Doorstead, a property management service the protects homeowners who rent out their properties, has raised $21.5m in Series B funding.
Avanta Ventures, Madrona, MetaProp, and M13 participated in the round, which brings the company’s total funding to $37m.
Doorstead also acquired Knox Financial’s Massachusetts portfolio, which the company said will allow it to expand its services to homeowners and renters on the East Coast, US.
Founded in April 2019 by co-founders Ryan Waliany and Jennifer Bronzo, Doorstead provides uprfront rental guarantees and a property management service to homeowners that offers homeowners an upfront vacancy period and a guaranteed minimum monthly rent before a tenant is placed.
Waliany and Bronzo founded the company after experiencing the property management industry’s operational shortcomings firsthand and decided to build a new property management system with a rental guarantee.
Doorstead’s services also include getting a property rent-ready, to conducting showings and screening tenants, inspecting the property, taking care of maintenance requests, and more.
Additionally, as part of this round, Steve Bernardez, partner at Avanta Ventures, will join Doorstead’s board of directors.
This Series B round follows a $3.3m seed round in 2019 led by Santa Monica-based M13. Doorstead then went on to raise a $12.5m Series A round led by Seattle firm Madrona Venture Group.
Zach Aarons, co-founder and general partner of MetaProp, said, “Doorstead is one of the most data-driven companies we have seen within our industry. We like how the company is improving existing property management business models through operational efficiency and best-in-class software.
“Because of Doorstead’s focus on market-by-market rental data, the company is able to offer an upfront rental guarantee to landlords, redefining the old paradigm.”
In August last year, Guesty, a property management platform for the short-term rental and hospitality industry, raised $170m in a Series E funding round.
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