Building on strong 2020 growth and expansion to three markets, Madrona Venture Group backs the residential property management platform that targets small real estate investors.
Doorstead, a technology-operations company that specializes in full-service property management, announced that it has raised $12.5 million in Series A funding, led by Madrona Venture Group.
Doorstead was founded by Uber and Y Combinator veterans Ryan Waliany and Jennifer Bronzo in 2019 to create a new class of property management that applies AI and technology operations to simplify the lives of residential landlords.
Within 24 hours of request for a given property, Doorstead provides a guaranteed rental rate, occupancy date, and a year of cash flow for the owner, and on average landlords earn $2,300 more per year with Doorstead than with prior property managers.
Doorstead now manages more than 300 properties in the San Francisco Bay Area, its first market, and recently launched in Los Angeles and Orange County.
