Doorstead Raises $3.3 Million to Create the Opendoor for Rentals
Doorstead, an operations technology company, has raised $3.3 million in funding, according to an October 8 press release.
The company has pioneered a new class of property management called “iRenting,” a model that provides landlords with a guaranteed rental income, regardless of occupancy, with rental offers within hours.
Doorstead was co-founded by Ryan Waliany and Jennifer Bronzo. Waliany was previously a technology-operations expert at Uber. Bronzo is a tech entrepreneur who grew up managing properties for her family’s construction company. The founding team are all alumni of UC Berkeley and have built technology-operations products at Uber, engineered scalable systems at Doordash and Dropbox, and built forecasting models at Goldman Sachs.
The company uses modern data science to model risk alongside operations technology that enables consistent high-quality service at scale.
“Today, we are seeing the emergence of operations-technology companies like Uber, DoorDash and Opendoor with both operations and technology crafted into their DNA. At Doorstead, we believe that software cannot exist without the human component, and the operations cannot exist without software orchestrating the process,” said Doorstead CEO Waliany.
Doorstead has met 100% of its guarantees, reduced vacancies by as much as 76% and helped owners earn up to 9% more in annual rental income, according to the release. Doorstead currently serves the San Francisco Bay Area. The company plans to expand into Sacramento and Los Angeles.
The seed round was co-led by global investment firms M13 and Silicon Valley Data Capital with participation from the Venture Reality Fund and SOMA Capital.
