Mad Dog Technology is moving three of its companies — Lenderful, Deliver My Ride, and Perfect Realty — to the historic Riker Building in downtown Pontiac. The three companies have a build-out in process of 15,000 square feet of tech space under contract, and plan to hire over 100 professionals over the next 36 months.
“…There is a growing base of technology companies in Pontiac, and we see Pontiac emerging as a technology center in Southeast Michigan,” says Pete Karamnos Jr., chairman and cofounder of Mad Dog Technology. “Being one of the first to invest in Detroit, we saw that technology companies can be the heart of an economic renaissance. We believe Pontiac can see the same sort of explosive growth in the short term.”
Formed by Mad Dog Technology, Lenderful is a new online mortgage platform company that allows customers to shop for rates online, learn about the mortgage process, and apply online.
Lenderful plans to invest over $1.75 million, and has been awarded an $800,000 Michigan Business Development Program performance-based grant. Michigan was chosen over a competing site in North Carolina. The city of Pontiac has offered support to the project by waiving building or other permits.
Deliver My Ride, an auto website for the car buying process, allows visitors to compare vehicles and financing choices, while online platform Perfect Realty helps consumers save on listings, market analysis, and appointments when selling their home.
Company officials with Mad Dog Technology say Lenderful, Deliver My Ride, Perfect Realty, among other Mad Dog Technology companies, are poised for rapid growth. The three companies, in particular, went through a search process to find the perfect permanent location to accommodate their growth and expand their technologies.
“(Pontiac) is centrally located to top residential areas in Southeast Michigan – Auburn Hills, Rochester, Troy, West Bloomfield, Bloomfield Hills, Birmingham, and Royal Oak,” says Mark Hillman, cofounder of Mad Dog Technology and CEO of Lenderful. “Oakland University and (Oakland Community College) have software technology programs that align to our growth plans and we look forward to partnering with them to grow and retain local talent.”
He says the move to the new building, located at 35 W. Huron St., has support from Pontiac and Oakland County leadership, and The Michigan Economic Development Corp. has looked at the move to Pontiac as a strategic project.
Mad Dog Technology’s mission is to invest in technology companies that develop and market cloud-based business applications. The company is comprised of a team of senior executives with experience as technology start-up CEO’s, large-scale software developers, and technology strategists. The Mad Dog business portfolio includes a number of technology startups and a venture capital fund, and its business models include organic start-ups, startup partnering, and partnering with existing early stage operations.
To learn more about Mad Dog Technology, which Karmanos started with six partners, read Mad Dog from DBusiness magazine’s September/October 2015 issue