DALLAS, August 11, 2015 – RentEval, a real estate services smartphone application, announced today the procurement of a $250,000 investment from an unnamed angel investor. The investment allows Cheri Garcia, RentEval CEO and serial entrepreneur, to acquire majority stake in the company, which was launched in 2013.
Garcia took her company RentEval, through Tech Wildcatters, a prestigious Dallas based mentor-driven seed funding and technology accelerator, from March until May 2015. RentEval offers a mobile property evaluation application which streamlines an otherwise tedious property management task. Using this application, property managers can document the condition of a unit, suite, or home using an intuitive interface. With RentEval, reports can be generated which include photographs and notes captured on site. RentEval has garnered interest from large scale property management groups and entrenched real estate technology companies and already has several valuable Dallas-based customers.
Garcia first got involved with RentEval as a consultant. She took the idea to Code Launch 2013, an annual competition of embryonic stage technology startups held by software company Code Authority, Inc., for 50% equity in the company. She won and RentEval was created. Less than two years later, Code Authority’s shares were bought out. Less than 3 months out of the Tech Wildcatters program, Garcia negotiated the majority stake.
Only 2.7% of more than 6,000 companies that received venture funding from 2011 to 2013 had female CEOs, according to a study by Babson College. A 2012 study by Dow Jones, found that about 7% of venture capital dollars go to female-led startups. Even traditional loan financing is more difficult for women. The U.S. Senate Committee on Small Business and Entrepreneurship found that female entrepreneurs receive fewer loans or get less favorable terms than men. Garcia is truly in a class of her own when it comes to female entrepreneurship.
“Entrepreneurship is my passion and my hope is to motivate more women to become leaders in male-dominated industries and succeed despite the hardships and stereotypes,” said Cheri Garcia, RentEval CEO.
Solis Media Strategies