What are the top PropTech startups by total funding raised?

Top startups in the PropTech market ranked by total funding raised

Here is an updated table that ranks the top startups in the PropTech market based on the total amount of funding they have raised to date.

The table also includes the total number of funding rounds, the date and size of the latest round, the financing type (e.g. Series A, equity financing), key investors, the startup’s current status (active, IPO, acquired, or shut down), and a confidence score based on the data collected (we excluded startups with very low data confidence, to make sure everything is reliable).

If you need to dig deeper and get more detailed data, please check our report covering the PropTech market.

Which PropTech startups have raised the most funding?

Airbnb is still the most heavily funded PropTech company in this dataset by a huge margin, with about $5 billion raised before becoming public. Compass and Opendoor follow at roughly $1.5 billion each, while no other company in the ranking reaches $1 billion.

That creates an unusually top-heavy market. Across the 96 companies in our dataset, we count at least $26.5 billion of cumulative funding. Airbnb alone represents almost 19% of that amount, while Airbnb, Compass and Opendoor together account for roughly $8 billion, or 30%.

The gap also says a lot about PropTech history. The companies that accumulated the largest war chests were generally built around expensive consumer-facing businesses: accommodation marketplaces, brokerages and home transactions. These models required large amounts of capital for customer acquisition, market expansion, financing infrastructure or balance-sheet-heavy operations.

The newer generation of heavily funded companies looks different. Mews, Entrata, Hostaway, EliseAI and Vantaca primarily sell technology to professional property or hospitality operators. They can still raise hundreds of millions, but capital is increasingly following software and operational infrastructure rather than another attempt to reinvent home buying through brute-force spending.

Rank	Company	Funding in dataset	Main model
1	Airbnb	$5.0B	Short-term accommodation marketplace
2	Compass	$1.5B	Real estate brokerage
3	Opendoor	$1.5B	Digital home buying
4	Loft	$900M	Residential marketplace
5	QuintoAndar	$756M	Rentals and home sales
6	Sonder	$730M	Serviced accommodation
7	Mews	$717M	Hospitality software
8	Entrata	$707M	Multifamily software
9	PropertyGuru	$542M	Property marketplace
10	Hostaway	$540M+	Vacation-rental software

How concentrated is PropTech funding among the biggest companies?

PropTech funding is highly concentrated: the ten companies at the top of our dataset represent almost half of all the money raised by the 96 companies included.

We calculate approximately $12.9 billion for the top ten against at least $26.5 billion for the full ranking, equivalent to roughly 49%. The top 20 reach approximately $16.8 billion, or nearly 64%.

This is not merely the result of having Airbnb in first place. Removing Airbnb would reduce the distortion, but Compass, Opendoor and several large Latin American platforms still sit hundreds of millions of dollars above most of the market.

Current market-wide data show a similar pattern. CRETI counted $4.53 billion of PropTech investment across 231 rounds during the first half of 2026. Eleven rounds of at least $100 million represented $2.25 billion, almost exactly half of all capital, even though they accounted for less than 5% of the rounds.

There are plenty of PropTech deals these days. A relatively small set of companies still receives a disproportionate share of the dollars.

Group	Minimum funding in our dataset	Share of dataset total
Airbnb alone	$5.0B	18.9%
Top 3	$8.0B	30.2%
Top 5	$9.66B	36.5%
Top 10	$12.89B	48.7%
Top 20	$16.83B	63.6%
Top 50	$23.15B	87.5%
All 96 companies	$26.47B+	100%

Is Airbnb really that much better funded than every other PropTech company?

Yes. Airbnb's approximately $5 billion of cumulative financing is more than three times the amount raised by either Compass or Opendoor and greater than the combined funding of many recognizable PropTech leaders.

The difference reflects the type of company Airbnb became. It was not simply developing real estate software. It built a global consumer marketplace with supply acquisition, payments, trust infrastructure, international expansion and massive brand spending, then raised another $1 billion from Silver Lake and Sixth Street during the travel shock of 2020.

Airbnb is useful as a scale reference, but much less useful as a template for today's typical PropTech startup.

The market has changed substantially since Airbnb, Compass and Opendoor accumulated their largest rounds. Current investors appear more willing to fund companies that monetize property operators through recurring software than businesses requiring continuous capital to intermediate physical property transactions.

