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Dallas’ Proptech Scene Is Coming for Austin - and Maybe Everywhere Else

Since 2020, 17 proptech-related companies have made their headquarters in Dallas, according to Ashkán Zandieh, managing partner and industry chair at the Center for Real Estate Technology and Innovation, which itself moved from New York City to Dallas during the pandemic. “Since then, $2.3 billion has been invested in equity rounds in proptech companies, with $450 million invested in Dallas-Fort Worth-based proptech companies, and $860 million invested in Austin-based proptech companies,” said Zandieh.

A longtime Texan, Matthew DeSarno, a former FBI special agent and head of the FBI’s Dallas office, is CEO at Verfico Technology, a Dallas-based wage assurance company focused on the construction industry.

“Last year $50 billion in wages were stolen from American workers,” said DeSarno. “Verfico prevents wage theft and levels the playing field by shining a light on fraud, theft and cheating in labor markets. It’s like insurance for the uninsurable risk of wage theft. We verify that the last-mile delivery of the dollar you’re investing in your projects makes it to the workers who build your success.”

Founded in November 2022, Verfico has been selling to general contractors and subcontractors since 2023, gaining traction in the market, said DeSarno. “It’s a spectacular place to start a business because it’s growing like crazy. There’s a lot of money here. The technology hub of Texas has always been Austin, but Dallas has grown so much. Real estate is a major industry here and there have been lots of good proptech companies born out of here. We’re kind of bootstrapped a little bit, but there are plenty of venture opportunities that are local. It’s not just New York and San Francisco for that.”

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