Troubled Proptech Firms Highlight Necessity of Due Diligence

Just last week, the proptech company Veev, which was supposed to help make residential construction efficient and affordable was purchased for a tiny fraction of its one-time billion dollar unicorn valuation. The 15-year-old company is now an R&D center in Israel owned by Lennar.

Whenever tech companies focused on a given industry start dropping away quickly and completely, it’s time for businesses in the served industry to reexamine and rethink the relationships they have with vendors. Because you never know which ones will remain and which will close down, possibly with your money or, probably worse, with your data.