Austin, Texas-based software-as-a-service company Virdee 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. Also participating in the round were LiveOak Venture Partners, an Austin-based early-stage venture capital firm; and DJR Advisors, which invests in high-return businesses that use technology to 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 at 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.”
“We are deeply appreciative of the participation of each of our new investors,” said Virdee co-founder Branigan Mulcahy. “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.”
Leading the investment for LiveOak Partners is co-founder and partner Krishna Srinivasan, who has more than 20 years of experience investing in early stage Texas-based technology companies, having helped create more than $2 billion in enterprise value. Led by Richard W. Gray, DJR Advisors specializes in travel-related corporate development, technology due diligence, digital transformation and demand generation. Among other innovations, Mr. Gray is the co-founder and former CEO-chairman of TravelClick, a company that provides cloud-based and data driven solutions that enable hotel owners and managers in more than 175 countries maximize revenue and optimize profit. TravelClick was sold in 2018 to Amadeus.
“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,” said Virdee co-founder Nadav Cornberg. “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.”