Doorstead raises $21.5 million
Property management startup Doorstead has raised $21.5 million in a Series B round led by CSAA’s venture arm Avanta Ventures, with participation from MetaProp, M13, and Madrona.
Founded in 2019, Doorstead claims to be the largest provider of upfront rental guarantees and the only property management service that provides homeowners with an upfront vacancy period and a guaranteed minimum monthly rent before a tenant is placed. The startup provides full-service property management, from getting a property rent-ready to conducting showings and screening tenants, inspecting the property, taking care of maintenance requests, and more.
In conjunction with the raise, Doorstead is acquiring the Massachusetts portfolio of Knox Financial, a startup looking to simplify the process of owning an investment property.
“Avanta looks forward to supporting Doorstead’s growth as they add new products and services for real estate investors with more than $3.7 trillion in rental assets, I’m excited to work with them as a board member to further their mission to reimagine property management and significantly reduce the complexity and risk of owning rental properties.” – Steve Bernardez, partner at Avanta.
“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.“ – Zach Aarons, co-founder and general partner of MetaProp.