MagicDoor Raises $4.5M in Oversubscribed Seed Round Led by Okapi Venture Capital and Shadow Ventures

MagicDoor, a company dedicated to revolutionizing property management for small landlords and operators, has successfully raised a seed funding round of $4.5 million, which was oversubscribed. The round was co-led by Okapi Venture Capital and Shadow Ventures, with participation from Motley Fool Ventures, VITALIZE Venture Capital, and Early Light Ventures.

The funding will be utilized to accelerate product development and hiring as MagicDoor experiences substantial growth and demand. MagicDoor's AI-native platform offers a unified solution for various operational needs such as leasing, payments, maintenance, and tenant communication. The platform's real-world impact has been evidenced by triple-digit monthly growth and significant productivity improvements reported by customers. This success has attracted the attention of prominent investors like Jeff Bocan, Managing Director at Okapi Venture Capital, who praised MagicDoor's unique approach, and Matt Ohlman, Partner at Shadow Ventures, who highlighted the company's ability to address the pain points of small operators effectively.

In addition to the funding, MagicDoor has added three new board members, further strengthening the company's leadership and strategic guidance. The company's Founder and CEO, Kasper Søgaard, expressed enthusiasm about the addition of experienced operators and investors to the board, emphasizing their role in shaping the product and accelerating growth.