PropTech Firm DoorLoop Raises $20M from Alpine Software Group
ASG’s Steve Reardon, DoorLoop’s Ori Tamuz and David Bitton (ASG, DoorLoop)
DoorLoop, a Miami-based rental property management software startup, raised $20 million from Alpine Software Group, a Silicon Valley investment firm.
The Series A round adds to $10 million that the proptech firm, led by founders Ori Tamuz, CEO, and CMO David Bitton, raised last year. Tamuz and Bitton founded DoorLoop in 2019 and rolled it out to clients last year. The software allows landlords and property managers to automate services, including listings, tenant screenings, maintenance requests, rent collection and more.
Bitton said the company recently launched its API integration, which means it can work with other software, like Salesforce and Mailchimp.
Bitton said DoorLoop will use the Series A money to double its employee count from about 50 to 100 in the next year, as well as invest in marketing and in the software, and expand internationally. It has a development office in Tel Aviv. The company plans to “quadruple” its development team and add features for landlords and property managers.
Alpine Software Group is part of the Alpine Investors umbrella. San Francisco-based Alpine Investors is a multibillion-dollar private equity firm led by founder and CEO Graham Weaver.
ASG invests in vertical SaaS (software as a service) companies. In 2018, it acquired one of Tamuz and Bitton’s former companies, the practice management software startup PracticePanther, which ASG merged with Bill4Time into ASG LegalTech.
Bitton said DoorLoop caters to small to mid-market landlords and property managers with up to 1,000 rental units under management, and that it is looking to expand into homeowners associations, student housing, self storage and affordable housing.
A number of tech firms and startups have expanded to Miami over the past two years. Bitton, a South Florida native and University of Miami graduate, said the firm is open to remote hiring.
