Dallas-based Door is on a growth spurt.
The real estate startup, which charges homeowners a flat rate of $5,000 rather than the standard 6 percent commission fee collected by other brokers, recently closed a $2.3 million funding round, according to D CEO.
The Series A round wrapping up March 3 was led by Robert Smith, owner of Dallas-based Sold Out Sports. Real estate developer Phillip Huffines and Blair Baker, managing partner at Dallas-based Precept Capital Management, also contributed investments.
The startup plans to use the funding to add more agents, increase its public profile through marketing efforts, and update its software with new features.
CEO Alex Doubet told D CEO, he expects Door to have a run rate of $1 million to $2 million in 2017.
“When you look at industries disrupted by tech, it takes about five to 10 years [to take effect],” Doubet told the magazine. “Old-fashioned agents have their collective heads in the sand. They don’t think [disruption] is going to happen, but no one likes paying high fees.”
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