Virdee adds financing from SaaS investors; total seed funding at $4M

Virdee, a SaaS company delivering digital check-in and virtual concierge services to the hospitality and commercial real estate industries, has added a strategic round from SaaS investors to further accelerate its growth across hospitality, multifamily, student housing and medical verticals where demand has been strong.

Financing was provided by Silverton Partners, an early stage investment firm based in Austin, TX. Also participating in the round were LiveOak Venture Partners, an Austin-based early stage venture capital firm which partners with entrepreneurs to build world-class companies, and DJR Advisors, which invests in high-return business that help maximize owners’ return on investment.

“Virdee’s suite of SaaS solutions is uniquely positioned to remake the market for digital check-in and virtual customer engagement,” said Morgan Flager, managing partner, Silverton. “With demand for the company’s products rising faster than anyone could have expected, we are pleased to partner to help Virdee strategically scale its businesses.”

In a time of rising costs and shifting models of customer service and operation, Virdee’s software is leading the real estate industry toward the adoption of contactless, customer-centric solutions that elevate the guest experience while reducing cost and increasing margins for operators, according to the company. With early customer adoption at leading hotel, multifamily and corporate housing brands, the company’s API-first solutions have already demonstrated savings in staff time and reduction in friction around the check-in/checkout process. Virdee’s products integrate seamlessly with the leading door lock and property management systems and provide a complete solution for frictionless, contactless check-in.

Branigan Mulcahy, Virdee cofounder, said, “We are deeply appreciative of the participation of each of our new investors. This is a group of visionaries with amazing experience in scaling and building out disruptive SaaS businesses. We could not be more excited about the insights and strategic guidance each of them brings to the table and look forward to working closely with all of them to build Virdee’s exciting future.”

In addition to Sliverton, the investment group represents some of the leading thinkers and practitioners in the SaaS space, according to Virdee. Leading the investment for LiveOak Venture Partners is cofounder/partner Krishna Srinivasan, who has more than 20 years of experience investing in early stage, Texas-based technology companies, and has helped create more than $2 billion in enterprise value. Led by Richard A. Gray, DJR Advisors specializes in travel-related corporate development, technology due diligence, digital transformation and demand generation. He is the cofounder and former CEO/chairman of TravelClick, a company that provides cloud-based and data-driven solutions that enable hotel owners and managers in over 175 countries to maximize revenue and optimize profit. It was sold in 2018 to Amadeus.

Virdee cofounder Nadav Cornberg said, “We are grateful to welcome these esteemed investors to our seed round investment group which includes Rajiv Trivedi, past CEO of La Quinta and chairman of TST Capital. Along with them, we believe the debate about whether automated check-in, verification and payment solutions will replace legacy methods is now long settled, and the question is now not ‘if’ but ‘when.’ We believe the time is now, and Virdee is the company best positioned to lead hotel and other real estate owners toward a completely contactless, efficient model of operation.”