Richard Grossman joins Avenue 8 to lead East Coast expansion

That was fast. In less than two weeks, Richard Grossman, the recently departed New York City regional president for Brown Harris Stevens, has figured out his next act. The industry veteran is joining Avenue 8, a mobile-first brokerage based in San Francisco founded last year by agent Justin Fichelson and Michael Martin, a former managing partner at marketing and design agency Code and Theory. Grossman is Avenue 8’s first hire outside of California, where it

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Construction startup Built lands $1.5B valuation

Built, a Nashville-based fintech startup geared towards the construction industry, snagged a $1.5 billion valuation. The company more than tripled its valuation after the latest fundraising round, where it raised $125 million, according to Bloomberg. The outlet reported investors in the latest funding round include Brookfield Technology Partners, 9Yards Capital, XYZ Venture Capital and HighSage Ventures. TCV led the funding round. Woody Marshall, a general partner with the growth equity firm, is joining Built’s board.

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Homebuilder Plant Prefab raises $30M, eyes third factory

Prefabricated homebuilder Plant Prefab has raised $30 million in a Series B funding round and said it had opened a second factory and plans a third next year. The latest funding round for the Southern California-based firm again included Amazon Alexa Fund. Leading the round were Asahi Kasei Corporation — which owns one of Japan’s largest homebuilders — and Paris Ventures, the corporate venture capital program of Brazilian steel producer Gerdau. Plant Prefab CEO Steve

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Proptech startup Rentable secures $22M in Series B funding

Rentable, an online multifamily rental and property management platform, raised $22.5 million in Series B funding. Private equity and venture capital firm Susquehanna Growth Equity led the round, Rentable said. Other investors included 4490 Ventures and Flyover Capital, both of which had participated in the startup’s $5 million Series A round in 2016. The capital raise saw a “significant increase” in valuation relative to Rentable’s last round of financing, the startup said. It did not

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Watch: Can venture capital solve real estate’s wicked problems?

Billions of venture capital dollars have flowed into real estate to improve the experience of residents, office tenants and landlords themselves. But where’s the money for the really important stuff? The climate crisis, the national housing shortage and other wicked problems? “The largest challenge is that there’s no silver bullet,” said Casey Berman, co-founder of proptech-focused VC firm Camber Creek Partners. “You can’t say we’re going to decrease the cost of construction by 90 percent,

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Unicorn founders hold court on proptech’s resi revolution

Home is where the heart is. Often, for U.S. homeowners, it is also where the heartbreak is. The process of building, buying, selling, financing and insuring a home has for decades been fraught with red tape, misdirection and hidden fees. It’s only over the past few years that startups have gained the traction, funding and ability to take on this hidebound industry. Hundreds have failed, running out of money or time, but for the survivors,

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