Richard Sarkis, CEO of FinTech Collective's portfolio company, Reonomy, participated on a panel of NYC based entrepreneurs disrupting the real-estate space. Although opinions differ with regards to the actual absorption of tech in the real-estate space, VCs and entrepreneurs on the panel believe that companies that are addressing real problems, and building better data-driven solutions, will succeed.
More than $1.4 billion is expected to be invested in real-estate-tech startups this year, according to a slide at the event using data from CB Insights. That is up from $1 billion last year and $438 million in 2013, the data firm said. Most of the venture-capital firms investing in real-estate tech are in the New York area. “It’s pretty easy to get a meeting if you are disrupting something in real estate,” said one of the panelists, Richard Sarkis, chief executive of Reonomy, a startup that analyses commercial real-estate data.