Indy Tech Startup Scores Funding
INDIANAPOLIS - Indianapolis-based Tenant Tracker has closed on a $600,000 seed rounding of funding. Keith Kleinmaier, co-founder and chief executive officer of the tech startup, says the funding will be used to dial up the company's sales efforts and take its product to the market.
Tenant Tracker produces tenant coordination and build-out software for the commercial real estate industry. The software transfers paper-based processes to the cloud, which the company says results in significant gains in efficiency.
Co-founder Mike Kelly, who is also the managing partner of DeveloperTown in Indianapolis, says users will be able to track property leasing deals, manage construction status, see detailed property reports, access tenant data, and share status reports.
VisionTech Angels, also based in Indy with chapters throughout the state, was the primary investing group. The firm's investment was matched by Elevate Ventures. Ben Pidgeon, executive director of VisionTech Angels, says Tenant Tracker has attracted a lot of interest from investors in Indy, Bloomington, Fort Wayne and Lafayette.
"Tenant Tracker has the potential to transform an untapped market, commercial real estate, that is very detail oriented and still tied to paper," said Pidgeon. "Our investors liked that Tenant Tracker has a good customer base that is successfully using the software and are validating their revenue model; it’s very impressive in an early growth company."
Kleinmaier is a local commercial real estate broker based in Fishers.