Top 10 Proptech Unicorns in 2023

The global proptech industry has been booming recently. It was valued at $25.1 billion in 2021 and is expected to grow at a CAGR of 15.8% by 2030. The year 2021 also witnessed a global investment of $24.3 billion in proptech companies.

As the proptech industry is growing, many proptech businesses have joined the unicorn club. These innovative firms are revolutionizing the real estate and property technology sector. 

This article provides a list of the top 10 proptech unicorns in 2023 and some key details about them.

1. ServiceTitan

• Founders: Ara Mahdessian and Vahe Kuzoyan
• Founding year: 2007
• Headquarters: Glendale, California, USA
• Valuation: $10+ billion
• Revenue: Approximately $250 million per year
• Investors: Sequoia Capital Global Equities, ICONIQ Growth, Battery Ventures, Tiger Global Management, Bessemer Venture Partners, and more

ServiceTitan is a software platform that functions as a personal assistant for service companies. It makes it easier for businesses that manage services such as  HVAC, plumbing, and electrical to complete their task more quickly. ServiceTitan improves daily operations with capabilities for scheduling, customer communication, and team coordination. It has changed the game for companies in the home care sector, making it simpler for them to provide top-notch service to their clients. 

2. Houzz

• Founders: Adi Tatarko and Alon Cohen
• Founding year: 2009
• Headquarters: Palo Alto, California, USA
• Valuation: $4+ billion
• Revenue: Approximately $650 million per year
• Investors: Sequoia Capital, GGV Capital, Kleiner Perkins, New Enterprise Associates, and others.

For homeowners and design enthusiasts, Houzz is a virtual gold mine. It serves as a forum for professionals who can bring your home design ideas into reality. Houzz offers concepts for all facets of home design, from the kitchen to the garden, with millions of high-quality photographs and articles.

3. Figure

• Founder: Mike Cagney
• Founding year: 2018
• Headquarters: San Francisco, California, USA
• Valuation: $3+ billion
• Revenue: Approximately $100 million per year
• Investors: Ribbit Capital, DCM Ventures, and RPM Ventures

Figure is revolutionising how individuals access home equity and mortgages. The company blends cutting-edge home equity solutions with blockchain technology. Figure provides services such as home equity lines of credit (HELOC) and mortgage refinancing. For homeowners, it facilitates quicker and easier access to home equity.

4. Plume

• Founders: Adam Hotchkiss, Aman Singla, Fahri Diner, and Sri Nathan
• Founding Year: 2015
• Headquarters: Palo Alto, California, USA
• Valuation: $2+ billion
• Revenue: Approximately $100 million per year
• Investors: Spark Capital, Comcast Ventures, and Insight Partners

The goal of the tech startup Plume is to improve the performance of your home Wi-Fi. Plume optimised the performance and security of W-Fi with its novel methodology. It works with internet service providers to develop clever Wi-Fi solutions for your home.

5. Side

• Founders: Guy Gal, Edward Wu, and Hilary Saunders
• Founding Year: 2017
• Headquarter: San Francisco, California, USA
• Valuation: $1+ billion
• Revenue: More than $100 million per year
• Investors: Investors in Side include Matrix Partners, Sapphire Ventures, and Trinity Ventures

Real estate technology platform Side supports the success of real estate brokers and agents. It empowers with technology, marketing, and administrative assistance. Side is revolutionizing the real estate game by offering a platform to brokers, enabling them to provide better service to their clients.

6. Divvy 

• Founders: Adena Hefets, Alex Klarfeld, Brian Ma, and Nicholas Clark
• Founding Year: 2017
• Headquarter: San Francisco, California, USA
• Valuation: Approximately $2 billion
• Revenue: Approximately $100 million per year
• Investors: Andreessen Horowitz, Coatue, and Acrew Capital

Divvy is reinventing the way people become homeowners. The company allows people to rent a home with the option to buy it later. It’s a modern approach to homeownership that’s making it more accessible for many. 

7. HomeLight

• Founders: Drew Uher
• Founding Year: 2012
• Headquarter: San Francisco, California, USA
• Valuation: Approximately $1 billion
• Revenue: More than $100 million per year
• Investors: Zeev Ventures, Menlo Ventures, and Citi Ventures

HomeLight is a real estate technology platform connecting homebuyers and sellers with real estate agents. It uses data-driven insights to help people make informed decisions in the real estate market. The platform simplifies the process of finding the right agent for all real estate needs.

8. Pacaso

• Founders: Austin Allison and Spencer Rascoff
• Founding Year: 2020
• Headquarter: San Francisco, California, USA
• Valuation: Over $1 billion
• Revenue: Approximately $50 million per year
• Investors: First Republic Bank and others

Pacaso is changing the game in luxury real estate. It allows people to share ownership of luxury homes, providing a unique way to enjoy high-end properties. Pacasso is making luxury homeownership more accessible to a broader audience. The company is offering a new and exciting model for those who dream of owning a share in upscale properties. 

9. Snapdocs

• Founders: Aaron King
• Founding Year: 2012
• Headquarter: San Francisco, California, USA
• Valuation: $700 million
• Revenue: Over $50 million per year
• Investors: F-Prime Capital, Y Combinator, Sequoia Capital, and others

Snapdocs is a digital platform transforming the mortgage industry. Snapdocs streamlines the mortgage closing process, connecting lenders, title companies, and notaries for a more efficient and transparent experience. The platform simplifies and digitises the traditionally complex mortgage-closing process. 

10. Better

• Founders: Vishal Garg
• Founding Year: 2014
• Headquarter: Greater New York City Area, New York, USA
• Valuation: Over $6 billion
• Revenue: More than $500 million per year
• Investors: Goldman Sachs, Kleiner Perkins, and Pine Brook Partners

Better is making the mortgage and home refinancing process simpler and more accessible. Better provides an innovative approach to mortgage services, reducing the complexity and hassle often associated with home financing. The company has gained recognition for its rapid growth and disruptive approach to the mortgage industry. 

Conclusion

The proptech industry is expected to grow at a rate of 15.8% per year by 2023. Some of the biggest proptech firms have garnered significant funding and are revolutionising the real estate industry. These top 10 companies are pioneers in introducing novel and creative concepts to the field of proptech.

They are improving real estate by thinking outside the box and coming up with novel ideas. As the proptech industry advances, these companies demonstrate that there is still a lot of space for positive change. In addition, we can say that the future of real estate is bright and in capable hands.