That is why Mews reaching $717 million, Entrata $707 million and Hostaway at least $540 million is particularly notable. Their funding remains far below Airbnb's, but they have reached unusually large scale for vertical software businesses serving real estate or hospitality.

Which privately held PropTech startups are the most funded today?

Loft and QuintoAndar remain among the largest private PropTech companies by cumulative funding, but software companies are rapidly filling the top of the private-company ranking.

Our dataset puts Loft at approximately $900 million and QuintoAndar at $756 million. Behind them, Mews has reached roughly $717 million after its $300 million Series D, Entrata approximately $707 million, and Hostaway at least $540 million.

This group is much more diverse than the historical PropTech leaders. Loft and QuintoAndar built broad residential transaction platforms in Brazil. Mews sells hotel operating software. Entrata provides infrastructure to multifamily property managers. Hostaway sells software to professional vacation-rental operators.

EliseAI adds another model altogether: AI automation for housing operations, with expansion into healthcare. Its confirmed $250 million Series E in 2025 valued the company at $2.2 billion, and reports this year said it was discussing another approximately $300 million financing at a substantially higher valuation. Because those discussions had not been announced as a completed transaction, we would not add that rumored round to confirmed cumulative funding.

The private PropTech leaderboard is no longer dominated by one business model.

Which PropTech startups have raised the biggest recent rounds?

The largest recent PropTech financings are overwhelmingly concentrated in companies that already have meaningful scale, rather than very young startups.

Mews raised $300 million in its Series D, Vantaca secured more than $300 million in a minority growth transaction, and EliseAI raised $250 million in its Series E. Entrata received a $200 million Blackstone investment, while Property Finder raised another $170 million from Mubadala, another UAE sovereign wealth fund and BECO Capital.

Hostaway's $365 million transaction remains an especially important reference point even though it occurred earlier. General Atlantic led the investment with PSG Equity after PSG had already invested $175 million in Hostaway in 2023.

These are not classic early venture rounds. Several involve growth equity, private equity or large institutional minority investments. Investors are writing enormous checks, mostly after a PropTech company has already demonstrated category leadership, recurring revenue, substantial transaction volume or a defensible regional position.

Company	Recent major financing	Amount	Type
Hostaway	Growth investment	$365M	Growth equity
Mews	Series D	$300M	Venture / growth
Vantaca	Minority investment	$300M+	Growth equity
EliseAI	Series E	$250M	Venture
Fundrise	Cumulative Reg A share proceeds disclosed in SEC filing	~$217M	Regulation A
Entrata	Blackstone investment	$200M	Minority growth
Property Finder	New institutional investment	$170M	Growth equity
Guesty	Series F	$130M	Venture
PassiveLogic	Series C	$74M	Venture
Huspy	Series B	$59M	Venture

Is PropTech funding actually recovering now?

PropTech funding has stabilized, but calling the current market a broad recovery would overstate what is happening.

CRETI recorded $16.7 billion invested globally in PropTech and adjacent real estate technology during 2025, up 67.9% from 2024. That sounds like a dramatic rebound.

The first half of 2026 paints a more restrained picture. Funding totaled $4.53 billion across 231 rounds, just 0.6% below the comparable period a year earlier and 2.6% above the first half of 2024. The median round was only $6.75 million.

So the market is not collapsing, but capital is not flooding indiscriminately back into PropTech either. Large financings are pulling the aggregate higher while ordinary startups continue to raise much smaller rounds.

July reinforced the pattern. CRETI measured $528 million across 32 funded companies, down more than 30% from the same month a year earlier, even as the median round increased from $5 million to $5.6 million.

What has recovered is investor willingness to fund proven PropTech businesses. The permissive fundraising environment of the previous boom has not returned.

Why are Mews and Entrata raising so much money?

Mews and Entrata show how valuable operational software has become inside enormous but technologically fragmented real estate industries.

Mews raised $300 million at a $2.5 billion valuation after reporting 15,000 customers, more than 132,000 monthly active hoteliers and $19.7 billion of platform transaction volume during 2025. Its SaaS gross profit grew 55%. That scale makes a $300 million round easier to understand: investors are financing an established hospitality operating system rather than an experimental hotel app.

