When Paul Levine began working at the listing portal Trulia during the housing slump, venture capitalists didn’t want to “touch real estate with a 10-foot pole,” he said.
How times have changed.
Levine, now a managing director at Sapphire Ventures, expects total funds invested in real estate tech to jump to $10 billion in 2019. That would be up from $4 billion in 2016 and $400 million in 2012, according to a chart he presented Friday onstage at Inman Connect Las Vegas.
So where is this money going exactly?
Levine named four real estate bull’s-eyes for venture capitalists in a presentation entitled “What’s Next in Real Estate.” They are: iBuyers, “tech-forward” brokerages, new types of financing and transaction automation.
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