The current built ecosystem technology landscape is the product of two decades of tumultuous change, spanning the construction, operational management, and occupation of built spaces (i.e. software tailored to organizations in hospitality, restaurant, brick and mortar retail, and other sectors heavily dependent on physical locations). Technology functionality and innovation across the spectrum of the built landscape has been catalyzed by the COVID-19 pandemic and the current labor macro, and inflation crises. Key constituents have accelerated their adoption of critical solutions leading to accelerated company growth and more strategics and private equity attention on the space. As such, the ecosystem has witnessed a massive increase in deployed capital, volume of M&A deals closed, and number of new companies founded over the past 5 years as owners and investors alike look to tap into this significant opportunity. AGC is amongst the most active advisors in the built ecosystem and has been a thought leader on the space, publishing regular research on market trends and M&A activity.