Dottid, a commercial real estate (CRE) SaaS technology platform which provides a single location for owners, brokers, and tenants to transact throughout the leasing process, announced it has raised $3.85 million in a seed round of funding. The emerging technology company brought together a collaboration 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, marking the first time several leading local real estate industry insiders have made an investment of this kind in a PropTech company.
In 2016, Dottid Founder and CEO Kyle Waldrep turned down a job as a leasing agent after recognizing the antiquated nature of the CRE industry, with teams wasting time with administrative tasks that could be easily solved with the right technology.
“I am grateful for the support and investment we’ve received from some of the true titans of the real estate industry,” Waldrep said. “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.”