ORLANDO, Fla.--(BUSINESS WIRE)--Leasecake, an Orlando, Florida-based commercial real estate operating system for location management, announced today it raised $3 million in an oversubscribed seed round led by Las Olas Venture Capital, a seed-stage venture firm based in South Florida that specializes in B2B software investments. Additional investors include strategic venture capital firms and investors in New York City, Chicago, Denver, and San Francisco.
Leasecake is the sole source of truth for parties on all sides of a lease transaction, with the primary focus on multi-unit tenants and their tenant-rep brokers. The software supports underserved small to mid-sized enterprises (SMEs) by helping them stay on top of mission-critical, time-sensitive events that can significantly impact their business.
“Businesses operate more efficiently and protect their hard-earned profits when they implement Leasecake,” said Taj Adhav, CEO and co-founder of Leasecake. “Our early adopters were retail tenants. However, we quickly grew to include office, medical, and corporate customers wanting to move off legacy systems to a cloud-based platform that’s easily shareable for today’s distributed teams.”
With many companies planning to continue using a “remote-first” structure even after the pandemic ends, SMEs increasingly deploy sophisticated enterprise location management technology on par with larger companies. To accommodate the shift, SMEs invest in platforms that will help them achieve greater efficiencies and become more competitive for the future.
“What excites us about Leasecake is that it provides a competitive advantage beyond real estate events,” said Mark Volchek, founding partner of Las Olas Venture Capital. “Customers use the platform for tracking renewal options, expirations, and critical clauses buried in a commercial real estate lease. Leasecake is also their tracking tool for everything from business licenses and insurance renewals to fire extinguisher inspections and maintenance contracts. At Las Olas, we focus on investing in vertical software solutions to these types of industry problems – mission-critical areas that legacy solutions ignore.”
Capital raised in the seed round will fuel Leasecake’s next iteration of product development and provide funding for business development activities.
Leasecake is a SaaS application designed to be the sole source of truth for all lease and location information. The software provides proactive notifications for all mission-critical, time-sensitive events, and simplifies collaboration across distributed teams. It helps multi-location operators save time, minimize risk, and better manage their growth.
About Las Olas Venture Capital
Las Olas VC is a B2B-focused, early-stage investment firm backing the next generation of enterprise tech founders. Las Olas VC's mission is to provide capital leveraging its extensive operating experience and network to help B2B founders win. Dean Hatton, Esteban Reyes, Paul Tanner, and Mark Volchek are the Founding Partners of Las Olas VC.