Virdee Announces Strategic Financing from Leading SaaS Investors, Bringing Total Seed Funding to $4 Million
With investment from Silverton Partners and Participation from LiveOak Venture Partners and DJR Advisors, Virdee Seizes Rapid Market Demand to Scale its Solutions Quickly Across Real Estate Verticals
AUSTIN, Texas, April 19, 2021 /PRNewswire/ -- Virdee, a SaaS company delivering digital check-in and virtual concierge services to the hospitality and commercial real estate industries, has added a strategic round from seasoned SaaS investors to further accelerate its growth across hospitality, multifamily, student housing and medical verticals where demand has been strong.
Financing was provided by Silverton Partners, an early-stage investment firm based in Austin. Also participating in the round were LiveOak Venture Partners, an Austin-based early-stage venture capital firm that partners with visionary entrepreneurs to build world class, category dominating companies; and DJR Advisors, which invests in high-return businesses that use state of the art technology to maximize owners' return on investment.
"Virdee's suite of SaaS solutions is uniquely positioned to remake the market for digital check-in and virtual customer engagement," said Morgan Flager, Managing Partner at Silverton. "With demand for the company's products rising faster than anyone could have expected, we are pleased to partner to help Virdee strategically scale its businesses."
In a time of rising costs and shifting models of customer service and operation, Virdee's software is leading the real estate industry toward the adoption of contactless, customer-centric solutions that elevate the guest experience while reducing cost and increasing margins for operators. With early customer adoption at leading hotel, multifamily and corporate housing brands, the company's API-first solutions have already demonstrated savings in staff time and reduction in friction around the check-in/out process. Virdee's products integrate seamlessly with the leading door lock and property management systems and provide the only complete solution for frictionless, contactless check in – serving 100% of guests 100% of the time, simply and cost-effectively, independent of guest loyalty status or affiliation.
Branigan Mulcahy, Virdee Co-Founder, said, "We are deeply appreciative of the participation of each of our new investors. This is a group of visionaries with amazing experience in scaling and building out disruptive SaaS businesses. We could not be more excited about the insights and strategic guidance each of them brings to the table and look forward to working closely with all of them to build Virdee's exciting future."
In addition to Silverton, the investment group represents some of the leading thinkers and practitioners in the SaaS space. Leading the investment for LiveOak Partners is co-founder and partner Krishna Srinivasan, who has more than 20 years of experience investing in early stage Texas-based technology companies, having helped create more than $2 billion in enterprise value. Led by Richard W. Gray, DJR Advisors specializes in travel-related corporate development, technology due diligence, digital transformation and demand generation. Among other innovations, Mr. Gray is the co-founder and former CEO-Chairman of TravelClick, a company that provides state of the art, cloud-based and data driven solutions that enable hotel owners and managers in more than 175 countries maximize revenue and optimize profit. TravelClick was sold in 2018 to Amadeus.
Virdee Co-Founder Nadav Cornberg said, "We are grateful to welcome these esteemed investors to our seed round investment group which includes Rajiv Trivedi, past CEO of La Quinta and Chairman of TST Capital. Along with them, we believe the debate about whether automated check in, verification and payment solutions will replace legacy methods is now long settled, and the question is now not 'if' but 'when.' We believe the time is now, and Virdee is the company best positioned to lead hotel and other real estate owners toward a completely contactless, efficient model of operation."
For more about Virdee and its solutions, visit www.virdee.co.
About Virdee
Based in Austin, Texas, Virdee is an innovative software company serving the commercial real estate industry. Its API-first approach provides the most comprehensive solution of check-in/out, ID verification, payment collection, and remote support. Virdee helps clients elevate the customer experience, reduce costs and generate ancillary revenue. Virdee was founded by experienced real estate operators and visionary technologists – Branigan Mulcahy and Nadav Cornberg. It is chaired by Rajiv Trivedi, former President of La Quinta, whose C-Suite experience in hotel real estate and operations spans more than a quarter of a century. Visit www.virdee.co to learn more.
About Silverton Partners
From idea to exit, Silverton Partners works with exceptional entrepreneurs who are committed to attacking growth markets and building lasting companies. In partnering with Silverton, companies benefit from the firm's deep network and lessons learned over many decades of operating and investing experience. Founded in 2006, Silverton Partners is based in Austin and has been the initial investor behind WP Engine, Storable, SailPoint, Silicon Labs, TurnKey Vacation Rentals, The Zebra, AlertMedia, Aceable, Self Financial, Wheel, and Billie, among many others. For more information, visit www.silvertonpartners.com.
Contact: Michael Frenkel, MFC PR
Email: [email protected]
Phone: (201) 317-7035
SOURCE Virdee
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