Prior to March 2020, a disruption in the tech world was viewed as innovative, bold and creative. Back then, VCs viewed those tech disruptors in much the same way.
Then the pandemic came, illustrating just how essential thesetools had become to commercial real estate.
“Broadly speaking, in the narrative arc of the real estate market as
the end market, the short answer is almost everything changed in
terms of disruption and flux,” laments Zak Schwarzman, general
partner of MetaProp. “But juxtaposed with Prop Tech, what’s
changed is much, much less.”
Indeed, during the initial weeks of the crisis, timely capital
supported new business intelligence tools tailor-made for the
moment. In short, many sectors within the commercial real
estate industry turned to remote tools to maintain continuity
during the pandemic, causing investors to double down on
“Prop Tech companies are in a unique position to help shape the
new normal of our post-COVID world,” says Allison Xu, investor at
Bain Capital Ventures. “Tech companies have the opportunity to
help property owners determine how to create and maintain safer
spaces for the public. This includes how buildings are designed,
constructed and maintained on a daily basis. Data and insights will
become increasingly important, and the rise of Io T solutions and
other smart building technology will likely accelerate to monitor
In the ensuing weeks after the pandemic began, MetaProp
FROM DISRUPTIONTO SILVER LININGS
HOW TECH TOOK ON THE HEALTH AND FINANCIAL CRISIS.
BY LISA BROWN