Commercial real estate technology — otherwise known as CRE tech — is booming. Just over 3 years ago the $15 trillion commercial real estate industry had virtually no software support and was vastly underserved by available technology. Now new tech concepts are popping up left and right, with VC funds having poured over $1 billion into real estate tech startups in seed capital and Series A funding.
Today, there are hundreds of institutionally-backed software and other technology companies built for the specific needs of commercial real estate that are achieving various levels of traction and success. “CRE tech” is used to identify and communicate this period where the commercial real estate industry becomes tech-enabled.
While CRE tech grows and matures in the commercial real estate market, we’re watching a healthy and necessary consolidation phase where resources become focused on the most promising opportunities. Here with me to discuss those opportunities is the co-founder of Onyx Equities, Jonathan Schultz, and CEO of CRETech.com, Michael Beckerman.
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