Entrata shows the same dynamic in multifamily housing. Blackstone invested $200 million at a $4.3 billion valuation, and Entrata says its software is used by properties housing more than 12 million residents.

The attraction is structural. Hotel operators, multifamily landlords and property managers run repetitive workflows involving payments, leasing, bookings, maintenance, accounting and communication. Once a software platform becomes embedded across those functions, replacing it can be disruptive.

This gives vertical property software a very different funding profile from many consumer PropTech models. Instead of repeatedly paying to acquire individual home buyers or travelers, companies such as Mews and Entrata can monetize professional organizations continuously.

Is AI becoming the biggest PropTech funding theme?

AI is becoming one of the strongest PropTech funding themes, but it has not replaced every other category.

EliseAI is the clearest example. It raised $250 million in 2025 after raising $75 million only a year earlier. That round valued the business at $2.2 billion. Reports this year said Andreessen Horowitz and Bessemer were discussing another roughly $300 million financing around a $3.7 billion valuation, although the transaction remained unconfirmed.

Vantaca is also explicitly positioning itself as an AI-first operating platform for community association management. Its more than $300 million investment valued the company at $1.25 billion after the company reported a 95% year-over-year increase in revenue.

PassiveLogic raised $74 million for autonomous building controls and counts investors connected to both real estate and advanced technology, including Brookfield, Prologis Ventures, Johnson Controls and Nvidia's NVentures.

Even established platforms such as Mews and Hostaway explicitly cite AI as an area for investment.

Still, current PropTech fundraising cannot be reduced to an AI story. Property Finder's funding is tied to the continued expansion of MENA real estate, Entrata's value comes from multifamily infrastructure, and Huspy combines transactions, brokerage and mortgages. AI is increasingly embedded in the products receiving capital, but the underlying economic problem still matters more than the label.

Is EliseAI becoming one of the best-funded PropTech startups?

Yes. EliseAI has moved from an emerging housing-software company to one of the most heavily financed AI businesses in real estate in only a few rounds.

Our supplied dataset puts cumulative funding at $392 million, while more recently updated funding databases place confirmed cumulative capital above $400 million depending on what financings are counted.

The bigger change is the pace. EliseAI raised $75 million in 2024 and another $250 million in 2025. That single Series E was almost two-thirds as large as the cumulative total shown in the original ranking.

The $250 million round also valued EliseAI at $2.2 billion. Reports of discussions for a further $300 million financing at around $3.7 billion would represent another major step if completed, but we would keep that money outside confirmed totals until the transaction closes or is formally announced.

Either way, EliseAI has crossed the point where it makes sense to view it as a major PropTech software fundraiser rather than simply another AI startup in housing.

Why did Vantaca suddenly become one of the biggest PropTech fundraisers?

Vantaca jumped into the upper tier because one transaction supplied almost its entire cumulative funding total.

The company received more than $300 million in a minority growth investment led by Cove Hill Partners, with JMI Equity remaining involved. Our dataset consequently puts cumulative funding at approximately $305 million.

That means roughly 98% of the recorded funding comes from one financing event.

The check was supported by operating growth rather than an early-stage promise. Vantaca said revenue had increased 95% over the preceding year, that its software served more than 500 management companies and that those customers covered approximately six million households. The transaction valued Vantaca at $1.25 billion.

A mature, relatively lightly funded software company can move up the leaderboard very quickly once a growth-equity investor decides the category is ready for consolidation or large-scale expansion. Vantaca is a clean example.

Why are hospitality software companies attracting so much PropTech capital?

Hospitality software has quietly become one of the strongest funding clusters in the broader PropTech universe.

Mews has accumulated roughly $717 million according to our dataset. Hostaway is above $540 million. Guesty has raised around $410 million, Cloudbeds at least $250 million and several smaller platforms remain well funded.

The scale is easier to appreciate collectively. Those five companies alone represent more than $2.1 billion of cumulative financing.

They serve different customers, but the investment thesis is similar. Hospitality remains fragmented across hotel groups, independent hotels, vacation rentals and professional short-term-rental operators, while operations increasingly require integrated booking, pricing, payments, communication and revenue-management systems.

