Dottid Raises $3.85M in Seed Funding; Plans Product Development and Expansion

Dottid, which was founded in 2016 by CEO Kyle Waldrep, plans to use the funding for product development and expansion, besides focusing on gathering as much feedback as possible to further improve its platform.

Fremont, CA: Dottid, a commercial real estate software-as-a-service (SaaS) technology platform, has raised $3.85 million in seed funding. The Dallas-based startup pioneers in providing a single platform for owners, brokers, and tenants to seamlessly transact throughout the leasing process.

Dottid plans to use the newly raised fund for product development and expansion, besides focusing on gathering as much feedback as possible to further improve its platform. The chief investors in the seed funding were David Ridley, the founder and former CEO of Invesco Real Estate; David Farmer, a former COO of Invesco Real Estate; and Laurie Dotter, a current investment board member for two public Texas pension funds.

Dottid was founded in 2016 by CEO Kyle Waldrep with the aim to transform commercial real estate by optimizing the leasing transaction process. The startup helps brokers, owners, and tenants to close deals faster with lower costs, thereby saving millions in lost revenue and valuable time and ultimately creating a better customer experience for the tenants.

"I am grateful for the support and investment we've received from some of the true titans of the real estate industry," Waldrep said. "For the type of caliber and expertise of the investors and advisors we've attracted to validate our vision and help us build the future of the CRE industry, I know we are on the cusp of real transformation."

The team of advisers that Dottid built includes Jonathan Crowder, Partner at Intelis Capital; Brian Liikala, former Portfolio Manager for the State of Michigan Retirement Systems; Don Goldstein, former CIO and CISO of CBRE; and Catherine Rodewald, former President of Prudential Asset Resources Inc., who have put in their years of industry insights and expertise to ensure that the Dottid platform serves as a solution for every element involved within leasing transactions.

"The CRE industry is valued at $1.5 trillion in the United States alone, and Dottid is the answer to what real estate owners have needed for many years. The transactional nature of the business can be inefficient and completely disconnected, costing owners millions in lost revenue and time," says Don Goldstein, Dottid Advisory Board Chairman, and former CIO and CISO for CBRE. "It is exciting that industry, so tied up in valuable capital, now has a real solution for these challenges."

See Also: Realestate Business Review

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