Overview
Leasecake is a privately held company headquartered in Winter Park, Florida, specializing in real estate and lease management software. Established in 2017, Leasecake targets industries such as retail, restaurant, and service-based sectors, providing solutions to streamline lease and location management. The platform offers features like proactive reminders for critical lease dates, financial oversight complying with standards like ASC 842 & IFRS 16, and an AI-powered tool known as Cakebot for lease comprehension.
Leadership and Organizational Structure
Scott Williamson serves as the CEO, bringing over 35 years of experience in the real estate and technology sectors, having previously played key roles at JLL and ValuD. David Schrader is the Chief Product Officer, focused on developing innovative solutions. Their leadership drives Leasecake's growth and strategic initiatives.
Recent Achievements
In 2023, Leasecake witnessed a 48% growth in its customer base. The company was recognized as the 2024 "Overall Lease Management Company of the Year" by PropTech Breakthrough, signifying their excellence in delivering value to franchise and retail location operators.
Financial Performance
Leasecake raised $6 million over two funding rounds. The latest seed round, conducted on February 1, 2022, secured $3 million, supporting continuous growth and innovation.
Product Offering
- Lease Management Software: Comprehensive management of leases, critical dates, compliance, and documents.
- Lease Accounting Software: Facilitates rent schedules and compliance with major financial standards.
- AI and Cakebot: Enhances lease abstraction with AI features like critical clause summaries and a virtual assistant for real-time guidance.
Market and Customer Base
Leasecake primarily caters to food and beverage, hair and beauty, health and fitness, medtail, pet care, and retail sectors. It is especially recognized in the franchise industry as a top technology provider.
Customer Support and Resources
The company provides resources such as blogs, webinars, and customer success stories. Tailored CAM & Tax Reconciliation services and webinars with industry experts are offered to navigate complex lease management issues.
Strategic Directions and Innovations
Leasecake focuses on innovation and operational efficiencies, employing AI and real-time management solutions to minimize lease-related risks and ease administrative demands.
Competitor Profiling for Leasecake
Leasecake operates in a competitive lease management and accounting software market, facing competition from several notable firms.
Key Competitors
- LeaseQuery (FinQuery): Based in Atlanta, Georgia, with approximately 294 employees, it offers comprehensive lease management and accounting solutions. Recent developments include rebranding to FinQuery, focusing on contract and spend intelligence, supported by $25 million raised in May 2024.
- Occupier: Headquartered in New York, NY, with 43 employees, it focuses on tenant lease management software, supporting ASC 842 and IFRS 16 standards. It raised $10.5 million in a Series A round in March 2022.
- Visual Lease: Located in Woodbridge, New Jersey, with 51-200 employees, Visual Lease offers centralized lease management and accounting, known for its sustainability reporting integration. It manages over 1,500 organizations’ lease records globally.
- AppFolio: Situated in Santa Barbara, CA, it provides cloud-based property and lease administration solutions, managing over 8 million units for more than 20,000 customers.
- Yardi Corom: Based in Goleta, California, with 5,001-10,000 employees, Yardi Corom offers a cloud-based lease management solution, recognized as a global standard for over 5,000 real estate businesses with four decades of reliability.