Mews processed $19.7 billion in platform transaction volume during 2025. Hostaway supports customers with properties across more than 90 countries. Guesty raised $130 million in its Series F. Cloudbeds raised $150 million in its Series D.

Capital is following software companies that can become the operating layer underneath a large physical accommodation market without owning the accommodation themselves.

Are property marketplaces still attracting major funding?

Yes, but today's large marketplace rounds are increasingly concentrated in dominant regional platforms rather than a new wave of generalized property portals.

Property Finder is the clearest current example. It announced a $170 million investment from Mubadala, another UAE sovereign wealth fund and BECO Capital after a much larger $525 million transaction involving Permira and Blackstone Growth in 2025.

Huspy raised $59 million to expand its digital home-buying and mortgage platform from the UAE and Spain into additional markets, including Saudi Arabia.

Older marketplace leaders such as Loft, QuintoAndar, NoBroker and Habi remain high in cumulative funding because investors previously financed aggressive regional expansion at scale.

But several earlier property portals in our table have already been acquired, including PropertyGuru, Housing.com, PropTiger and Lamudi.

Marketplaces remain financeable where there is a credible path to regional dominance, transaction monetization or financial services. Simply creating another property-listings website is no longer enough.

How much has Property Finder really raised?

Property Finder has attracted substantially more capital than the $312 million cumulative figure shown in the supplied ranking if we use the company's broader current financing disclosures.

Property Finder said when announcing its latest $170 million investment that it had raised nearly $700 million in aggregate equity capital. It also disclosed another $250 million of debt financing from Ares Management and HSBC.

The apparent discrepancy largely reflects the nature of its recent transactions. The company announced a $525 million investment led by Permira funds with significant participation from Blackstone Growth before the new $170 million Mubadala-led financing. Depending on how secondary share purchases, primary capital and earlier historical rounds are categorized, databases can generate very different "total raised" figures.

For readers trying to understand Property Finder's financial backing, the company's current disclosures are more informative than relying on a single $312 million database total. It now has an institutional shareholder base spanning General Atlantic, Permira, Blackstone, Mubadala, BECO and another UAE sovereign investor.

That makes Property Finder one of the most institutionally backed private PropTech businesses in the market even if different datasets disagree about the exact cumulative amount that should count as newly raised corporate capital.

Which regions are producing the most heavily funded PropTech companies?

The United States still dominates the depth of the ranking, but some of the largest private PropTech platforms now come from Latin America, Europe and the Middle East.

Latin America is unusually visible near the top. Brazil produced Loft, with approximately $900 million, and QuintoAndar, with roughly $756 million. Colombia-origin Habi has raised about $316 million, while Houm adds another Latin American transaction platform lower in the ranking.

Europe has become particularly strong in property and hospitality software. Mews, Hostaway, Guesty, Cloudbeds' international footprint, HousingAnywhere, PriceHubble and several workplace or building-software companies give the region a substantial software cluster.

The Middle East is moving quickly. Property Finder has attracted large global and sovereign investors, while Huspy raised $59 million to expand across the region and Europe.

Asia has produced significant property portals and transaction businesses including PropertyGuru, NoBroker, Housing.com, PropTiger, Square Yards and 99 Group.

Silicon Valley capital remains deeply involved in PropTech, but the companies receiving that capital are now much more geographically distributed than the early US-centric PropTech narrative suggests.

Do American PropTech startups still dominate funding?

American companies dominate the number of heavily funded PropTech businesses, but they no longer monopolize the largest private outcomes.

Airbnb, Compass and Opendoor make the United States look overwhelmingly dominant at the top because those three companies alone raised around $8 billion. Entrata, EliseAI, Juniper Square, Roofstock, Pacaso, Vantaca and numerous other US businesses deepen that advantage.

However, the private leaderboard becomes much more international once those historical giants are separated out.

Loft and QuintoAndar are Brazilian. Mews was founded in Europe. Hostaway has Finnish roots. Property Finder is headquartered in Dubai. NoBroker and Square Yards come from India. Habi emerged in Latin America.

The funding sources are even more international than the companies themselves. SoftBank, Mubadala, PSP Investments, Tencent, sovereign funds, US growth-equity firms and global venture investors regularly appear across borders.

The better description today is a globally funded PropTech market with a particularly deep US company base.

