest-rising AI challenger |
| 6 | Property Finder | ~$2B valuation, $170M fresh investment | Dominant MENA property marketplace |
| 7 | Placer.ai | $100M ARR, 4K+ customers | One of the best data businesses |
| 8 | Juniper Square | 2K+ GPs, 40K funds, $1T in LP capital | Huge scale, increasingly outside PropTech |
| 9 | Guesty | 500K+ active listings | Short-term-rental operating-system leader |
| 10 | Flow | ~$2.5B valuation, 4K+ apartments | Big ambition, less proof so far |
Is Bilt really the number-one PropTech startup?
Bilt deserves the number-one spot today if we allow housing fintech inside PropTech, although it is becoming much bigger than a rent-rewards company.
Bilt's last primary financing valued the company at $10.75 billion. The company says its network reaches roughly one in four US apartment buildings, more than five million members and 70% of the country's 100 largest property managers. It also says the platform processes more than $100 billion of annual housing spending.
The more interesting development lately is what sits beyond the credit card. Bilt founder Ankur Jain told Fortune that the card represented less than 11% of the business. In the same interview, he said the broader company was on track to clear $1 billion of revenue, compared with roughly $200 million in 2024.
Bilt is now moving through rent, mortgages, property-management integrations, maintenance, neighborhood commerce and resident services. A recent Moinian Group deployment also gives us a more concrete operating datapoint: the landlord said more than 80% of resident requests handled through the Bilt platform had been automated.
We still need to be careful with company-provided forecasts. But even after discounting them, very few private PropTech companies combine Bilt's valuation, distribution and payment volume. The bigger question now is whether we should still call Bilt PropTech once housing becomes only the entry point into a much broader commerce network.
If you want more recent data on this point, please see our latest Prop Tech market report.
This chart, included in our Prop Tech market deck, illustrates yearly VC funding for proptech startups
Is QuintoAndar the strongest pure PropTech startup?
QuintoAndar is currently our strongest pure-play housing PropTech company because its scale comes directly from renting, selling and managing homes.
The Brazilian company disclosed more than R$20 billion of property transaction value over a twelve-month period, split roughly evenly between rentals and home sales. It also reached 300,000 rental contracts under management, signs more than 13,000 new rental contracts each month and closes roughly 2,000 to 2,500 home sales monthly.
Those figures put QuintoAndar beyond the usual marketplace model. The company guarantees rent for landlords, manages rental contracts, sells properties, prices homes, operates brokerage infrastructure and owns a large pool of proprietary transaction data.
QuintoAndar is now pushing further into software. The company has committed R$2 billion to technology investment and recently introduced a broader platform for real-estate agencies, including CRM, marketplace distribution and Domi, an AI product that automates conversations with prospective clients.
We find that direction more interesting than another expansion of the listing marketplace. QuintoAndar already has the consumer demand, transaction history and managed inventory. If it can turn those assets into software used by outside agencies, it gets another way to monetize the housing market without having to own the property itself.
Is Entrata still a startup if it is preparing for an IPO?
Entrata is already operating more like a public software company than a conventional startup, but it remains private for now and its numbers are too strong to leave out.
Its SEC filing finally gave us financial evidence that most private PropTech companies never disclose. Entrata generated $536 million of revenue and $60 million of net income during the twelve months ending in March. The company also says its software serves more than 12 million residents across over 35,000 multifamily communities.
That makes the $4.3 billion valuation attached to Blackstone's 2025 investment easier to interpret. We are looking at roughly eight times trailing revenue using those figures, before adjusting for cash, debt or the details of the proposed offering. Flow carries a valuation above half that size with only a few thousand apartments currently operating.
Entrata also sits deep inside daily property operations. Leasing, accounting, payments, maintenance, purchasing and resident communication can all run through the platform. Switching that kind of system is painful, which gives Entrata a very different competitive position from a point solution used by one department.
Its IPO filing is also why we would hesitate to call Entrata the future face of PropTech startups. The business has already reached the graduation stage. Once it becomes public, it leaves this ranking.
This chart, included in our Prop Tech market deck, looks at Compass’s strategy in proptech
Is Mews now too big to ignore in PropTech?
