Proptech

Why Cooley

The real estate industry is undergoing a digital transformation, and Cooley is guiding clients – big and small – through this unprecedented time of change. This transformation has led to the emergence of the real estate technology industry, nicknamed the “proptech” industry, which encompasses a wide array of matters from data center developments to the implementation of disruptive technology in established real estate and construction markets.

Cooley lawyers have been representing clients in the proptech industry from the beginning of this transformation, with the emergence of data centers and technology-enabled services. For 40+ years, Cooley has focused almost exclusively on the representation of innovative technology companies. We are widely recognized as one of the premier firms counseling public and private high-growth companies. From upstarts armed with little more than a disruptive business model to established multibillion-dollar public companies, we guide clients through uncharted waters and the most complex and unique legal and business issues.

Cooley’s proptech practice is broad and can provide counseling to clients from emerging proptech companies to established real estate companies implementing new technologies. Technology and real estate increasingly go hand in hand – from smart cities, IoT devices, artificial intelligence and cryptocurrencies, alternative financing and investment strategies to tech-based transaction platforms – and our lawyers are adept at working across corporate and specialty practice areas to best support clients. Cooley’s longstanding expertise in the industry means we can service clients no matter where they stand in this time of digital transformation.

Representative Matters

• b8ta, a Retail as a Service (RaaS) and software platform provider, on its Series B financing
• Hipcamp on its $9.5 million Series A financing
• Homesnap, a developer of a mobile real estate search platform, on its $14 million Series B financing
• Opendoor, an online real estate marketplace, on multiple financings, including its $325 million Series E financing, general corporate matters and mergers and acquisitions
• Procore Technologies, a construction management software provider, on its acquisition of Honest Buildings, a leading provider of project management software for owners and developers
• Redfin on its $159 million IPO
• Remine, a real estate data and analytics company, on its $30 million Series A financing
• SoftBank Vision Fund on multiple investments in Compass, a real estate technology company with a powerful end-to-end platform that supports the entire buying and selling workflow, including its participation in Compass’ $370 million Series G financing
• Represented co-living companies in developing legal framework to pursue alternative business model for room-by-room rentals
• Represented company providing smart “cubbies” and other methods to create efficiencies in app-based ordering for take-out food or beverage from restaurants
• Represented various companies providing novel app- or website-based platforms for commercial and residential real estate transactions or brokerages