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Real Estate is the world's largest asset class, worth approximately $277 trillion or about three times the combined value of every publically traded company in the world. For decades, property technology, or proptech for short, has been largely overlooked and has stood in the shadows of emerging financial technology or fintech companies such as SoFi and Robinhood.
Analysts previously attributed this slower adoption to lower investment volume. However, this is no longer the case. Proptech companies are growing faster than ever, with over $23 billion invested in 2020 alone. This trend is evident based on reports from industry players. For example, 81% of real estate organizations plan to integrate proptech into their business processes in the coming years, according to TechCrunch. Furthermore, the growing work-from-home workforce continues to strengthen these numbers.
In short, proptech companies are growing faster than ever and becoming of great importance in our companies. We've composed a list of the Top 10 Most Innovative Proptech Companies that you should keep on your radar.
Top 10 Most Innovative Proptech Companies
1. Hive
| Year Founded: | 2016 |
| Category: | Business Intelligence / Property Management / Lease Management |
| Website | crehive.com |
| Description: | Hive is a web-based software platform that helps small and midsize businesses manage their commercial real estate portfolios. What differentiates Hive from other proptech companies is its seamless integration into your existing workflow. |
2. Bodhi
| Year Founded: | 2020 |
| Category: | Building Management System |
| Website | bodhi.software |
| Description: | Bodhi is a cloud-based building management platform that brings alerts, monitoring, and analytics of all devices associated with it. |
3. VTS
| Year Founded: | 2012 |
| Category: | Leasing and Asset Management |
| Website | vts.com |
| Description: | VTS is a leasing and asset management platform that aims to help real estate professionals work smarter, not harder. |
4. Proper.ai
| Year Founded: | 2014 |
| Category: | Accounting |
| Website | proper.ai |
| Description: | Proper is an AI-powered accounting and bookkeeping service for residential and commercial properties. |
5. Cadre
| Year Founded: | 2014 |
| Category: | Investment |
| Website | cadre.com |
| Description: | Cadre is developing an investment platform that gives people direct access to curated commercial real estate properties alongside some of the largest financial institutions in the world. |
6. Matterport
| Year Founded: | 2011 |
| Category: | Construction |
| Website | matterport.com |
| Description: | Matterport is the leading spatial data company focused on digitizing and indexing the built world. Their 3D data platform enables anyone to turn a space into an accurate and immersive digital twin that can design, build, operate, promote, and understand any space. |
7. Buildium
| Year Founded: | 2004 |
| Category: | Property Management |
| Website | buildium.com |
| Description: | Buildium is a residential property management platform that helps real estate professionals win new business from property owners and community associates seeking services. |
8. Yardi
| Year Founded: | 1982 |
| Category: | Property Management |
| Website | yardi.com |
| Description: | Yardi was one of the first mainstream property management platforms. However, they continue to diversify their product line and expand their services. |
9. Beyond HQ
| Year Founded: | 2019 |
| Category: | Business Intelligence |
| Website | beyondhq.co |
| Description: | Develops software to help companies figure out where and when they should open new offices. |
10. Apto
| Year Founded: | 2012 |
| Category: | Customer Relationship Management |
| Website | apto.com |
| Description: | Apto is a leading CRM that helps brokers to help brokers drive deal flow. |
Conclusion
Proptech companies are changing the landscape of commercial real Estate in many ways. They're growing faster than ever and will play an essential role in the future of your company. We're proud to be a part of the proptech community and believe that everyone should be a part of this important conversation. That's why we built Hive to be accessible to everyone. To learn more about Hive, our mission, and our platform, visit us at crehive.com.
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