Mews belongs near the top of the PropTech market now, especially if hotel property technology sits inside our definition.
The Amsterdam-based company raised $300 million at a $2.5 billion valuation after a year in which SaaS gross profit grew 55%. Mews says 15,000 customers across 85 countries now use the platform, with more than 132,000 monthly active hotel workers and $19.7 billion of transactions running through its systems in 2025.
Mews manages reservations, payments, pricing, housekeeping, point of sale and other hotel workflows. That puts it in the same broad family as Entrata and Guesty: software becomes valuable because staff use it every day to operate the physical property.
Its expansion is unusually aggressive. Mews had completed fourteen acquisitions by the time of its latest funding round, including DataChat for generative AI analytics. It is also building payments directly into hotel operations.
The $19.7 billion transaction figure deserves more weight than the $2.5 billion valuation. Processing that much activity gives Mews a large surface area for payments, automation and additional software. We had underweighted the company in the earlier ranking. On the evidence available now, fourth place is more defensible.
Is EliseAI the fastest-rising PropTech startup today?
EliseAI is the PropTech company moving up this ranking fastest, and the latest revenue figure makes the AI story much harder to dismiss as hype.
EliseAI reached approximately $100 million in annual recurring revenue after building AI assistants for leasing, apartment tours, maintenance communication and other repetitive housing workflows. The company raised $250 million at roughly a $2.2 billion valuation in 2025.
Business Insider has since reported that EliseAI is discussing another $300 million financing at a valuation of about $3.7 billion. We do not count that valuation as completed because the terms were still being negotiated. The $100 million ARR figure is the more useful datapoint anyway.
The attraction is easy to understand when we look at the work itself. Property managers employ large teams to answer recurring questions, qualify leads, schedule visits, chase documents and coordinate maintenance. EliseAI can attach software pricing to labor that owners already pay for, giving the product a straightforward ROI argument.
Its biggest threat could eventually come from the systems underneath it. Entrata and other property-management platforms already control leasing records, payments, maintenance data and resident histories. If their own AI becomes good enough, customers may prefer automation built directly into the existing system.
For now, EliseAI has moved quickly enough to create its own layer. Among the top ten companies here, it has the clearest chance of being several positions higher within a few years.
If you want more recent data on this point, please see our latest Prop Tech market report.
This chart, included in our Prop Tech market deck, illustrates yearly funding for proptech startups
Is Flow's $2.5 billion valuation ahead of its actual business?
Flow's $2.5 billion valuation currently runs ahead of the operating evidence we can see.
Adam Neumann's company has slightly more than 4,000 apartments across seven buildings in South Florida and Riyadh, alongside projects still being developed. Flow combines ownership, development, management software and the resident experience inside one business.
That makes comparisons tricky. Entrata can add another property to its software without buying the building. Flow may have to acquire, finance or develop real assets. A smaller unit count can therefore represent far more invested capital.
Still, the gap in proven scale is hard to ignore. QuintoAndar manages hundreds of thousands of rental contracts. Entrata touches more than 12 million residents. Mews serves 15,000 hospitality properties. Guesty powers more than 500,000 short-term-rental listings.
Flow could justify the premium if its technology produces better property economics. We would want to see occupancy, resident retention, operating costs, rent premiums and building-level returns against comparable apartments. Those numbers would tell us whether Flow has invented a better operating model or mainly wrapped strong branding and software around a real-estate portfolio.
Until we have them, Flow belongs in the top ten on ambition and investor backing rather than proven PropTech scale.
Is Property Finder one of the world's biggest PropTech startups now?
Property Finder has become too large to treat as a regional footnote, even though its strongest position remains concentrated in the Middle East.
Permira and Blackstone invested $525 million in the property portal in 2025 in a deal that valued the company at roughly $2 billion. Property Finder then raised another $170 million from Mubadala, another UAE sovereign wealth fund and BECO Capital. It has also arranged $250 million of debt financing from Ares and HSBC.
So within a relatively short period, close to $1 billion of equity transactions and debt financing has formed around one property marketplace. That is a lot of capital for one portal, even by late-stage PropTech standards.
