LOS ANGELES--(BUSINESS WIRE)--LeaseLock, the world’s leading insurtech platform for real estate, today announced the addition of former RealPage, Inc. and Interior Logic Group engineering executive Sudip Shekhawat as Senior Vice President of Engineering.
Shekhawat oversaw a global technology team of over 200 engineers while at RealPage where he led the design, development, and growth of several core business lines into hundreds of millions in recurring revenue. Key software products Shekhawat organically pioneered include revenue management, data analytics, and business intelligence; including the acquisitions of Rainmaker LRO ($300m), Axiometrics (~$75m), and Rentlytics ($57m). Most recently, he served as Senior Vice President of Engineering at Interior Logic Group, helping transform the business toward SaaS and leading into the $1.6b acquisition by Blackstone.
With 15 years of SaaS experience in real estate, Shekhawat will help scale LeaseLock’s data-powered technology platform that leverages AI to prescribe lease insurance coverage by asset to completely replace security deposits across multifamily portfolios.
“Sudip is a real estate technology pioneer, and he wants to build the next generation of financial technology products with us,” said LeaseLock CEO Derek Merrill. “His ability to build and lead a global engineering team will be critical to our success.”
Shekhawat, who brings in two decades of experience in application development and data engineering along with a masters degree in Computer Science from the University of Texas at Dallas, joins as the company surpasses $3 billion in leases insured, just five months after hitting the $2 billion mark.
NMHC Top 50 operator LeaseLock clients include Greystar, Cushman & Wakefield, Avenue5 Residential, Harbor Group Management Co., Western Wealth Communities, LMC, RKW Residential and Pegasus Residential. Top ownership clients include Goldman Sachs, PGIM, ColRich, Strata, GoldCor, Olive Tree, TruAmerica, White Oak, Trinsic, and Goodman Real Estate.
LeaseLock is the world’s leading insurtech platform for real estate.
We provide lease insurance to eliminate security deposits from the rental housing industry—removing complexity for residents and operators while creating a superior financial performance for asset owners.
Powered by artificial intelligence, we optimize coverage by property to better protect owners—resulting in industry-leading bad debt reduction. LeaseLock is deployed seamlessly within existing property software to increase lease conversion, drastically reduce deposit administration and regulatory risk, and improve the resident experience.
LeaseLock has insured over $3 billion in leases backed by insurance rated A (Excellent) by A.M. Best. Our global investors include SoftBank Ventures Asia, Wildcat Ventures, Westerly Winds, Vertex Ventures US, Liberty Mutual Strategic Ventures, American Family Ventures, Moderne Ventures, Mucker Capital, and Hivers & Strivers Investment Fund.