I know that I speak for every single Looper around the world when I say that I am excited beyond words to announce that DoorLoop has raised $20 million of Series A funding from Alpine Software Group (ASG). I’d say “cue the happy dances,” but they’ve been a recurring theme around the office all week!
This funding means a great deal for DoorLoop’s future, and I can’t wait to discuss it later in this post.
To our co-founders, families, colleagues, investors, and board of advisors who have all contributed their time, energy, and support to getting DoorLoop where it is today: this wouldn’t have been possible without you. Thank you for the countless days and nights you put into this company.
Most importantly, I have to take a moment to acknowledge our incomparable team of Loopers. From our very first hire (still with us today) to our last, I have been consistently blown away by the level of skill and determination that each and every person on our team brings to the table.
Our software and company are what they are because of your collaborative spirit, your groundbreaking minds, and your absolutely amazing sense of fun. You don’t just make DoorLoop the best property management software out there; you make DoorLoop an incredible place to work every single day, and you are all absolutely exceptional.
A Quick Walk Down Memory Lane
DoorLoop was founded in 2019 with a simple goal: to make property management easier for anyone that manages any type of unit. Like we always love saying, “if it has a door, you can manage it with DoorLoop.”
Accomplishing this goal relied on a few key factors:
- Ease of use. In order to make work easier, DoorLoop itself requires a minimal learning curve to master. Its intuitive interface, quick search, and one-click capabilities help landlords, property managers, and their teams save hundreds of hours’ worth of work each year.
- Powerful features. DoorLoop is an all-in-one platform that takes care of everything from advertising, screening, electronic signatures, rent collection, lease management, work orders, file storage, communication and announcements, full-scale accounting, and so much more.
- World-class support that’s available for any user on any plan. DoorLoop’s support team is friendly, knowledgeable, and prompt, as well as available in minutes via phone, chat, or email.
After raising $10 million in seed funding, we were able to focus on the two main objectives that would lay the foundation for DoorLoop’s success: developing the platform itself and developing our team. Since then, both the software and the team have received the highest ratings, reviews, and awards across numerous platforms, including Capterra, G2, SoftwareAdvice, Great Place to Work, and more.
What’s Next for DoorLoop?
I am thrilled to be joined on DoorLoop’s board of directors by Billy Maguy, a founding partner at ASG. Before ASG was founded in 2004, Billy was a management consultant who specialized in strategy and mergers & acquisitions, in addition to working in business development for a successful tech startup. We couldn’t be more thrilled to have his expertise as a resource to help drive DoorLoop’s plans forward.
Speaking of plans: with a total of $30 million in funding behind DoorLoop, we are able to continue setting our sights on creating the very best possible experience for our customers. This means expediting our product roadmap, expanding our development team, and bringing several exciting features to life.
This funding also enables us to expand the portfolio types supported by DoorLoop as well as growing to seamlessly support portfolios with hundreds of thousands of units.
We are hiring for over 13 roles and will continue expanding across all of our teams, bringing in more talented Loopers to join our family. With all that we have accomplished so far, it is beyond exciting to think about everything that more Loopers will make happen.
If you’re still reading this, thank you so much for the time you have invested in DoorLoop’s journey, whether you’ve been a part of the Looper family from the very beginning or are one of its newest members. We so look forward to continuing to do incredible work together and keeping DoorLoop at the forefront of property management technology.
Thank you so much, and stay updated for all the exciting things to come!
Co-Founder & CEO, DoorLoop
Official Press Release
Miami, FL (September 21, 2021) - DoorLoop, an award-winning rental property management software company, announced today that it has raised $20 million in Series A funding from Alpine Software Group (ASG), a portfolio company of Alpine Investors that buys and builds vertical SaaS companies. This funding, combined with DoorLoop’s $10 million in seed-stage funding, will be invested into development, marketing, and recruiting efforts in order to take the company to the next stage of growth.
DoorLoop’s co-founders, CEO Ori Tamuz and CMO David Bitton, are no strangers to ASG. They co-founded PracticePanther, a law practice management software, that was acquired by ASG in 2018.
“We are excited to work with ASG again. This funding will enable us to develop an even stronger and more expansive technology platform, broaden our marketing initiatives, and bring more members into our amazing team,” says Tamuz. “We look forward to not only escalating our growth, but adding innovative features for landlords and property managers.”
One of the fastest-growing proptech companies worldwide, DoorLoop has expanded to more than 50 employees in the past year, with 400% growth in revenue.
This growth, while notable, is only the beginning. ASG and DoorLoop are setting their sights on the future, and they’re confident about what it holds. ASG CEO Steve Reardon says, “DoorLoop has a proven team and playbook. We've worked with David and Ori for years and are thrilled to continue to be a part of their story, and we see a great future in the PropTech SaaS industry."
With several big goals and the funding to achieve them, DoorLoop’s team intends to continue delivering an exceptional product to users. With a total of $30 million raised, one of the company’s biggest priorities is to expedite its product roadmap with numerous new and exciting features.
At the same time, sights are set on expanding the portfolio types that DoorLoop supports, including HOAs, affordable housing, self-storage, and more, in addition to going upmarket and supporting larger portfolios.
“Backed by a world-class team, DoorLoop is running full speed ahead to accomplish its primary goal: to reach more landlords and property managers while still offering world-class support with a product that exceeds all of its users’ needs and more,” says Bitton.
To learn more about how DoorLoop can automatically collect rent, grow your business, and minimize wasted time, be sure to schedule a demo.
DoorLoop is the highest-rated property management software online. Landlords, property managers, and management companies in over 100 countries use DoorLoop to manage hundreds of thousands of units. The software automates everything from listing units, screening, rent collection, maintenance requests, moving out tenants, and everything in between. DoorLoop is fully customizable for any mixed-use portfolio, including residential, commercial, associations, and many more.
ASG is a unique and fast-growing software business that buys and builds market-leading vertical SaaS companies. ASG believes deeply in the power of people and data to grow great organizations, and that sharing knowledge, expertise, and resources across its community of businesses drives exponential growth. Founders of leading SaaS companies continue to trust ASG to grow their businesses and build even stronger legacies for the future.
About Alpine Investors
Alpine Investors is a people-driven private equity firm that is committed to building enduring companies by working with, learning from, and developing exceptional people. Alpine specializes in investments in middle-market companies in the software and services industries. Its PeopleFirst strategy includes a talent program which allows Alpine to bring proven leadership to situations where additional or new management is needed post-transaction. Alpine is currently investing out of its $2.25 billion eighth fund. For more information, visit https://www.alpineinvestors.com.
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