Hello there! Have you heard about PropTech?

It‘s short for Property Technology, and it‘s radically changing real estate.

PropTech companies are using digital tools like AI, big data, IoT, and more to optimize every facet of properties – from searching to designing, renting, buying, financing, maintaining, and managing.

Excited to examine the top 13 PropTech disruptors worldwide? Read on to discover how they are shaping the future of buildings and construction. I‘ve ranked them by annual revenue, starting from the smallest.

What Does A PropTech Company Do?

Quite simply, a PropTech company leverages technology to improve real estate processes.

They develop software, apps, analytics, and other innovations across functions like:

• Online listing searches
• Property transactions
• Rental and lease management
• Design and architecture
• Construction and building
• Property funding and financing
• Energy efficiency
• Space design and utilization
• Building access control and security
• Repair and maintenance

For each major pain point faced by stakeholders in real estate – buyers, sellers, landlords, tenants, developers, contractors – PropTech offers efficient software solutions.

PropTech companies serve clients across residential, commercial, industrial, and hospitality real estate.

Now, let‘s analyze the top 13 players in this space.

#13: UtilizeCore – $2 Million Annual Revenue

Founded in 1963, UtilizeCore simplifies property maintenance for real estate managers.

• UtilizeCore‘s software matches suitable subcontractors to maintenance and repair jobs at various properties.

• It makes it easy for property managers to schedule electricians, plumbers, painters, landscapers, handymen, and other service providers as per their portfolios‘ needs.

• UtilizeCore also features online payment processing, a communication platform, and equipment tracking – all hugely beneficial for managers handling multiple properties.

The company reported $2 million in annual revenue in 2021. Next, we‘ll cover an upcoming construction technology unicorn.

#12: HoloBuilder – $7.3 Million

HoloBuilder is a US-German startup founded in 2015 that helps construction companies track project progress using 360-degree site photography and interactive visualizations.

• HoloBuilder creates detailed digitized representations of construction sites using camera drones and other tools.

• These interactive walkthroughs allow contractors, architects, and engineers to monitor builds closely without visiting sites – especially useful for large, remote projects.

• HoloBuilder is working with several top North American contractors and construction engineering giants.

The startup has raised $16.5 million in funding so far and reported $7.3 million in revenue last year. Next up is a leader in the digital transformation of rent collection and payments.

#11: Letus – $8.7 Million

Formerly called Rentmoola, Letus develops software focused on simplifying rental payments for property owners and tenants.

• Letus offers an automated rent collection network that removes friction from monthly payments.

• It allows tenants flexible options to pay digitally from any device and any location.

• Letus also provides interest-free credit lines to tenants in case of emergencies.

• Landlords enjoy seamless premium features too – like tracking payments in real-time across portfolios.

With strong adoption among property managers, Letus posted $8.7 million in 2021 revenue. Next up – a company strategically placing social hubs in urban neighborhoods.

#10: Reef Technology – $16 Million

Miami-based Reef transforms unused urban spaces into bustling social venues called Reefs.

• Reef partners with real estate owners to add food outlets, stores, and other amenities suited to local communities on their properties.

• Reef‘s experts carefully determine the best use-case – say, a mini-grocery store in a former garage – based on neighborhood needs.

• Reef has also developed a robust parallel parking solution – with a network of technology-enhanced lots passengers can discover and pay for via its app.

With marquee backers like Softbank and Mubadala investing over $1.5 billion, Reef is a rising PropTech star – with $16 million in 2021 revenue.

Up next is a company utilizing AI sensors to unlock the future of workspaces.

#9: VergeSense – $16 Million

Founded in 2017, VergeSense provides sensor-based technology and analytics to help companies design high-performing offices aligned to employee needs.

• VergeSense offers wireless occupancy sensors that provide actionable, real-time data on how employees utilize work areas.

• Powerful AI crunches numbers from thousands of interactions to identify usage patterns down to specific zones and desks.

• VergeSense delivers predictive analytics to suggest location-based layout recommendations that can save up to 40% office space.

With clients like Cisco, Deloitte, and PepsiCo, VergeSense posted $16 million revenue in 2021. Next, we explore a leader in property access technology.

#8: ButterflyMX – $21 Million

New York-based ButterflyMX develops smartphone-powered security and access systems for apartments, condos, offices, and other properties.

• ButterflyMX is best known for its sleek, app-controlled video intercoms that allow homeowners and building staff to visually confirm and remotely grant entry to visitors from anywhere.

• It also powers solutions for contactless access, elevator/door controls, self-guided tours, equipment sharing, license plate recognition for parking, environmental monitoring, and more.

• ButterflyMX serves over 12,000 properties globally and has raised around $50 million in funding so far.

• In 2021, the company generated $21 million in annual recurring revenue.

Next, we‘ll learn about a company integrating AI with Big Data to deliver unparalleled property insights.

#7: Reonomy – $21 Million

New York-based Reonomy depicts itself as the "commercial real estate‘s data vault" – integrating vast data sets with machine learning algorithms to deliver property insights.

• Reonomy‘s database covers over 150 million properties across the US – spanning information on owners, transactions, loans, distressed assets, and more.

• Its technology extracts value from gigantic data sets to uncover occupancy stats, ownership history, sales comps, project debt, distressed deals, and other intelligence – all visualized on its platform.

• Reonomy serves customers like Blackstone, JPMorgan, Zillow, Douglas Elliman, and Wells Fargo.

