DALLAS, May 19, 2021 /PRNewswire/ — Dottid, the commercial real estate (CRE) SaaS technology platform for asset management and leasing transactions, announced it has raised over $4.5 million in latest round of capital funding. The platform has now been implemented in tens of millions of square feet of office and industrial properties nationwide.
The successful capital fund raise was led internally and is highlighted by key contributions from Matthew Morris, the former CEO of Stewart Title; Steven Bean, the Founding Partner at SitusAMC; and Kevin McManus, the former Head of North America Services for SAP. Some of these strategic partners are Dottid customers as well as leaders in the office and industrial sector.
The additional funding will allow Dottid to continue its mission to provide a single location for office, retail and industrial property owners, brokers and tenants. The platform provides a unique space to come together in an easy-to-manage environment, rich with visual tools to track every square foot and transaction from vacancy to offering, tour to deal signing, and build-out to move-in.
“We are incredibly excited to announce the completion of Dottid’s latest funding round,” said Dottid CEO and Founder Kyle Waldrep. “We are proud of our team’s remarkable work and are confident Dottid will continue to grow and attract new clients and investors. Within the first year of launching our intuitive technology, the platform has been adopted in tens of millions of square feet of commercial properties and some of the largest industrial and office owners in the country. This is just the beginning as we continue to expand product offerings, the Dottid way – simple, smart, and effective.”
Dottid was introduced in January of 2020, with a unique, custom platform that was developed based on four years of input from CRE leasing and asset management professionals to offer an exceptional user experience and design simplicity. It is the first and only platform to track every moment of a leasing transaction – from managing inventory of space through offering, negotiation, tenant improvements, and occupancy. Dottid Industrial, a custom extension of the original Dottid offering, was introduced in 2021 and designed with new feature sets to bring all parties together and drive business value for a high performing and often tech underserved asset class.
“Velocis brought its entire portfolio on to Dottid’s platform this Spring because we wanted to enhance our asset management capabilities while giving our entire team, including third party service providers, full visibility into the deal cycle,” added Travis Gallivan, VP of Asset Management, Velocis. “One of my favorite Dottid features is that it tracks deals not only through lease signing, but all the way to the day you start receiving revenue including the build out phase. Having all of this data at your finger tips allows us to have intimate, real time knowledge of our properties and helps us to manage assets more efficiently. In addition to the product itself, the Dottid team has been extremely responsive, and it is clear they are focused on improving their product daily through a collaborative process with their customers. This is unique and really what sets Dottid apart.”
“Customers are clearly seeing the technology at work and confirm the immediate benefits of a platform built specifically to facilitate deal-making, track all details both pre-lease and post-lease, and provide needed transparency and vertical integration for real estate teams,” added Waldrep. “We see this growth momentum continuing through 2021 and beyond as we focus on listening to customers, work with strategic partners, and solve everyday problems for owners, asset managers, brokers, and all parties pertinent to a transaction.”
About Dottid: Founded in 2018 and headquartered in Dallas, Texas, Dottid provides a digital process management solution that drives commercial real estate leasing transactions designed by and for CRE professionals. Dottid aims to revolutionize the CRE industry through the use of technology and streamlining the leasing transaction process, allowing owners, brokers, and tenants to close more deals faster and with lower costs, ultimately creating a better customer experience for the tenant.
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SOURCE Dottid
