Detroit startup Castle kicks off first month at Y Combinator

One of the more promising startups in Detroit's tech scene is making a splash several time zones over. Castle, the property-management startup, is nearly done with its first month of work at the Y Combinator accelerator in Silicon Valley.

The world-famous startup accelerator is the cream of the crop when it comes to tech incubators. More than 1,000 startups have passed through its program since its launch in 2005. Its alumni include some current tech heavy hitters like Reddit, AirBnB, and Dropbox. Getting in is no easy task. It took the Castle team three tries before it got its invitation to the Winter 2016 batch. About 5,000 startups applied and only 89 were selected.

"While we're thrilled that leaders in the startup community have recognized what we've accomplished so far, we know that the real work is yet to come," Max Nussenbaum, CEO of Castle wrote in a recent email. "YC is an opportunity that we’re going to have to work incredibly hard to make the most of, and that’s exactly what we plan to do!"

Castle's software platform streamlines the property management process for landlords and tenants. It provides services for quick fixes, rent collection, and finding new tenants for a flat, monthly fee of $79. The company got its start when three fellows of the first Venture For America class in Detroit were renovating a tax foreclosure in Virginia Park into a future home for VFA fellows.

Castle has since taken over management of hundreds of rental units in Detroit, and it consistently grows its client list by double-digits each month. The company raised a $300,000 seed round in early 2015.

Source: Castle
Writer: Jon Zemke

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