Reporting $21 million in 2021 revenue, Reonomy is a force empowering smarter decisions across real estate investing, lending, development, and brokerage.

Next up – a company providing digital transformation services for leading realty brands.

#6: Ascendix Technologies – $22 Million

Founded in 1996, Dallas-based Ascendix Technologies builds customized software to help modernize real estate brokers, MLS platforms, and property management leaders.

• Ascendix offers tailored web and mobile apps spanning CRM, listings, transactions, mortgage services, payments, and more.

• They serve prominent real estate enterprises like Century 21, Weichert Realtors, and Apartments.com.

• Flagship products include marketing automation platform AscendixRE CRM and property marketing toolkit Composer.

With substantial technology expertise across search, BI, cloud, and AI – Ascendix posted $22 million in revenue in 2021 while empowering top brands to grow.

Next, we explore a PropTech unicorn making rentals radically easier.

#5: Zumper – $44 Million

Founded in 2011, Zumper has an enormously popular rental platform used by millions to find or lease apartments, homes, and other properties.

• Zumper offers slick iOS and Android apps enabling users to search, tour, apply, or pay for rentals on the go using their phones.

• With over $150 million in funding Zumper serves 195 metro markets covering 1+ million listings in the US.

• It‘s been featured among America‘s best startup employers by Forbes in 2021.

Generating $44 million annually, Zumper has emerged as a formidable force propelling innovation in realty searches and rental transactions.

Up next – a global leader in short-term and vacation rental management solutions.

#4: Guesty – $52 Million

Founded in 2013, Tel Aviv-based Guesty develops comprehensive software to help owners and property managers handle short-term rentals effortlessly across channels.

• Guesty offers tools to seamlessly list, distribute, and manage listings across Airbnb, Vrbo, Booking.com, Expedia – 150+ channels.

• Its platform also handles cleaning services, pricing optimization, reputation building, and other aspects critical for this business.

• Guesty serves professionals managing over 100,000 properties worldwide.

With $110 million+ in funding, Guesty enables clients to grow turnover multi-fold by smoothing the short-term rental experience – contributing to its own $52 million revenue.

Next up – a widely celebrated unicorn reimagining shared workspaces.

#3: WeWork – $2.57 Billion

Founded in 2010, New York-based WeWork is a pioneer in flexible workspace rentals and related SaaS technology.

• WeWork provides beautifully designed offices, lounges, meeting rooms, and desks members can subscribe to monthly – with on-demand access, community events, and great infrastructure/support.

• It also offers software for office space management, analytics, and optimization.

• WeWork currently serves over 800 shared workspace locations in 150+ cities globally.

Despite the pandemic, WeWork revenue stood strong at $2.57 billion in 2021 – proof the company has found product-market fit.

Up next – we enter an elite zone with the top two PropTech megastars worldwide!

#2: Airbnb – $5.99 Billion

Globally synonymous with vacation rentals, San Francisco-based Airbnb was founded in 2008 and has achieved meteoric growth since.

• Airbnb‘s apps and portals allow users to easily discover 5.6 million cozy, quirky home listings in 100,000+ destinations globally.

• Airbnb is now focused on expanding into longer-term rentals as well while continuing to excel in short stays.

• To date, Airbnb has served over 150 million guests. With recent launches supporting customization and split payments – the company is enlarging its target segment.

Despite the tourism slump during COVID, Airbnb generated a mighty $5.99 billion in 2021 revenue – proof of its brand equity and aggressive expansion into enterprise offerings and experiences.

Finally, we feature the largest PropTech company worldwide – leading digital transformation for the realty sector globally.

#1: Compass – $6.42 Billion

New York-headquartered Compass was founded in 2012 by Robert Reffkin and Ori Allon to empower real estate agents to grow their business by integrating technology.

• Compass has built an end-to-end platform covering CRM, marketing automation, client services, transactions, mortgages, and more – customized to supercharge agent productivity.

• The company also offers detailed data analytics helping agents spot promising listings, close optimal deals, while following up efficiently.

• Compass employs over 19,000 real estate agents operating across 175+ US regions currently.

With $1.6 billion in funding and the undisputed No. 1 spot by market share, Compass is accelerating innovation at scale – earning $6.42 billion yearly.

Powered by elite tech talent and engineering excellence, Compass sits firmly at the apex of digital disruption in real estate.

Recap: 13 Largest Global PropTech Companies

As evident, PropTech is no more an emerging movement.

Cutting-edge technologies already impact realty worth over $15 trillion yearly – across buying, selling, renting, financing, designing, building, and maintaining property.

While most innovation still focuses on areas like marketing, operations, and utilization – trailblazers are pushing boundaries across sustainability, robotics, IoT-led remote management and even blockchain.

As 5G and WiFi 6 amplify tech adoption drastically, experts forecast the total addressable PropTech market to reach a gargantuan $4 trillion+ by 2030.

Both incumbents and funded startups have massive white spaces for multi-billion dollar opportunities across niches. Real estate sits at the cusp of a technology revolution – and the leading PropTech companies above are gearing up to spearhead it.

I hope you enjoyed this detailed analysis of the major players modernizing global realty. Please share your feedback or queries – I‘d love to discuss technology, innovation, startups or anything this article inspires!

Up Next:

The 10 Largest Cloud Computing Companies In The World, And What They Do

The Largest Communications Companies In The World, And What They Do

The Largest Tech Companies in Washington