Zillow and Redfin were both founded in 2006, a year that foreshadowed the beginning of big VC investment in real estate tech. Then came the recession, which affected every part of the US economy—but especially the real estate market and the companies surrounding it.
Around 2013, investment in real estate tech picked back up, and it's been going strong ever since. For the purposes of this datagraphic, we've defined real estate tech as a niche industry focused on the buying, selling and renting of real estate—from online marketplaces to companies that provide information to facilitate the transition of ownership. The data excludes companies focused on construction, co-working spaces and other areas adjacent to real estate.
Here's a visual representation of the VC dollars going toward real estate tech startups in the US:
Article by Dana Olsen, Reilly Hammond - PitchBook