As the commercial real estate industry continues to evolve, Dallas-based Dottid wants to revolutionize the way asset managers and brokers operate in the $2.3 trillion sector.
Dottid, a fast-growing proptech startup, has officially released its all-in-one workflow platform, Asset OS. The company’s proprietary technology consolidates multiple platforms into one “intuitive interface” for commercial real estate firms, the company said in a news release. Dottid says the platform integrates workflow and data into one place to make asset operations more efficient and help teams via modern tools. The company says that can save CRE firms both time and money—and allow asset managers to find new opportunities.
With nearly 15.1 million jobs at stake and the industry contributing the aforementioned $2.3 trillion to the U.S. GDP, Dottid sees companies in the commercial real estate sector are increasingly adopting cost-effective strategies and optimizing their processes through technology.
Innovation and tech seen as critical components
According to Dottid Founder and CEO Kyle Waldrep, innovation and technology are critical components for CRE firms looking to stay ahead and thrive in the current market conditions. “Due to multiple modern variables including the increasing popularity of remote work, the CRE industry has been impacted by high vacancy rates across the country, with 54.2% of the 1.07 billion square feet of office space currently open for lease,” the company said, citing CoStar stats.
“Dottid is at the forefront of the CRE technology revolution,” Waldrep said in a statement. “With Asset OS, asset managers are provided for the very first time with oversight, data transparency, and detailed insights that help them maximize their resources and improve decision-making to grow revenues in any market.”
How it works
Asset OS features an API Connector that allows third-party tools to integrate with Dottid and help asset managers keep all their data in one place. Features include a Deals function that lets all team members stay on top of deal changes and processes. Per the company, users can set approvals, assign tasks, communicate deadlines, and track relevant financial negotiations with all files and collateral at their fingertips. Other features include capital projects, dynamic projections, property debt, and more.
Chief Operating Officer and CTO Senecca Miller told Dallas Innovates Dottid’s “next evolution” platform is focused on workflow, data ownership, and integration with third-party tools.
Miller sees Dottid bringing significant change to the commercial real estate industry through its platform and partnerships. And, he says, it’s committed to its customers. “We’re looking to foster community through collaboration, so I think one of the things we would like to share is that we view transformation through the lenses of cooperation,” he said.
Dogwood Commercial, a young company competing in the “fast-paced Dallas market,” turned to Dottid to help build a more efficient workflow tracking process. Joe Zylka, director of operations at the firm, said the platform “allowed us to organize everything in one place, with overall visibility and accountability, and as a result, we were able to perform more efficiently.”
The results have been significant, according to Zylka, with Dogwood Commercial able to grow their portfolio by 2.5x in only 18 months while still continuing their high level of service without the need for additional personnel.
Dottid has been on a roll from its inception. Since its founding in 2018 by CEO Waldrep, a former commercial real estate asset manager, Dottid has raised more than $20 million in funding and secured a strategic partnership with Lincoln Property Company, a renowned name in the commercial real estate sector. The company has experienced accelerated growth, expanding its team to 40 employees and garnering award recognition as a “Great Place To Work.”
The company’s team includes executives with extensive experience in the real estate and technology sectors, along with software developers, data scientists, and other industry experts who work together to transform the commercial real estate industry through technology.
Dottid has recently made key executive appointments, including Andrew Mezheritskiy, head of customer success, who was previously with JLL and Alkami Technology, and Matt Newville, head of sales, previously with CoStar Group and Transwestern.
Dottid’s advisory board includes experienced professionals from the commercial real estate industry such as Steven L. Bean, SitusAMC; Matthew W. Morris, Stewart Information Services Corporation; Kevin McManus, Method360; Catherine Rodewald, Prudential, Mortgage Assets; David Ridley and David Farmer, Invesco RE; Laurie Dotter, Employee Retirement System of Texas; Don Goldstein, CBRE; Jonathan Crowder, Intelis Capital; and Brian Liikala, State of Michigan Retirement Systems.
The story was updated on April 24, 2023, to include a corrected list of Dottid advisory board members.
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