<div>
  <ul>
    <li>
      <p>
        Matterport, a 3D image capturing platform, has announced the acquisition of VHT Studios, a real estate marketing platform, for an undisclosed sum.&nbsp;
      </p>
    </li>
  </ul>
  <ul>
    <li>
      <p>
        Founded in 1998, VHT Studios Offers solutions for real estate brokers and agents that include visual media services such as high-end photography, drone imagery, floor plans, and digital marketing for real estate.
      </p>
    </li>
  </ul>
  <ul>
    <li>
      <p>
        Through this acquisition, Matterport plans to integrate VHT Studios&rsquo; digital marketing services into Matterport's 3D digital twin technology and expand its product offerings to enter other verticals such as commercial real estate, travel and hospitality, and the retail sector.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://www.globenewswire.com/news-release/2022/07/07/2476308/0/en/Matterport-Acquires-VHT-Studios-to-Accelerate-Adoption-of-Digital-Twins-for-Real-Estate.html">
      Company press release
    </a>
  </p>
  <p>
    <a href="https://seekingalpha.com/news/3855199-matterport-acquires-vht-studios-to-ramp-up-adoption-of-digital-twin-tech-in-real-estate">
      Seeking Alpha
    </a>
  </p>
</div>


Residential PropTech

Matterport acquires visual media and digital marketing firm to expand product offerings

PROMINENT_CATEGORY

<div>

 <p>Online real estate platform, HomeLight, has received a USD 20 million funding in a Series D extension round led by Zeev Ventures and participation from Stereo Capital and Menlo Ventures. This takes HomeLight's total funding to USD 762.5 million.</p>
 <p>Additionally, HomeLight rolled out Buy Before You Sell, a bridge loan product that enables home buyers to sell their current home prior to closing on a new one. This service gives home buyers the possibility of taking out up to 70% of their existing home's equity for making offers on new properties.</p>
 <p>The freshly acquired funds will be utilized to make the Buy Before You Sell product available to lenders and agents in another 40 states, increasing its reach to 47 states in total.</p>
 <p>Buy Before You Sell has already been embraced by 40 lenders, including The Loan Store and Luminate Home Loans. HomeLight has also partnered with over 10,000 loan officers and 28,000 real estate agents, and has unlocked over USD 655 million in equity from clients' existing homes all over the US.</p>

</div>

HomeLight raises USD 20 million in Series D extension; launches Buy Before You Sell

<div>
 <p>Conversational AI and real estate rental management platform, EliseAI, recently secured USD 75 million in a Series D funding round. Sapphire Ventures spearheaded the funding round, with contributions from Navitas Capital, Point72 Private Investments, DivcoWest Ventures, and Koch Real Estate Investments. EliseAI's total funding has now reached USD 101.9 million, pushing the company's post-money valuation to over USD 1 billion.</p>
 <p>EliseAI intends to allocate these funds to scale up its team, fuel product innovation, and augment its portfolio of industry collaborations.</p>
 <p>EliseAI has evidenced over 2x growth in annual recurring revenue following its <a href="https://sp-edge.com/updates/19182">Series C funding</a> the previous year. In the realm of multifamily property owners and operators, the platform has partnered with 70% of the top 50. Additionally, EliseAI operates in one out of every 12 multifamily apartment units in the United States.</p>
</div>

EliseAI reaches unicorn status with USD 75 million in Series D funding

<div>
 
 <p>Doma, a title and escrow service provider, has entered into a partnership with Intellicheck, a company specializing in identity validation solutions. The partnership will facilitate the provision of an ID verification tool to title agents and approved attorneys through Doma's platform.</p>
 <p>The objective of this collaboration is to utilize Intellicheck’s identity verification solution. This will assist in vetting, analyzing, matching, and minimizing the risk associated with the identification credentials of individuals involved in real estate transactions. The partnership is also aiming to reduce the potential for real estate scams, with a specific focus on seller impersonation fraud.</p>
 <p>Access to Intellicheck's web-based identity verification solution will be provided free of charge to title agents and approved attorneys through Doma’s platform. This enables the validation of identification credentials for parties in real estate transactions.</p>
 