Who are the biggest investors in PropTech startups?

There is no single investor that dominates every part of PropTech, but a small group repeatedly appears across the better-funded companies in our dataset.

Fifth Wall has one of the broadest visible footprints, with investments linked to Opendoor, Roofstock-era ecosystem activity, Placer.ai, Lessen, Sundae, Belong, ButterflyMX and SmartRent among the companies represented in or adjacent to the ranking.

SoftBank appears across Opendoor, Roofstock, Habi, Cloudbeds and PropTiger. Tiger Global has backed businesses including Divvy Homes, Habi, Side and Rhino and has also invested in Mews. Brookfield or Brookfield-related investment entities appear across commercial real estate, building technology and software companies such as VTS, Latch, Plentific and PassiveLogic.

Blackstone has become particularly visible further up the maturity curve. It invested $200 million in Entrata and participated in Property Finder's large 2025 transaction while appearing around other real estate software businesses.

Andreessen Horowitz is highly visible in the newer AI and residential cohort through EliseAI, Divvy Homes and Belong.

The investor mix has changed. PropTech is no longer financed only by specialist venture funds; its largest companies increasingly attract sovereign wealth funds, buyout firms, crossover funds and global growth-equity investors.

Investor	Examples from the PropTech funding landscape
Fifth Wall	Opendoor, Placer.ai, Lessen, Sundae, Belong, ButterflyMX, SmartRent
SoftBank	Opendoor, Roofstock, Habi, Cloudbeds, PropTiger
Tiger Global	Divvy Homes, Habi, Side, Rhino, Mews
Brookfield	VTS, Latch, Plentific, PassiveLogic
Blackstone	Entrata, Property Finder, Zumper, Dealpath
Andreessen Horowitz	EliseAI, Divvy Homes, Belong
General Atlantic	Opendoor, Hostaway, Property Finder
Mubadala	Property Finder, Plentific
Khosla Ventures	Roofstock, Lessen, Bungalow

Are specialist PropTech investors being replaced by private equity firms?

No, but private equity and growth-equity investors now play a much larger role once PropTech companies reach meaningful scale.

The largest recent transactions make that visible. General Atlantic led Hostaway's $365 million investment. Cove Hill led Vantaca's $300 million-plus financing. Blackstone invested $200 million in Entrata. Permira and Blackstone participated in Property Finder's $525 million transaction.

These firms are joining rather than completely replacing earlier venture investors. Hostaway still has PSG Equity alongside General Atlantic. Vantaca retained JMI Equity. Mews' $300 million round combined EQT Growth with Atomico, HarbourVest and existing investors including Battery Ventures and Tiger Global.

The capital stack changes as the company matures.

Specialist and conventional VC funds can help establish the category, but once a PropTech company has large recurring revenues, millions of end users or control over strategically important workflows, it becomes investable for much larger pools of institutional capital.

That is one reason individual round sizes can jump suddenly from tens of millions to $200 million or $300 million.

Are investors still funding iBuyers and home-trading startups?

Investors are much less aggressive about funding pure iBuyer-style models than they were during the previous PropTech boom.

Opendoor accumulated around $1.5 billion in private funding before going public. Loft raised around $900 million. Habi raised more than $300 million. Orchard, Knock, Flyhomes, Sundae, Clikalia and other transaction-focused companies collectively raised hundreds of millions more.

But the current financing pattern has shifted.

Orchard's latest $30 million round came after the company repositioned itself from primarily a Buy Before You Sell lender toward a broader real estate marketplace. It reported 40% revenue growth in 2025, but the round was far smaller than the capital historically deployed into the largest home-trading models.

The basic challenge is that home transactions are expensive, cyclical and sensitive to mortgage rates. A software platform can potentially add customers without financing homes on its own balance sheet. An iBuyer cannot escape the economics of purchasing, holding and reselling physical property.

Investors have not abandoned digital home transactions, but they are far more selective about models that require large amounts of capital simply to increase transaction volume.

Which PropTech business models have attracted the most funding?

Consumer marketplaces and property transactions dominate historical cumulative funding, while property operating software is taking a larger share of current large rounds.

Airbnb, Compass, Opendoor, Loft, QuintoAndar, PropertyGuru, Vacasa, Divvy Homes, Roofstock, Habi and other transactional companies collectively account for a large portion of the upper half of the ranking.

