Proptech company Goodlord, which has raised £10m in funding, has announced a new person at its helm. He is William Reeve.
Its founder, former Foxtons negotiator Richard White was this morning described by the firm as “former CEO”.
Reeve who has been involved in various board roles in UK tech successes such as Zoopla, Fletcher Research, Graze, LOVEFiLM, and Secret Escapes, is said to “bring a unique combination of experience in fast-growth technology, subscription services and the property industry”.
A statement this morning says: “As Goodlord continues its rapid growth, its founders Richard White and Tom Mundy agreed with the board that the time was right to bring in more experience to the senior management team.
“The firm has recently undergone a restructure, shifting focus from sales and marketing to the development of new features and automation of the platform. This next phase will see exciting new products aimed at supporting agency growth, to be rolled out over the next course of the year.”
The news follows the disclosure, exclusively reported in EYE, that the firm has laid off almost 40 employees.
The statement also says that the existing investors have put more money into the firm.
Goodlord was founded in 2014.
Today’s statement says that Reeve will work closely with White and Mundy “to help the business develop its market-leading technology and support its letting agent clients to cut costs, improve their users’ experience and develop new revenue streams”.
Concerning – this means they can’t get letting agencies to pay for money saving services. I wonder how much money Life Residential made out of the initial investment..
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Good Lord, who would have thought a business set up to leech from agents would fail? Biggest surprise is people funded this to the tune of £10million!
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This was always going to happen. It seems raising money in our sector is relatively easy if the proposition is to ‘disrupt’. Working with agents successfully takes much more than initial investment. Richard White did not understand this market, arrogance does not go down well. I feel for the people who have lost jobs and for agents who have wasted money, especially those that have made up front payments.
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When will all of these “proptech” companies & investors realise that selling and letting properties is not like buying your groceries or gadgets online.
You need a massive amount of human input in both processes as there are so many scenarios that a program or app could never deal with – houses have been sold and let for decades without the internet or proptech.
The internet is now vital FOR ADVERTISING purposes – people do the rest.
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