Property Finder benefits from a particularly strong home market. Dubai recorded more than 270,000 real-estate transactions last year, according to Dubai Land Department figures cited by The National, with transaction value rising 20% to Dh917 billion. Property Finder also operates across other Middle Eastern markets.
Its weakness in our ranking is the same one faced by most listing portals: mature marketplace businesses can become extremely profitable, but their product is less deeply embedded in property operations than Entrata, Mews or EliseAI.
Still, sixth place feels more accurate today than leaving Property Finder outside the list. Investors have now committed too much capital, at too high a valuation, for the company to be treated as a minor regional player.
This chart, included in our Prop Tech market deck, compares the main business model options for proptech property management platforms
Which PropTech startups look stronger than their valuations suggest?
Placer.ai and Guesty stand out because their actual usage looks stronger than the valuations most people still associate with them.
Placer.ai crossed $100 million in ARR and more than 4,000 customers after having roughly 1,000 customers around two years earlier. Its last widely reported financing valued the company at about $1.45 billion. Property owners, retailers, developers and investors use Placer.ai to analyze foot traffic, trade areas and changes in physical consumer behavior.
That is a useful business to own because the dataset improves as the platform observes more locations and customer behavior. Placer.ai is also expanding beyond real estate, which gives it a larger market while making the PropTech label less precise.
Guesty has a similar visibility problem. Its last major financing valued it around $900 million, yet Guesty now says it powers more than 500,000 active short-term-rental listings across more than 100 countries. The company has accumulated thirteen years of operating data across bookings, pricing, communications, payments and reviews.
Guesty is currently pushing that data into an AI-agent layer for property managers. Whether that becomes a major revenue driver is still unclear, but the underlying distribution is already there.
If we ranked companies purely by the amount of real property activity running through their software, both Placer.ai and Guesty would move higher.
If you want more recent data on this point, please see our latest Prop Tech market report.
Is Juniper Square still really a PropTech company?
Juniper Square still belongs in a PropTech ranking because real estate built the company, but its center of gravity has clearly moved toward private markets.
The scale is substantial. More than 2,000 general partners use Juniper Square across over 40,000 funds and roughly $1 trillion of LP capital. The company says it has grown at a 45% compound annual rate over the past five years.
What has changed is the customer mix. Juniper Square originally found product-market fit with commercial real-estate investment managers. Today, private equity and venture capital represent four of its five largest customers by revenue. The company has also moved into private credit, including through its acquisition of Tenor Digital.
So we are increasingly ranking Juniper Square because of what it became after succeeding in PropTech. The underlying products, investor reporting, fundraising, treasury, fund administration and AI-powered investor relations now solve problems across most private asset classes.
That expansion is commercially attractive. It simply means Juniper Square may eventually disappear from this list for the same reason a successful startup disappears after an IPO: the original category stops describing the company very well.
This chart, featured in our Prop Tech market deck, illustrates revenue distribution by customer segment in the proptech market
Where are the best new PropTech businesses being built now?
The best PropTech businesses today are clustering around property operations, payments, data and AI rather than another generic home-search marketplace.
Our top ten makes the pattern visible. Entrata and Mews run core operating systems. EliseAI automates work performed by property employees. Bilt sits inside housing payments and resident commerce. Placer.ai sells proprietary physical-world intelligence. Guesty runs the daily operations of short-term rentals.
Even the marketplace businesses are moving deeper. QuintoAndar now offers CRM and AI to agencies. Property Finder is adding agent productivity and valuation tools. Bilt has expanded from rent rewards into maintenance, mortgages and property-management infrastructure.
Recent funding points in the same direction. CRETI's early-stage work found a much stronger emphasis on narrow AI products, while its broader funding data shows investors favoring businesses tied to operational efficiency, infrastructure and large recurring workflows.
Recurring workflows are simply easier to monetize repeatedly than occasional property searches. A tenant may look for an apartment once every few years. A landlord handles payments, maintenance, leasing, accounting and resident communication every day.
| Where value is concentrating | Companies showing it | Why we like the model |
|---|---|---|
| Property operating systems | Entrata, Mews, Guesty | Daily use and painful switching |
| AI automation | EliseAI | Software can replace expensive manual work |
| Housing payments and commerce | Bilt | Huge recurring transaction flows |
| Marketplace plus infrastructure | QuintoAndar, Property Finder | Existing demand can feed higher-value services |
| Property and location data | Placer.ai | Proprietary datasets improve with scale |
| Investment operations | Juniper Square | Deep workflow integration and recurring revenue |
| Integrated property ownership | Flow | Large upside if technology improves building economics |
So, what are the top startups in the PropTech market?
