Meet the 4 PropTech Companies in the Forbes Cloud 100 List
Let's deep dive into the largest PropTech companies on the cloud
Forbes released their annual list of Top 100 Companies focussed Cloud based software. The marquee list is topped by payments giant Stripe at #1 spot followed by Databricks and Canva at #2 and #3 positions.
Every time I see such lists, my eyes and attention immediately go towards PropTech companies and this time was no different. We have 4 companies on the list this year that are focussed on building software for the real estate industry and here’s the list -
1. Service Titan
The company is at #8 on the Forbes list and is the highest ranked within the PropTech ecosystem. Their product allows home service providers (Including plumbers, carpenters, chimney service professionals, deep cleaners, etc.) to manage their work on the go with their app. Started in 2012, more than 100,000 professionals use their product and pay the company upwards of $250M in revenue every year by some estimates.
2. Yardi
At #50 on the list is Yardi Systems. Perhaps the most unsurprising name on the list, given the company was started over 35 years ago and is one of the industries most dominant players. Yardi builds software for managing real estate assets, including residential, commercial, retail and a slew of other assets. Given it’s a private company and has never raised external capital, getting financial details about Yardi are difficult, but industry estimates peg it’s revenue above $2B.
The company is lead by it’s iconic Founder and President, Anant Yardi.
3. Entrata
Following the heels of Yardi is it’s competitor Entrata which is at #86. The company, started in 2013, specializes in building software for the property management industry. Having bootstrapped the business for the first 18 years, the company came into the spotlight earlier this year when it raised $500M+ in capital in a round lead by Silver Lake partners. The company generates $200M+ in revenue a year and is growing around 30% YoY at the moment.
4. VTS
Closing out the PropTech list is Commercial Real Estate giant, VTS. The company, through it’s suite of software, allows CRE landlords and managers to market, lease and manage their portfolio. The company acquired Rise Buildings, a tenant experience platform, in Mar-2021 for $100M to strengthen it’s product offerings.
3 Interesting Takeaways -
Better than other industries:
With 4 companies in on the list, PropTech as an industry has one of the highest representation for any vertical (Most SaaS companies are horizontal). E-Commerce and FinTech are possible the only industries with greater representation on the listTakes longer to build PropTech:
Amount of time it takes to build a large PropTech business seems much longer vs building horizontal SaaS. The avg. age of a PropTech company on the list is ~ 16 yrs, while other companies are averaging about ~9 yrsAll companies being built from and for the US:
All 4 companies are being built from the US, and are primarily focussing on the US market as well. Given their success in the region, it feels like the right time to be building PropTech for other regions in the world
In all fairness, it’s super difficult to judge the top 100 SaaS companies across the world. The industry is exploding at a speed that’s never before seen and Forbes definitely missed a lot of my favourite companies (ProCore, Zoho and Veeva), but it does a good job of summarizing interesting companies to watch out for.
Which companies are you looking forward to seeing on this list soon? Hit reply and let me know - Always curious to hear more!