Late-stage proptech startups that already have burned through the Series A capital they raised will need to make it last for another 12-18 months because the tide of venture capital that has funded startups for the past five years now is being shut off.
Proptech valuations are plunging as VC capital is heading to the sidelines in a volatile market, several proptech players told us at CREtech 2022 in NYC last week.
"There's a massive amount of capital that's sitting on the sidelines, waiting to have some of the variables in the marketplace sort themselves out," Kevin Danehy, vice chair, global head of corporate development at Willow, told GlobeSt.com.
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