At the intersection of real estate and technology lives proptech, defined aptly by Forbes as “the underlying technology that real estate professionals, underwriters, developers, property managers, title companies, banks and others use to manage and improve real estate transactions from start to finish.”
That’s the aim of companies such as Zillow and Apartments.com, along with countless other businesses working to streamline the experience. In Canada alone, more than 500 new startups were founded in 2023, including Adaptis, Chexy and Doormat, raising $1.5 billion in new funding since.
Below are a few other companies to watch.
Proptech Companies in Toronto
- VTS
- Dream
- Zoocasa
- Willful
- FCT
Top Proptech Companies in Toronto
In 2023, VTS released its commercial leasing operations platform, VTS Lease. VTS claims it’s the largest first-party data source in the industry, delivering data insights and solutions for 45,000 users to fuel their investment and asset strategy, leasing and market automation, property operations and tenant experience. The company’s offices are spread across North America and Europe.
Dream is an asset manager, owner and developer of real estate with over $17 billion in assets under management among its four publicly listed entities, private funds and institutional partnerships. Additionally, Dream’s website shares its commitment to promoting health and well-being, while aiming to reduce inequalities through its dedication to affordable housing solutions. The company has offices in Toronto, Ottawa and Regina.
Based in Toronto, Zoocasa is a national brokerage that uses data and technology to make buying and selling a home easier and more efficient. Zoocasa was named one of America’s Fastest Growing Companies by the Financial Times, a Top Growing Company by the Globe and Mail, and one of Deloitte’s Tech Fast 50 companies in Canada.
Willful was founded to simplify end-of-life arrangements. Customers begin by entering their name, date of birth and beneficiaries, followed by details about their property. The company then generates the necessary documents and provides instructions for making them legally binding.
Headquartered in Oakville, just outside of Toronto, FCT provides title insurance and other real estate-related services to approximately 450 lenders, 43,000 legal professionals and 5,000 recovery professionals, as well as real estate agents, mortgage brokers and builders, nationwide. The company has been named a certified Great Place to Work and one of Canada’s Best Workplaces for 10 years in a row.
Altrio is a software company in the real estate sector that offers deal management tools. Its platform functions as a comprehensive dashboard for brokers and investors, cohering all things real estate deal related into a single hub. Altrio’s workflows are built upon the conviction that “automation accelerates deal velocity,” so deal processes are streamlined for speed and simplicity.
Avesdo Real Estate Software makes a transaction management software tool that is designed for new home sales. It includes tools for the full lifecycle of a sale, from sourcing and contacting leads to closing documents, with tasks like contracts and deposits automated for a speedier and lower-touch close.
Allied Properties REIT is a real estate investment trust, which is an entity that holds numerous properties across real estate sectors, each of which produces income. The collective earnings of all properties in a REIT are used as investment capital such that, ideally, the REIT fully sustains the properties. Allied Properties holds residential and office buildings across Canada, and financially functions similarly to other types of investment portfolios.
Texada Software makes SaaS products that manage business processes for heavy equipment companies in the real estate, construction and industrial sectors. As heavy equipment is needed during the process of preparing a property for building and real estate development, Texada’s software tools manage rental processes and documentation for cranes, earth movers and other heavy machines.
Real estate investment software provider Dealpath offers a platform for RE investors to monitor and manage the various facets of complex RE deals. On the platform, data is processed into actionable insights that can be applied to investment choices. Dealpath builds its tools to be broadly applicable to many real estate contexts, from multifamily homes to data centers.
