Dallas-based Dottid, which offers a software-as-a-service technology platform for asset management and leasing transactions, has formed a partnership with Lincoln Property Company to drastically transform the services the international real estate firm is able to offer.
Dottid aims to disrupt the commercial real estate industry with its proptech platform that solves everyday problems for all parties in a leasing transaction and more.
The startup’s model will complement LPC’s expansive portfolio of value-added services to clients across the commercial and residential landscapes. Together, the two plan to “tremendously augment the possibilities of lease management workflow.”
LPC led Dottid’s latest $4.5 million funding round, which closed in December. With the new funding, Founder and CEO Kyle Waldrep and his team will bring all parties of a CRE transaction together with increased transparency, enhanced organization, and improved workflow management.
“After our first meeting with the Dottid team and getting an inside look at their platform, we knew they were approaching the market with something different than what already existed to serve Asset Managers & Leasing Teams,” said Vince Cicciarelli, vice president at LPC Ventures, said in a statement. “They’ve truly taken a user-centric approach to streamlining the leasing lifecycle by offering what is most important and cutting out the rest.”
That deal represented the first time in roughly four years that a large-scale firm had made a significant investment in this type of proptech company, Dottid says. The LPC partnership and integration will significantly bolster Dottid’s own services as it prepares to expand into new sectors in 2022.
“Simple, intuitive technology leading to greater collaboration and efficiency for owners, brokers, and teams continues to propel Dottid to new heights,” Waldrep wrote on LinkedIn.
Dottid’s mission is to be the operating platform for commercial real estate owners worldwide, Waldrep says. That starts by making the leasing and asset management process as simple and efficient as possible,” he said in a statement.
The investment accelerates Dottid’s national rollout that includes expansion into a number of LPC assets in Dallas and cities such as Los Angeles, Boston, and Washington D.C., the companies said in a release.
That expansion will also include owned and brokerage assets that will further strengthen LPC’s portfolio in the office, industrial and retail sectors, the company said.
Founder Waldrep, who launched Dottid in 2018, looks forward to new opportunities and growth as the startup joins LPC’s venture portfolio.
“LPC’s recognition of Dottid’s progress and incredible potential is an affirming and humbling step toward accomplishing our mission. LPC has been a leader in commercial real estate for decades, establishing itself as a seasoned venture investor and go-to owner, developer, and services provider.”
LPC calls the company’s tech a critical asset for the company’s asset management and leasing strategies.
The team “truly understands how to add value through the entire life cycle of a transaction, creating the necessary transparency and collaboration needed for all stakeholders involved,” said David Binswanger, senior executive vice president, LPC.
Dallas-Based Dottid Launches Industrial Property Leasing and Asset Management Platform
Dottid Industrial, an extension of the original Dottid offering, gives asset managers, property owners, and their leasing teams the visual tools, access, and process management to save time and costs that often come with an industrial transaction.
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