DoorLoop raises $10m in seed round

US: Property management software company DoorLoop has announced that it has raised $10 million in seed funding led by its founders and private investors.

The funding comes hot on the heels of the company’s recent growth and will be used for further investment in its technology platform, recruiting efforts and marketing initiatives.

As a rapidly-growing proptech company, DoorLoop aims to help its clients manage tens of thousands of units in over 100 countries worldwide. With nearly 40 employees and growing, DoorLoop’s team consists of six co-founders and a council of advisors with over 100+ years of combined real estate and SaaS [software-as-a-service] experience.

Landlords, property managers, and management companies use DoorLoop to automate everything from listing units, screening, rent collection, maintenance requests, moving out tenants, and everything in between. In that way, property managers can work remotely, scale with ease, maintain more efficient operations and collect more rent.

Matt Cave, co-founder and director of customer success, said: “Landlords and property managers are rapidly switching to DoorLoop for its ease of use and customer service. It is the only all-in-one platform with full accounting, a QuickBooks online integration, and soon an open API to sync with thousands of apps for unlimited customisation and possibilities.”

To expedite the company’s growth, DoorLoop says it is offering 50 per cent off its software for the rest of the year, including a 30-day money-back guarantee. Additionally, the company will be donating one per cent of all profits in 2021 to charities including the Ronald McDonald House Charity.

DoorLoop co-founder and CEO, Ori Tamuz, said: “Prior to DoorLoop, there wasn’t an easy and affordable software platform available to manage our own rentals, collect rent, and grow our portfolios. The software we tried was complicated and expensive, and offered very little transparency.

“Additionally, many of the platforms were built over 15 years ago with old technology and design, so we knew we could do it better, and that’s exactly what we did,” he added.

Tamuz was the co-founder of Nova Point of Sale and PracticePanther, two SaaS companies that were both acquired and continue to be market leaders. Three out of the five DoorLoop co-founders have worked together for the last ten years.

DoorLoop is fully customisable for mixed-use portfolios, including residential, commercial and associations.