When an industry is called out in The Wall Street Journal, investors take notice. Last week, the Journal proclaimed that venture capitalists are “pouring money” into startups that leverage technology to make commercial and residential construction faster and easier.
Quoting from a recent report from research company CREtech, the Journal reported that investment in private contech firms increased from $352 million in 2016 to more than $6 billion in 2018. As of the end of June, investments totaled more than $4 billion, indicating that capital injections into contech in 2019 could surpass the $4 billion made in 2018.