Proptech Collective is a volunteer-run collective of real estate professionals, city builders, and entrepreneurs that believes “technological innovation can change the built world for the better.” The organization has released its second annual report with a range of updates from the previous edition.
“Our perspective is that Canada continues to be a very strategic location for proptech innovation on an international scale,” Proptech Collective cofounder and report coauthor Courtney Cooper said.
The report analyzed well over 400 proptech startups in Canada across the sectors of commercial real estate, residential real estate, and construction tech.
“Proptech startups benefit from the large list of globally recognized real estate owners and operators headquartered across the country, supportive policies and programs for entrepreneurs, and a deep talent pool,” Cooper added.
150 startups were added to the database of property technology companies in Canada.
The selection of companies included in the report showcases how often proptech can overlap with fintech, such as with investing platforms like addy or consumer financing services like Nesto. And in most cases, technological innovation is the common thread.
“After a pandemic-induced pullback in activity, renewed interest has returned to this asset class,” noted Frank Magliocco of PwC, a sponsor of the report, citing an “accelerated adoption of technology in real estate and the keen desire to focus on solving problems through innovation.”
“Canada continues to be a proptech hub with a thriving technology ecosystem,” he added.
Below are the top 10 most-funded proptech companies in Canada.
- Construction delivery innovator RenoRun was founded in 2016 and has thus far raised just over $200 million.
- Pre-fab construction disruptor Nexii was founded in 2018 and has so far raised $126 million.
- Storage and logistics firm GoBolt, founded in 2017, has secured combined capital to the tune of $113 million.
- Tenancy platform Certn, founded in 2016, has raised total funding of $108 million.
- Digital mortgage broker Nesto was founded in 2018 and matches the above total raise of $108 million.
- Home service software firm Jobber, a comparative veteran at 12 years old, has thus far raised $87 million.
- Digital-first broker Properly, which was founded in 2018, has so far secured $67 million.
- Pre-fab construction innovator Falk, also founded in 2018, has secured $65 million.
- Home energy company Dcbel is another veteran (2013) with $61 million in venture capital to its name.
- Agent-matching platform Nobul was founded in 2016 and has thus far raised $61 million.
For a full list, check out the Collective’s report.