Castle, a tech startup focused on property management, has closed a seed round of funding worth $270,000.
The Detroit-based company plans to use the seed capital to add staff and continue to build out its property management software and services. The 1-year-old firm is proving out its business model in Detroit with aspirations of taking it national this year.
"We have seen some really exciting traction over the last few months," says Max Nussenbaum, CEO of
Castle. "Let's see where it goes from here."
Three members of
Venture For America's inaugural class (2012) launched Castle last year. Venture For America functions similarly to Teach For America, pairing talented college graduates with jobs at startups in economically challenges cities for a two-year fellowship. VFA fellows also helped found
Rebirth Realty, which is turning a tax foreclosure in Virginia Park into housing for future Venture For America fellows. Castle is based out of that house.
Castle's software platform handles property management by automating service calls, rent collection, and other similar duties. The company is currently handling management for 52 properties both in the city of Detroit and the surrounding suburbs. Those properties are primarily single-family homes. The Castle team would like to get those numbers to several hundred by the end of this year.
"We figure if we can make this work here, we can make this work in Baltimore or Providence," Nussenbaum says. "It's only going to get easier."
Castle currently employs a team of three people and is looking to hire another three. Those new jobs include software development, business development, and operations.
Source: Max Nussenbaum, CEO of Castle
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
Enjoy this story?
Sign up for free solutions-based reporting in your inbox each week.