The technology platform is the first of its kind to offer efficiencies and savings in both time and costs to all parties in a commercial real estate transaction
Commercial real estate platform Dottid has raised $3.85 million in a seed round of funding from a host of investors, including: David Ridley, founder and former CEO of Invesco Real Estate; Laurie Dotter, current investment board member for two public Texas pension funds; and David Farmer, former COO of Invesco Real Estate. This marks the first time several leading local real estate industry insiders have made an investment of this kind in a PropTech company.
“I am grateful for the support and investment we’ve received from some of the true titans of the real estate industry,” said Dottid CEO Kyle Waldrep. “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.”
Dottid’s goal is to revolutionize the commercial real estate industry by streamlining the leasing process. Dottid is a commercial real estate SaaS (software as a service) platform that provides a single location where owners, brokers, and tenants can engage seamlessly throughout the transaction. This results in more deals that are closed faster and with lower costs, and a better experience for all involved—most notably, the tenant.
Waldrep founded Dottid in 2018. Two years prior he had turned down a job as a leasing agent in part due to the “antiquated” nature of the commercial industry. Many leasing agents spend a lot of time on administrative tasks that Waldrep thought could be easily solved with the right technology. When he realized that technology didn’t exist, he sought to create it.
“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 an industry, so tied up in valuable capital, now has a real solution for these challenges.”
Dottid is headquartered in Dallas Texas, the second-largest commercial real estate investment market in the country. Their team consists of real estate and technology experts, including the recent hire of Chief Technology Officer Senecca Miller, who is a former senior dev ops engineer from Toyota Connected. They’ve also recently completed a pilot program with a major Texas developer and property owner.
“What sets us apart from any other PropTech company in this space is the volume of industry expertise and user feedback that has been tested and built into the platform,” said Laurie Dotter, Dottid investor and advisor. “The user experience and design simplicity is unlike any other, and we know the platform will be an effective tool for lease revenue generation.”
Dottid has also built a team of advisors such as Jonathan Crowder, Partner at Intelis Capital; Don Goldstein, former CIO and CISO of CBRE; Brian Liikala, former Portfolio Manager for the State of Michigan Retirement Systems; and Catherine Rodewald, former President of Prudential Asset Resources Inc., who have contributed their years of industry insights and expertise to ensure that the Dottid platform is a solution for every constituent involved within leasing transactions.