</div>

Doma partners with Intellicheck to offer an ID verification tool

<div>

<p>Zillow, the real estate marketplace, has ended its lawsuit against Arizona Regional Multiple Listing Service (Arizona MLS) and related parties. It had accused them of infringing antitrust laws through a boycott of Zillow's property tour scheduling service, ShowingTime.</p>
<p>The suit filed in December, in an Arizona federal court, alleged that Arizona MLS had conspired to favor its own platform, Aligned Showings, over Zillow's ShowingTime.</p>
<p>In the settlement, both parties have agreed to work towards enhancing the property showing experience, permitting brokers to use both the Aligned Showings and ShowingTime platforms. The defendants, however, have refuted any wrongdoing, maintaining that their choice to use Aligned Showings was an independent decision.</p>

</div>

Zillow settles lawsuit against home listing services over tour scheduling

<div>
 <p>Propy, a property transaction management platform, has announced a partnership with Parcl, a real estate investment platform built on Solana. The collaboration aims to enhance data analytics for properties minted on <a href="https://sp-edge.com/updates/25409"> PropyKeys </a>.</p>
 <p>The partnership will allow Propy to use Parcl's data integrations to improve the valuation of real estate properties minted as NFTs on the <a href="https://sp-edge.com/updates/25409"> PropyKeys </a> platform. This gives the company access to Parcl Labs' programming interface, delivering valuation and analytics tools that improve accuracy and transparency in property valuations.</p>
 <p>Since launching <a href="https://sp-edge.com/updates/25409"> PropyKeys </a> earlier this year, Propy has minted 200,000 addresses on its blockchain, including 80,000 in the US by property owners.</p>
</div>

Propy partners with Parcl to improve real estate NFT valuations and analytics

<div>
 <p>Findigs, a proptech company, has secured USD 27 million in a Series B funding round. The lead investor was Nyca Partners, with contributions also coming from RPM Ventures, Streamlined Ventures, Expa Ventures, Activant Capital, Colle Capital, and Frontier Venture Capital.</p>
 <p>The investment will be allocated towards expanding the company's screening automation service, growing its team, and enhancing both platform and data capabilities.</p>
 <p>The company provides a rental screening platform which integrates fraud detection with a unique ruleset orchestration engine. This innovative approach allows operators to reduce bad debt by up to 50% and accelerates rental decisions from a week-long period to less than a day, on average. With this funding, Findigs unveiled DecisionAssist, a comprehensive automated screening product.</p>
</div>

Findigs raises USD 27 million in Series B funding to expand services

<div>
 
 <p>Mynd, a property management platform for single-family rentals (SFRs), has merged with Roofstock, an investment platform also concentrating on SFRs. This merger aims to provide an integrated service for property investment and management. Details of the transaction have not been revealed.</p>
 <p>The new entity aims to supply analytical insights into SFRs, as well as aid in making informed buying and selling decisions, hence facilitating real estate investors. </p>
 <p>At present, Mynd manages SFRs spanning over 25 markets all over the US. </p>
 <p>Established in 2015, Roofstock is a platform that grants investors access to the vast USD 5 trillion SFR industry. It supplies data and provides integrated services, assisting throughout the investment process. </p>
 
