Meet the 7 early-stage startups blending tech and real estate that just got accepted to a high-profile accelerator. One is a TaskRabbit-like app for construction workers.
- MetaProp, an investor in real-estate-tech startups, just announced its seventh accelerator cohort.
- The seven startups include a labor marketplace for construction workers, a subscription service for feminine products in the office, and a company that provides artwork to businesses.
- According to a report by CRETech, the $14 billion in venture investment in proptech companies in the first half of 2019 has already topped the total amount raised in 2018.
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This has been a banner year for proptech — the at times hard-to-define industry blending real estate and technology.
According to a report by CRETech, proptech investment in the first half of 2019 has already topped the amount raised in all of 2018. Funds have poured $14 billion into proptech companies in the first half, up more than 300% from the same period last year, and 2019 is on pace to be the biggest year ever for proptech investment.
Proptech-focused venture firms like MetaProp, Fifth Wall, Moderne, and Camber Creek have played a significant role in the space’s rising profile. And MetaProp, founded in 2015, just announced its fifth accelerator cohort at New York’s Columbia University, bringing its overall number of cohorts to seven.
The accelerator offers each of the seven companies in the cohort a minimum investment of $50,000, scaling up to $250,000. The 22-week program includes mentorship from companies including the property giant Brookfield and the proptech unicorn VTS.
The MetaProp program is one of the only accelerators in the proptech space — though Colliers and Techstars also operate an accelerator in Toronto. Out of 250 applications, MetaProp placed seven startups in the cohort, reflecting an acceptance rate substantially lower than their Ivy League hosts’ own undergraduate acceptance rate.
MetaProp invests primarily in early-stage companies, some of which come out of their accelerator. Enertiv, a commercial-real-estate-data company, Bowery Valuation, an appraisal-software company, and Flip, a company that makes subleasing easier, have all gone through the accelerator and subsequently raised more than $