Bilt is our number-one PropTech startup today, while QuintoAndar is the strongest pure housing company and EliseAI is the startup most likely to move sharply higher.
Behind Bilt, we put QuintoAndar second because 300,000-plus rental contracts and more than R$20 billion of annual transaction value give it unusually deep housing-market scale. Entrata ranks third on the strength of $536 million of trailing revenue, profitability and more than 12 million residents, although its pending IPO means it may soon leave the startup ranking entirely.
Mews deserves fourth place after reaching 15,000 customers, $19.7 billion of platform transaction volume and a $2.5 billion valuation while still growing SaaS gross profit by 55%. EliseAI takes fifth because $100 million ARR changes the way we should look at the AI automation story. Property Finder, Placer.ai, Juniper Square, Guesty and Flow complete our top ten.
The companies just outside that group still include serious businesses such as NoBroker and Habi. We simply have stronger and more current operating evidence for the ten companies above.
The larger shift across PropTech is now hard to miss. Putting property listings online created the previous generation of winners. These days, more of the value is moving into what happens after somebody finds the property: collecting the money, operating the building, automating the staff, managing the investment vehicle and supplying the data behind decisions.
That is why Bilt can lead the ranking while becoming harder to call pure PropTech, why Entrata's actual revenue carries more weight than another billion-dollar valuation announcement, and why EliseAI looks more consequential right now than another new housing portal.
If we had to choose only five companies that best represent PropTech leadership today, we would pick Bilt, QuintoAndar, Entrata, Mews and EliseAI. If we had to choose the one most likely to climb from here, we would pick EliseAI.
If you want more recent data on this point, please see our latest Prop Tech market report.
This chart, included in our Prop Tech market deck, shows how property management software technology has evolved over time
OUR METHODOLOGY
This ranking asks which private PropTech companies are strongest today. We compare commercial scale, growth, adoption, market position, operating depth and investor conviction, with more weight on concrete operating evidence such as revenue, ARR, customers, contracts, transaction volume, profitability and product usage than on headline valuation alone.
The comparison is deliberately functional rather than narrow. We keep companies in scope when property remains central to their product, customers, distribution or underlying economic activity, even if they have expanded into adjacent areas such as fintech, hospitality technology or private-market software. Public companies, acquired startups and construction businesses whose main activity is building rather than operating property are excluded.
Because these companies have very different business models, we do not compare them on a single metric. A marketplace, a property-management platform, a payments network and a vertically integrated real-estate operator create scale in different ways, so we assess each company against the evidence that best reflects its own model and then compare the combined picture across the market.
Recency matters. Recent operating disclosures and completed transactions carry more weight than older private valuations, historical reputation or financing terms that have not closed. We also treat company forecasts and proposed financings more cautiously than completed results.
Key sources for the market backdrop include CRETI's H1 2026 Global PropTech Venture Report and CRETI's July 2026 PropTech funding report. For company-level evidence, we prioritized primary disclosures and filings including QuintoAndar's transaction and rental-contract disclosure, Entrata's SEC registration statement, Mews' latest financing and operating update, Placer.ai's $100 million ARR disclosure, Juniper Square's company-scale disclosure, and Guesty's active-listing and operating-data update.
Funding and valuation evidence was cross-checked with institutional investor and company announcements where available, including Permira's Property Finder investment announcement, Blackstone's Property Finder announcement, Mubadala's subsequent $170 million investment announcement, EliseAI's Series E announcement, and Bilt's current network and product disclosures.
We did not turn the exercise into a mechanical score. The framework is there to make the judgment structured: break the question into comparable dimensions, use the freshest credible evidence for each company, and form the ranking from the weight of that evidence as a whole.
In our Prop Tech market deck, we identify pain points entrepreneurs should prioritize
