Top LA Proptech Companies in 2021

Real estate, like apparently everything else in the COVID era, has had a strange year. 2021 has seen a continued shift towards a seller’s market and an ever-increasing demand for short-term rentals. For high tech companies, there has been a lot of opportunity – and money – in high-value homes and assets.

In the Los Angeles area, several proptech companies have had an impressive year amidst the turmoil. Here’s our year-end look at some of the big moves in the industry.


BeforeStay

BeforeStay offers short term rental options for luxury properties. Similar to Airbnb or Vrbo (but more upscale), the company enters into long-term rental contracts with property owners in desirable areas and then converts the properties into vacation rentals. In 2021, Avantstay expanded to new markets in Colorado, South Carolina and Hawaii; in total, they have deals in over 600 properties in 60 different US cities. In addition to rental assistance, AvantStay also offers other premium services for owners, such as filling a property’s refrigerator with food before a guest arrives, or offering a design team. internal to ensure the property is as chic and luxurious as possible. AvantStay has grown over 1,000% over the past three years with no signs of slowing down in 2022: the company aims to have 2,500 listed properties by 2023.

Crexi

Crexi has been a driving force behind Los Angeles’ proptech scene since its inception in 2014, and 2022 has been no different. The company allows users to buy, sell and rent commercial real estate through their online portal. Led by CEO Mike Degiorgio, Crexi currently has over half a million listings, and the Marina Del Rey-based company is recruiting for a variety of roles as it grows. In 2021, the site struck its biggest ever deal when it sold a Las Vegas business park at auction for $ 205 million, setting a record for the largest single asset sale in a online transaction.

End point

Founded in 2018, the El Segundo-based securities and escrow firm raised $ 150 million in October 2022. As the name suggests, End point offers tools for brokers, agents and buyers to follow the final steps of buying a home. This fall’s massive funding round was provided by First American Financial Corp. and brings Endpoint’s total funding to date north to $ 220 million. The company says its software has been used to close more than $ 2.5 billion in real estate transactions. The new funding will be used in part to hire 80 new jobs, bringing the company’s number of employees to nearly 300.

Real EstateMogul

Real EstateMogul has been around since 2012, but the Los Angeles-based company has recently been gaining momentum. RealtyMogul offers a real estate crowdfunding platform that allows ordinary people to pool and buy equity in properties across the United States. RealtyMogul facilitated the $ 3.5 billion investment on its platform, and in September the company saw its users invest $ 10 million in less than 24 hours to finance the construction of a luxury skyscraper in Nashville, Tennessee. As the number of users continues to grow beyond 200,000 investors, RealtyMogul offers individuals a way to pool their money and compete in markets that were once reserved for private equity giants.

Ylopo

Ylopo is a tool for real estate agents to gain business with homeowners looking to sell. The Santa Monica-based company helps agents generate, maintain and convert sales leads with a suite of digital tools. Essentially a digital marketing assistant, the technology has thrived in the seller market brought on by COVID. Ylopo – taken from the suffix of ‘monopoly’ spelled backwards – even caught the attention of Facebook: In April 2021, the social media giant named the digital marketing company as part of its Top Providers initiative, this which basically means that realtors using Ylopo will have access to the best Facebook marketing and advertising partners.

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