Markets
Proptech Funding Consolidated Into AI Underwriting and Operations While Generic Real Estate Software Starved
Crunchbase's September 1 sector snapshot puts 2026 proptech at $8.7 billion across 794 deals against $12.3 billion for all of 2025, on pace to roughly match last year. The money moved to construction tech, property operations, underwriting and transaction infrastructure with demonstrable ROI, while generic real estate software and later-stage companies without growth struggled. The consolidation is louder than the funding: Autodesk bought MaintainX for $3.6 billion, Compass bought Anywhere for $1.6 billion, and CoStar bought Zonda for $800 million. Four of the five largest 2026 deals happened outside the US, mostly in Europe.
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