MadDog Technology Moving 3 Startups To Pontiac, Plans To Hire 100 Workers
PONTIAC (WWJ) - A technology business is moving three of its startup companies to Pontiac in an act that might signal another re-birth for the beleaguered city.
MadDog Technology, founded by Pete Karmanos Jr. and Mark Hillman, announced Thursday it is moving its companies Lenderful.com, DeliverMyRide.com and PerfectRealty.com to the historic Riker Building in downtown Pontiac.
The companies, which will occupy a 15,000-square-foot space, also plan to hire more than 100 local workers 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," Karmanos said in a statement. "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."
Hillman said the building's location will help them compete for the best of the best technical talent.
"It is centrally located to top residential areas in Southeast Michigan – Auburn Hills, Rochester, Troy, West Bloomfield, Bloomfield Hills, Birmingham and Royal Oak," Hillman said in a statement. "Oakland University and OCC have software technology programs that align to our growth plans and we look forward to partnering with them to grow and retain local talent."
Lenderful is a new online mortgage platform company that allows customers to shop for rates online, learn about the mortgage process, and apply online. DeliverMyRide allows users to compare vehicles and financing choices; users can buy a brand new car from their couch, with competitive pricing – and have it delivered to their door the next day. PerfectRealty's online platform lets consumers take the lead and save – listings, market analysis, appointments – providing the professional real estate experience at a fraction of the cost.
Lenderful plans to invest over $1.75 million; with additional investments being made by DeliverMyRide and Perfect Realty. Lenderful has been awarded an $800,000 Michigan Business Development Program performance-based grant.
Michigan was chosen for the move over a competing site in North Carolina. The city of Pontiac also offered support to the project by waiving building and other permits.
County Executive L. Brooks Patterson said companies like Lenderful help to enhance Oakland County's reputation as a high-tech destination.
"None of this would have happened without our great partnership with Pontiac and the MEDC to keep this investment in Michigan," he said.
