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PropTech Startup Investment Checklist: Series B Stage (2026)

This checklist covers 20 due diligence items for PropTech startups at the Series B stage. Each item has been validated against institutional investor practice. DDR automates the majority of these checks from a single pitch deck PDF upload.

20 checklist items · 2 red flags automatically detected · See a sample DDR report

Series B Requirements

✓ $3M–$15M ARR with >100% YoY growth
✓ Proven sales motion: full quota-carrying team with attainment data
✓ Expansion into new segments or geographies underway
✓ Net Revenue Retention consistently above 110%
✓ Gross margin expansion visible in historical data
✓ Clear path to profitability or capital efficiency

PropTech Sector

✓ Brokerage licenses verified in all operating states
✓ Interest rate sensitivity analysis documented
✓ Data licensing agreements for MLS and public records reviewed
✓ Fair housing compliance policy reviewed

Deep Dive

✓ Real estate brokerage licensing in operating states
✓ Interest rate sensitivity analysis on revenue model
✓ Real estate data licensing agreements
✓ MLS access agreements and compliance

Regulatory

✓ Verify: State real estate brokerage licensing across 50 states
✓ Verify: Fair housing laws: algorithmic pricing and tenant screening discrimination risk
✓ Verify: MLS (Multiple Listing Service) access rules and arbitration

OSINT Signals

✓ Check: State real estate commission license lookup
✓ Check: MLS membership status
✓ Check: Google Reviews for property management products
DDR AUTOMATES THIS CHECKLIST

Upload a PropTech startup pitch deck and DDR automatically completes 14+ of these 20 checklist items — sourcing data from 13 OSINT signals, benchmarking against 2 comparable companies, and detecting all 2 critical red flags.

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