A lot of exciting things have happened this year,” William Sankey told Commercial Observer about his own company, Northspyre. 

The observation, though, could apply to just about every entry on this 2025 Power Proptech list, our look at the most influential companies in the property technology sector. 

Last year, we noted that the entire sector seemed to have hit Ctrl-Alt-Delete. Companies went out of business. Venture capital funding plateaued. Some began talking of a “proptech winter.”

If so, the thaw began in earnest in 2025. Part of this is the result of that attrition — fewer firms and products mean less competition. Part of it, too, is a bounceback in tech-using sectors such as retail and office (and the rise of data centers). 

Part of it is due to a rebound in VC funding. Global proptech firms raised $11.5 billion in the first nine months of 2025, besting last year’s aggregate of $9.9 billion and even overtaking the $11 billion raised in a much sunnier 2023, according to the Center for Real Estate Technology and Innovation (CRETI). 

And part of the proptech comeback this year is due to … wait for it … artificial intelligence. 

“The first is that everybody kind of recognizes that AI is potentially a game-changer,” said JLL Spark’s Raj Singh. 

Per fellow honoree Mike Sroka of Dealpath: “I think that the amount of innovation and enthusiasm for AI capabilities is a catalyst for digital transformation and change management.”

You bet it is. Nearly every honoree this year name-dropped the technology of the age. Firms are using AI to either streamline their own operations or to pitch fresh efficiencies to CRE clients. Or firms are using AI by itself to develop new suites of tech. That streamlining and that development often equals financial and geographic gains.

Or, as Cherre’s L.D. Salmanson put it succinctly: “The biggest reason for our growth has been the adoption of AI.” 

The influence of AI is reflected in the VC funding. The share of 2025 investment directed toward AI-focused firms grew from about 20 percent last year to at least 30 percent in 2025, per CRETI. 

AI won’t solve everything (“It isn’t magic,” as Singh also said). But advancements in artificial intelligence came along just in time to help make for, yes, an “exciting” year in proptech. These are the top players who generated the excitement. —Tom Acitelli

This package was edited by Tom Acitelli and Max Gross. It was written by Acitelli, Gross, Andrew Coen, Gregory Cornfield, Cathy Cunningham, Isabelle Durso, Julia Echikson, Mark Hallum, Brian Pascus, Philip Russo, Amanda Schiavo and Nick Trombola. Skip Card copy edited it. Jeff Cuyubamba designed the package. Jim Sewastynowicz organized the photography.