Prop-Tech companies are moving to the public markets – The most recent: Matterport, a virtual property tour software platform that is merging with SPAC valuing the company at over $2.3b. The pandemic has accelerated the digital real estate age and digital/virtual showings were a primary beneficiary. Matterport, has raised 114 million in VC funding since inception in 2011, platform saw usage rise over skyrocket since the advent of the COVID-19 pandemic. The firm recently reported a 500% + increase in its subscriber base in 2020. It boasts more than 10 billion square feet of space in its spatial data library across millions of buildings in over 150 countries. This may be only the beginning for Matterport and other successful and up and coming Proptech companies.
Check out our latest virtual property tour here.