Construction and Real Estate Tech: The Big Opportunities that Too Many Entrepreneurs and Investors Have Ignored

Real estate is the most valuable asset in the world. According to Fortune, all of the world’s real estate is worth more than $217,000,000,000. The construction industry employs 6,000,000 people. It also creates close to $1,000,000,000,000 in buildings and structures each year. Take a moment to think about those statistics. They’re mind-blowing. Land and property are extremely valuable. Businesses that develop property and facilitate the exchange of land are also quite profitable. Despite the value of construction and real estate firms, innovation and funding have lagged in these industries when compared to other tech sectors. For example, CB Insights reported that construction tech startups raised less than $800M between 2012 and 2016. When it comes to fundraising, real estate startups have fared better. While real estate startups only raised $221M in 2012, they raised approximately $2.6B in 2016. That said, about $1.28B of the $2.6B raised by real estate startups in 2016 went to just three companies: Homelink, OpenDoor, and SMS Assist. Construction and Real Estate Tech: The Big Opportunities that Too Many Entrepreneurs and Investors Have Ignored DreamIt