Total Investments in Proptech Companies Dropped 23 Percent in 2018

Despite a growing number of startups and investor confidence at an all-time high, the total money being pumped into real estate tech companies dropped last year, a report by data and event platform CREtech found.

A total of $9.6 billion was invested into real estate companies in 2018, which was a 23 percent dip from the $12.6 billion raised the year before, according to the report.

Proptech experts blamed the sluggish numbers on a changing market with investors more sophisticated, the uncertainty over the national economic climate and a crowded field of private equity funds.