</div>

Mynd merges with Roofstock to expand platform offerings

ANALYST_QUICK_TAKE

<div>
 
 <p>DocuSign, a firm that provides electronic signature solutions has agreed to purchase Lexion, an AI based contract management platfrom for $165 million cash. The move is geared towards enhancing its position in the Intelligent Agreement Management (IAM) sector and boosting the functionalities of its IAM platform. The founders of Lexion, Gaurav Oberoi (CEO), James Baird (architect), and Emad Elwany (CTO), will assume senior product management and engineering roles at DocuSign following the acquisition.</p>
 <p>Lexion, since its establishment in 2019, offers an AI-driven contract management platform which facilitates the centralization of contract processes, aids in contract drafting and reviewing, and enables the extraction of key information as well as automating multiple workflows.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> Recent acquisitions within the PropTech space were driven to support product development strategy, enhance user experience, and leverage property data and technological capabilities. 1) CoStar Group <a href="https:<br>
//sp-edge.com/updates/28692"> to acquire Matterport </a> to use Matterport's technology to enhance its online real estate marketplaces and other offerings (April 2024), 2) Zillow <a href="https:<br>
//sp-edge.com/updates/23398"> to acquire Follow Up Boss </a> to improve customer experience and support further investments across its product offerings (November 2023), and 3) PriceHubble <a href="https:<br>
//sp-edge.com/updates/23129"> acquired WhenFresh </a> to build on synergies by using WhenFresh’s residential property data and technological capabilities, expand its data solution offerings, and enhance its market position across the UK (October 2023).</p>

DocuSign to acquire Lexion for USD 165 million in cash

<div>
 
 <p>Redfin, an online real estate marketplace, has agreed to pay USD 9.25 million to settle a commission lawsuit, subject to court approval. This is part of a broader settlement involving property tech companies accused of artificially inflating agent commissions.</p>
 <p>The company stated that this settlement dispenses all claims and frees Redfin and its affiliates, without conceding to any liability or validation of claims.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> Over the past two years, other PropTech companies have been under legal scrutiny over deceptive marketing practices, antitrust, and consumer protection allegations:<br>
 <a href="https:<br>
//sp-edge.com/companies/1008"> Zillow </a> won its <a href="https:<br>
//sp-edge.com/updates/22354"> antitrust and consumer protection </a> lawsuit against Rex in October 2023, while <a href="https:<br>
//sp-edge.com/companies/213829"> Opendoor </a> was fined USD 62 million by the FTC for allegedly misleading home sellers with <a href="https:<br>
//sp-edge.com/updates/11999"> deceptive marketing practices </a> in August 2022.</p>

Redfin settles for USD 9.25 million over commission lawsuit

INCUMBENTS_PRESENT

<div>
 
 <p>CoStar Group is set to acquire Matterport, the 3D data capture platform, in a combined cash and stock transaction. The value of this deal is estimated at USD 5.50 per share, including an equity value near to USD 2.1 billion and an enterprise value approximately at USD 1.6 billion, as of the closing price of CoStar Group's common stock on April 19, 2024. The acquisition awaits approval from Matterport shareholders and needs to fulfill standard closing terms, which includes getting regulatory approvals.</p>
 <p>CoStar Group aims to use the technology of Matterport to refine its online real estate marketplaces along with other services. This would offer users a deep and engaging property viewing experience.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> <a href="https:<br>
//sp-edge.com/companies/207517"> DocuSign </a> , another proptech disruptor operating in the transaction closing tools segment, announced <a href="https:<br>
//sp-edge.com/updates/25004"> exploring options for potential sale </a> in December last year amid slowing growth and citing recent leadership changes, layoffs, and lower-than-expected revenue forecasts as having impacted the company's stock performance.</p>

All Updates

Matterport acquires visual media and digital marketing firm to expand product offerings

HomeLight raises USD 20 million in Series D extension; launches Buy Before You Sell

EliseAI reaches unicorn status with USD 75 million in Series D funding

Doma partners with Intellicheck to offer an ID verification tool

Zillow settles lawsuit against home listing services over tour scheduling

Propy partners with Parcl to improve real estate NFT valuations and analytics

Findigs raises USD 27 million in Series B funding to expand services

Mynd merges with Roofstock to expand platform offerings

DocuSign to acquire Lexion for USD 165 million in cash

Redfin settles for USD 9.25 million over commission lawsuit

CoStar Group to acquire Matterport in a cash and stock transaction

Residential PropTech

Matterport acquires visual media and digital marketing firm to expand product offerings

Contact us