setting the scene
you quit your 9 to 5 to pursue your dream of opening a bed and breakfast 🛏
one weekend, a big group books out every room and throws a rager 🍾
upon checkout, you find almost every unit in poor condition 🤬
you struggle to assess the damage and identify the missing items
this week's company helps real estate companies deal with damage by bringing computer vision to property inspections
in a sentence
Paraspot enables real estate companies to conduct virtual property inspections
companies: hotels and short-term rentals
conduct: a tenant or housekeeper scans the unit through an app
virtual: the app uses ai-based algorithms to generate a report on structural problems and damaged items
bulleted version: similar to how the measure app on an iPhone scans an object to measure a distance, Paraspot scans rental units to generate an inspection report 📱
the basics
industry: proptech, hospitality, ai, b2b saas
headquarters: Berlin, Germany 🇩🇪
year founded: 2020
company size: < 5 employees 💼
amount raised: £120k
business model: recurring revenue, contracts priced per unit
sponsored by
Mercury is flipping the script on business banking
despite being an instrumental pillar of starting and scaling a company, traditional banking has never catered to founders’ unique needs
that’s why Mercury’s founders decided to create a new standard for business banking with a platform that fuels founders and their finance teams with exactly what they need (and nothing they don’t)
manage FDIC-insured accounts, send money seamlessly, grow with alternative financing, and more - all online, all with confidence
try their demo to see why more than 100k startups across industries, stages, business types choose Mercury to help them build the next great companies
Mercury is a financial technology company, not a bank. Banking services provided by Choice Financial Group and Evolve Bank & Trust®; Members FDIC.
due diligence
what we like
📈 property management trends: the $14b property management software market is projected to double by 2030 as real estate companies adopt new technology
👁 spotting pain points: Paraspot cuts inspection time from 20 minutes to 90 seconds per unit, mitigates human error, eliminates security deposit disputes, and reduces the need for in-person visits
🏘 market expansion: while the startup currently serves hospitality and short-term rental companies, Paraspot can grow its tam by expanding to long-term rentals, commercial properties, and student housing
potential risks
weekly cartoon
founder profiles
Yakir Saadia (ceo, cto; prev. @ RADCOM)
Nathan Herz (coo; prev. @ Techstars, Cornerstone, Guesty)
comps
why Paraspot: Paraspot has signed 5 major customers and piloted the software with major hospitality players; from our inspection, Paraspot is well-positioned to disrupt the property management industry 🏩
what we're reading 📚
our friend Andrew Yeung is a product lead at Google, community builder, and host of tech events with 10k+ attendees
check out Andrew's newsletter, Musings & Perspectives, where he shares insights on leadership, career growth, and relationship building