DoorLoop secures $100 million to transform the property management game

By Riley Kaminer

David Bitton remembers when JMI Equity first reached out to him back in 2017. At the time, they were interested in investing in, or even acquiring, his previous company, PracticePanther. Now, years later, JMI Equity has placed a $100 million bet on DoorLoop, the property management software company Bitton co-founded, as part of its Series B funding round. The company raised a $20M Series A in 2022.

With a product that streamlines property management for everyone from individual landlords to large commercial property management companies, DoorLoop has captured the attention of the market. And now, they’re ready to go even bigger.

“The main reason for this funding is to grow our product development team and add more features to the platform,” Bitton told Refresh Miami. “We’ve been hitting 100% year-over-year growth, and we’re seeing more and more customers – especially larger ones. This funding will allow us to support them even better.”

Bitton and his team have been refining their approach since day one, offering a comprehensive solution that caters to both residential and commercial property portfolios. They’ve been careful to balance user-friendliness with robust functionality. “It’s about making the experience better for everyone: whether you’re a property owner, investor, or tenant,” Bitton said.

While DoorLoop has always operated on a national level since its inception, its roots are firmly planted in Miami, where the company’s headquarters are located. Of their 150+ full-time employees (AKA “Loopers”), 100 are based in the Miami office [pictured above], with an additional 60 in Israel focused on research and development. The team is set to triple in size over the next five years, with plans to expand heavily into product and R&D, according to Bitton.

“We’ve already made 10 new hires in the last 30 days alone, and we’re just getting started,” he said. “Our goal is to have over 400 employees within the next five years.” These hires will be crucial in helping the company accelerate its product roadmap and deliver new features faster to meet the growing demands of their expanding customer base.

“Our team immediately recognized DoorLoop’s unique growth potential, intuitive software‬ products and above and beyond customer service,” David Greenberg, a partner at JMI‬ ‭Equity, said in a statement. “DoorLoop is a clear leader in the industry, and we are excited to partner with their talented team as they pioneer new property management technology that supports their growing customer base.” ‭

“We are confident that, with JMI’s resources, DoorLoop will continue to‬ ‭set the standard within the industry and achieve remarkable growth while staying true to what‬ ‭ matters most: setting our customers up for success,” commented Ori Tamuz, DoorLoop co-founder and CEO.

Bitton echoed Tamuz’s sentiment: “We’re focused on helping our customers grow and succeed, and that goes hand-in-hand with helping our employees grow personally, professionally, and financially.”

“We’ve won over 100 industry awards, and we’re not slowing down. People are happy with our software because we’re constantly automating as much as possible to make their jobs easier,” Bitton added. “It’s exciting to grow alongside our customers, and we’re just getting started.”

DoorLoop’s co-founders: David Bitton; Matt Cave; Itay Gardi; CEO Ori Tamuz; Adam Mait.

Photo at top of post: DoorLoop’s Miami team.

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Riley Kaminer