Property technology firm DoorLoop is hiring after securing an additional $20 million from investors.
The startup's series A financing round was led by Alpine Software Group, a company that buys and builds software-as-a-service ventures. In 2018, ASG acquired PracticePanther, a law practice management software startup launched by DoorLoop co-founders Ori Tamuz and David Bitton.
DoorLoop CEO Tamuz said the funding will "enable us to develop an even stronger and more expansive technology platform, broaden our marketing initiatives, and bring more members into our amazing team."
DoorLoop automates the management process – including unit listings, rent collection and maintenance requests – for landlords, property managers and management companies. The company claims it is a faster and cheaper alternative to larger competitors that offer rental property management software.
Founded in 2019, DoorLoop now manages thousands of properties in more than 100 countries, according to its website. It has raised a total of $30 million from investors, including a $10 million seed round led by the company's six co-founders in 2021.
The recent capital injection will fund DoorLoop's marketing and recruitment efforts, according to a news release. Tamuz said the company plans to add additional features for landlords and property managers as well, one of its main priorities as it scales.
DoorLoop, which has 50 employees, aims to hit 100 by the end of the year, a representative told Miami Inno. The startup is based at 560 Lincoln Road on Miami Beach.
A variety of property technology ventures have either launched or expanded their services to South Florida in the past year. Some, like DoorLoop and new transplant Belong, are focused on streamlining property management services for landlords. Others, such as rent-to-own platform Divvy, claim they can create a path to homeownership for consumers.
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