What it does: Divvy acquires homes for aspiring buyers, then rents to them while helping them save enough cash to eventually make a down payment and purchase the property. The company is working on a second and third location in Westfield, New Jersey and Harrison, New York, bedroom communities just outside of New York City and plans soon to go nationwide.Īdena Hefets, cofounder and CEO of Divvy. So far, the service has one location in Hoboken, New Jersey. The company's locations are in ground-floor retail space, instead of nestled high up in an office tower. Space can be booked by the hour, by the day, or just for one important Zoom call. In real-estate parlance, the term is called "third space," or something between the office and the home. Daybase, founded by former WeWork executives, is offering alternatives for hybrid workers looking for spaces that are close to home but far from distracting children, pets, or roommates. The pandemic worsened the stress in an industry with long-term debt but short-term revenues, and some of the biggest names closed their doors, laid off thousands, or went bankrupt.īut out of the pandemic could come coworking's biggest opportunity yet, as hybrid work has many corporations dropping leases and choosing flexible office spaces that will allow them to be agile in the future. WeWork's fall from grace and failed initial public offering captured the nation's attention to the point where the company's story has been televised, starring Jared Leto and Anne Hathaway. Why it's hot: The coworking industry has had an eventful three years. What it does: Daybase operates flexible coworking spaces built specifically for hybrid workers. Here are the buzziest proptech companies right now, presented in alphabetical order.ĭaybase's cofounders, Doug Chambers, chief operating officer, left, and Joel Steinhaus, CEO. We asked each startup for its valuation and revenue, but many declined to share that information as they seek additional funds. We used the companies' self-reported fundraising numbers, but added in Crunchbase data as a supplement for firms that declined to comment. We compiled this list of 28 startups after evaluating the VC nominations. Last year's list taught us that obstacles lead to innovation, creating new breeds of companies in the real-estate industry. Proptechs dedicated to the steamy residential sector drew nearly half the total funding, by far the largest single share of the pie. Venture-capital investments in private real-estate-technology companies hit a record $32 billion in 2021, up 28% from the previous year, according to the Center for Real Estate Technology & Innovation. Among those trends are soaring home prices, a broken supply chain, a house-flipping craze, and a growing work-from-home culture. Insider reached out to more than 20 venture investors who focus on real-estate and construction technology to ask for their nominations of the proptech startups best positioned to address the shortcomings of the industry or that are tackling trends exacerbated by the pandemic. The pandemic has changed the landscape of the real-estate world and revealed a new set of challenges.Ī new crop of property-technology, or proptech, startups is making noise by attacking some of those challenges head-on.
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