The Orlando-based property tech firm Leasecake has received $12 million in a Series A round investment, company leaders announced on Monday.
Leasecake’s cloud-based platform helps tenants, landlords and brokers manage housing sites. For instance, it allows landlords to manage leases or track contracts and safety inspection records in one online location.
The business took off during the pandemic, as revenue in 2021 was five times as much as in 2020. Leasecake customers include single-site operators, businesses managing more than 1,000 properties and everything in between.
The financial injection will enable the company to more than double its headcount during the next 18 months. Leasecake officials also plan to expand into Europe and Latin America and bolster its platform.
“The world is speeding up,” CEO and cofounder Taj Adhav said. “The future of work means finding easy ways to act on what matters. For our customers across the retail, office and industrial sectors, the future is now.”
New York City and Silicon Valley-based PeakSpan Capital led the round. Las Olas Venture Capital bolstered the round along with other existing investors.
Branded Strategic Hospitality, an investment firm the company called “strategic,” signed on as a new investor, as well.
“We think Leasecake is a pioneer in bringing broad-based location management excellence to tenants, landlords and brokers,” PeakSpan managing partner Phil Dur said in the statement.
Leasecake has been a part of Orlando’s startup community since a Startup Weekend event in 2018.
At the event, a team of former Channel Intelligence executives, including Adhav, pitched their idea for the business.
Channel Intelligence is one of the more successful Orlando tech stories, having been acquired by Google in 2013 for $125 million.