That is partly historical. Building a consumer marketplace across multiple cities or countries frequently required massive marketing budgets, local operations and years of subsidized growth.

The recent leaderboard looks different. Mews sells hotel software. Entrata sells multifamily software. Hostaway and Guesty serve vacation-rental operators. EliseAI automates housing workflows. Vantaca sells software to community managers. PassiveLogic controls building systems.

The marginal large investment is increasingly going toward companies that can make the existing real estate industry operate more efficiently, rather than companies trying to own or intermediate every transaction.

Is short-term rental PropTech still attracting investors after the post-pandemic reset?

Yes. Software serving professional short-term-rental operators continues to attract very large investments even though several accommodation operators themselves have struggled.

Hostaway raised $365 million after previously receiving $175 million from PSG Equity. Guesty raised $130 million in its Series F and has accumulated roughly $410 million. Cloudbeds has raised at least $250 million across hotel and accommodation management software.

Compare that with the operating-company side of the market. Sonder raised roughly $730 million before eventually shutting down, while Common, another operationally intensive housing company, also shut down after raising more than $130 million.

The contrast is pretty stark.

Software providers can benefit from the growth of vacation rentals without signing leases, furnishing thousands of units or assuming the occupancy risk themselves. They sell the tools that property managers need regardless of which individual operator gains market share.

The money has not left accommodation technology. It has moved toward the infrastructure layer.

Why did some heavily funded PropTech startups still fail?

Large funding rounds did not remove the basic economic risks of operating physical real estate businesses.

Sonder is the strongest example in this ranking. It raised roughly $730 million, reached the public market and still ultimately shut down. Common raised about $133 million before shutting down. EasyKnock raised more than $125 million before its own shutdown.

The amounts show why cumulative funding should not be confused with business quality.

Capital can accelerate expansion, but it cannot permanently compensate for weak unit economics, high fixed costs or unfavorable financing conditions. Models involving leases, homes, guarantees or significant balance-sheet exposure can become particularly vulnerable when occupancy falls, interest rates rise or fundraising becomes harder.

Software businesses usually have a lighter relationship with the underlying property. Entrata does not need to own the apartments using its software. Hostaway does not need to own its customers' vacation rentals. Mews does not need to own the hotels processing transactions through its system.

The PropTech funding record makes that distinction hard to ignore.

Does raising more money make a PropTech startup more likely to be acquired?

Not necessarily, although acquisitions are common among companies that reached meaningful scale without becoming independent public businesses.

PropertyGuru, Vacasa, Matterport, Divvy Homes, Mynd, Cadre, Housing.com, PropTiger, Buildium, Reonomy, Lamudi, RealtyMogul, Jetty and Lane are all marked as acquired in the supplied dataset.

Their funding histories vary enormously. PropertyGuru raised more than $500 million. Vacasa raised roughly $527 million. Matterport raised more than $450 million. At the other end, Lane raised only about $14 million.

Acquisition is not simply the outcome reserved for heavily funded startups.

What funding can do is make companies large enough to become strategically important targets. Property-management systems, data platforms, portals and transaction infrastructure can offer established real estate companies access to technology or market share that would take years to build internally.

But large funding totals can also make acquisitions harder if the startup's previous valuation creates unrealistic price expectations.

Funding provides optionality. It does not determine the exit.

Are IPOs still the main endgame for the biggest PropTech startups?

No. An IPO is now only one of several plausible outcomes for a heavily financed PropTech company.

The ranking's largest historical names include public companies such as Airbnb, Compass and Opendoor, alongside AppFolio, SmartRent and Latch. That can create the impression that sufficiently large PropTech companies naturally graduate to public markets.

The rest of the ranking tells a different story.

PropertyGuru and Matterport were eventually acquired. Vacasa was acquired. Divvy Homes was acquired. Sonder shut down after becoming public. Large private companies such as Mews, Entrata, Hostaway, Loft and QuintoAndar continue to raise institutional capital without needing an immediate listing.

Private markets can now supply individual investments of $200 million to $365 million to proven companies. That reduces the urgency to conduct an IPO merely to access large amounts of capital.

For today's strongest private PropTech companies, staying private through another growth round is a perfectly credible financing strategy.

