Top Ten PropTech Companies in New York

Experts have repeatedly emphasized that New York is fast establishing itself as the global hub for PropTech. As early as 2019, Bloomberg quoted a Savills PLC study in which New York ranked as the most tech-intensive city in the world. The tech transformation of the bustling metropolis of New York has given rise to stellar PropTech innovations in residential and commercial real estate. Abundant in talented professionals, business opportunities, and capital flows, New York is spearheading the global PropTech revolution.       

SUMMARY

• Talented professionals, tremendous business opportunities, and generous capital flows are firmly establishing New York as the new PropTech hub. 

• New York PropTech companies are offering integrated platforms for managing commercial real estate (CRE), tech innovations in co-living, single-family rental property management, FinTech solutions for mortgage and real estate industry, leasing management solutions, self-storage management and exclusive loyalty programs for renters.

• This exclusive list by PropTechBuzz Media features VTS, Common, Avenue One, Haven, Triplemint, Outpost Club, Orchard, Findigs, Stuf and Bilt Rewards. 

New York’s Impressive Top 10 PropTech Companies

1. VTS

Founders: Nick Romito and Ryan Masiello
Founding year: 2011
Headquarters: New York City, NY
Valuation: $ 1 billion – $ 10 billion (post-money valuation as of 2022)
Revenue: $ 100 million (estimated) 
Investors: Insight Partners, CBRE Group, Brookfield Corporation, Amtrust Ventures, BentallGreenOak and others

VTS is the leading PropTech enterprise in commercial real estate (CRE). Recognizing that the four foundational pillars of CRE, Asset Management, Leasing, Property Management, and Marketing must be integrated for advanced customer relationship practices and market insights, the VTS platform allows businesses to do just the same. Top global CRE businesses are using the VTS platform to centralize their data and workflows. 

2. Common

Founder: Brad Hargreaves
Founding year: 2015
Headquarters: New York City, NY
Valuation: $ 100 million – $ 500 million (post-money valuation as of 2020)
Investors: Kinnevik AB, Maveron and Norwest Venture Partners

The PropTech platform Common reimagines co-living through its design studio and tech-driven leasing and property management services. While affordability and flexibility remain the key factors behind the demand for co-living in cities, a membership with Common gives you access to aesthetically pleasing and smart technology-fitted apartments, unmatched guest services, and an app-based Common community network across cities.

3. Avenue One

Founder: Ryan T Stroker
Founding year: 2020
Headquarters: New York City, NY
Valuation: $ 1 billion
Investors: MetLife Investment Management (MIM) and WestCap

The PropTech platform Avenue One allows investors in single-family rental properties to scale their businesses through technology and on-ground support. It uses its network of local partners to identify the best properties and connects them to institutional investors through its data-driven platform.

4. Haven

Founders: Nipun Kant, Aditya Acharya, and Jonathan Chao
Founding year: 2020
Headquarters: New York City, NY
Valuation: Total funding of $ 13.5 million
Investors: Fifth Wall, Fidelity National Financial, RWT Horizons, 1Sharpe Ventures, Conversion Capital, BoxGroup, AME Cloud Ventures and Operator Partners

Haven is a FinTech, PropTech platform that simplifies the mortgage process for lenders, service providers, and borrowers. The platform is used by leading mortgage companies for its user-friendly tools for payments and documentation. The Haven platform also provides features like financial education tools and data-backed insights to drive customer engagement and retention.

5. Triplemint (acquired by The Agency in 2022)

Founders: David Walker and Philip Lang
Founding year: 2011
Headquarters: New York City, NY
Valuation: $ 350 million (joint valuation with The Agency)
Investors: DN Capital, Summit Action, Entrepreneurs Roundtable Accelerator, Dominion Capital, FJ Labs and others

Triplemint’s proprietary search technology uses predictive analysis to recommend the best properties to buyers and renters and connects them to dedicated agents. The PropTech platform’s use of advanced data analytics and customer-friendly interfaces is now deployed in the luxury real estate firm The Agency which acquired Triplemint in 2022.

6. Outpost Club

Founders: Alex Prykhodko and Sergii Starostin
Founding year: 2016
Headquarters: New York City, NY

Outpost Club’s tech-enabled property management systems offer a variety of flexible rental and co-living options to tenants. For property owners, Outpost Club provides end-to-end property management, data-backed financial insights, sales and marketing support, and a dashboard with real-time updates.  

7. Orchard

Founders: Court Cunningham and Phil DeGisi
Founding year: 2017
Headquarters: New York City, NY
Valuation: $ 1 billion
Revenue: $ 1.5 billion (estimated)
Investors: Revolution, Firstmark, Accomplice, Navitas and Juxtapose

What sets Orchard apart from traditional real estate brokerage is its unique offering of ‘buy before you sell’. The FinTech, PropTech platform’s unique ‘Move First’ service allows customers to access the equity in their present home to fund their new purchase. Even after moving into the new home, Orchard takes full responsibility for selling the older property through its analytics-based intelligence and network of local agents.

8. Findigs

Founder: Steve Carroll and Keith Gilvar
Founding year: 2018
Headquarters: New York City, NY
Valuation: Total funds of $ 45.1 million 
Revenue: $ 2 million (in annual recurring revenue (ARR))
Investors: Streamlined Ventures, Colle Capital and Flucas Ventures

Findigs makes the leasing process faster and simpler without compromising on safety. The PropTech platform uses an in-built underwriting engine to verify tenant information and the availability of properties at lightning speed. The platform is trusted by property owners, brokers, and tenants to automate rental processes and ensure data privacy.

9. Stuf 

Founders: Adam Demuyakor, Andrew Balogh, Atit Jariwala and Katharine Lau
Founding year: 2020
Headquarters: New York City, NY
Valuation: Total funds of $ 12.8 million 
Revenue: NA
Investors: Altos Ventures, Allegion Ventures, Wilshire Lane Partners and Harlem Capital.

Stuf is a trailblazing PropTech that modifies available spaces in neighborhoods to self-storage units. The mobile app finds the nearest storage units, manages client reservations, and provides a Stuf Digital Key that secures their belongings. On the supply side, the company partners with property owners to build, manage, and market new self-storage units and pays them a percentage of rent. 

10. Bilt Rewards

Founder: Ankur Jain 
Founding year: 2021
Headquarters: New York City, NY
Valuation: $ 3.1 billion 
Revenue: $ 20 billion (annualized member spend)
Investors: General Catalyst, Eldridge Industries, Left Lane Capital, Camber Creek and Prosus Ventures

Bilt is widely regarded as the first loyalty program that rewards members for paying rent. Since its launch, the PropTech start-up has generated curiosity and enthusiasm among millions of renters. Members can earn points on rent payments through the Bilt app or the Bilt Mastercard and redeem them to travel and shop. The platform also allows members to use the points for rent credits or to make a down payment for their future home.

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