Participated · Equity · Jun 2020

Doorkee operates a peer-to-peer digital marketplace that brings the rental process online, enabling landlords, departing tenants and apartment seekers to transact with virtual tours and integrated leasing workflows. The platform integrates with existing leasing systems, eliminates broker fees, reduces in-house leasing costs and shortens vacancy time. Departing tenants on Doorkee are incentivized to notify landlords (as early as 100 days) and currently provide notice an average of 71 days, earning about $1,000 on average for coordinating virtual tours. Landlords using Doorkee own more than 40,000 rental units in New York City; the company reports average savings of around $5,000 per apartment, roughly 60% lower than typical combined broker fee and vacancy costs. Doorkee launched in September 2019 and was founded by John Fagan (CEO) and Jordan Franklin (COO); it currently operates throughout New York City and plans national expansion. The company is using capital from its recent fundraise to expand the platform and enter other major U.S. markets.