How much money does a PropTech startup actually need to become a major company?

Far less than the billion-dollar funding totals at the top of the ranking might suggest.

Several meaningful PropTech companies built substantial positions with less than $100 million of reported funding. Crexi has raised roughly $45 million. Nomad Homes about $44 million. PriceHubble approximately $42 million. RentSpree roughly $28 million. Local Logic around $20 million.

Even public software company AppFolio raised only about $30 million in private funding according to the dataset.

This is an important counterweight to Airbnb's $5 billion or Opendoor's $1.5 billion.

Capital requirements depend heavily on the model. A company buying homes needs far more financing than a SaaS business selling subscriptions. A global consumer marketplace normally requires more marketing and localization than specialized software sold to a few thousand institutional customers.

The funding ranking measures financial backing, not a minimum amount required for success.

For a capital-efficient software company, raising $50 million can represent more financial firepower relative to its operating needs than several hundred million dollars does for a property-intensive platform.

Are the newest PropTech rounds larger than normal?

The biggest new PropTech rounds are exceptionally large relative to what the typical company raises.

CRETI's first-half 2026 data put the median PropTech round at $6.75 million. Against that baseline, Mews' $300 million round is roughly 44 times the median. A $170 million round like Property Finder's is about 25 times larger. Even Huspy's $59 million Series B is almost nine times the market median.

The distribution explains why reading only headline funding totals can give a distorted impression of the fundraising environment.

Three quarters of the disclosed sub-$5 million rounds tracked by CRETI collectively represented only a tiny percentage of total capital, while 11 financings of $100 million or more absorbed 49.6%.

The typical founder is not raising hundreds of millions.

What has returned is the ability of a small number of clearly established PropTech businesses to secure unusually large checks.

Is today's PropTech market healthier than the 2021 funding boom?

Today's PropTech funding market looks more selective and probably more economically disciplined than the previous boom, although that does not mean every company receiving large checks will succeed.

The clearest difference is where the money is concentrated.

The earlier cycle financed numerous capital-intensive attempts to transform home buying, flexible living and property ownership. Several accumulated extraordinary funding totals, but companies such as Sonder, Common and EasyKnock later shut down, while others retrenched or were acquired.

Currently, some of the largest financings are going to Mews, Entrata, Vantaca, EliseAI, Hostaway and other companies selling operating infrastructure or automation to established industries.

CRETI's figures support the same conclusion from another angle. PropTech funding stabilized in the first half of 2026, but nearly half of all capital went into only 11 rounds of at least $100 million. MetaProp's latest confidence survey also showed investor confidence rising from 6.2 to 6.5 out of 10, while 63% of surveyed investors expected to maintain their investment pace during the following 12 months.

This is concentrated conviction, not exuberance across the whole market.

So what does the PropTech funding ranking really tell us today?

The PropTech funding ranking shows a market whose historical giants were built with enormous amounts of capital, while the companies climbing fastest today increasingly look like software, AI and operational infrastructure businesses.

Airbnb remains untouchable at roughly $5 billion of historical funding in our dataset. Compass and Opendoor remain next at around $1.5 billion each. Those companies preserve the legacy of an era when investors were prepared to spend heavily to create massive consumer marketplaces and reinvent real estate transactions.

But the companies now climbing fastest tell a different story.

Mews raised $300 million after reaching $19.7 billion of platform transaction volume. Entrata received $200 million at a $4.3 billion valuation while serving properties containing more than 12 million residents. Vantaca secured more than $300 million after reporting 95% revenue growth. EliseAI raised $250 million as AI automation spread through housing operations. Hostaway received $365 million to expand software used by vacation-rental managers around the world.

At the market level, PropTech is neither back to indiscriminate boom conditions nor stuck in a funding winter. Funding has stabilized, but it is exceptionally concentrated: roughly half of first-half 2026 capital went into only 11 $100 million-plus financings.

The ranking still has historical consumer and transaction giants at the top, but the center of gravity of new large-scale investment has moved. The biggest current checks are going toward proven software platforms, AI automation, hospitality technology, building operations and regionally dominant marketplaces. PropTech funding is active again, but investors are making fewer broad bets and much larger bets on companies that already look capable of becoming infrastructure.