Recently awarded the prestigious Founder of the Year RETA, L.D. Salmanson, CEO and co-founder of Cherre, is someone who seems known to just about everyone in our industry. His vision, leadership, and relentless (and sometimes intense) dedication to transforming real estate data have made him a standout figure, not only at Cherre but across the entire proptech community. If you’ve ever seen him present, you know what we mean.

For those who haven’t had the chance to get to know him personally, we wanted to offer an inside look at the person behind the title. In this in-depth profile, we explore L.D.’s journey, his insights on scaling a tech company, and what excites him most about the future of Cherre and real estate technology.

What was the initial spark that led to the creation of Cherre, and how has your vision for the company evolved since its inception?

Cherre’s journey started long before the company was officially founded in 2016. Ben and I have been friends since the fourth grade. We co-launched our first company when we were 14 (an IT services company), which we then sold a few years later.  We both like solving complex challenges, and that is what led to working together over the years, and eventually to Cherre. 

I came from a private equity background, and had experienced firsthand the frustration of data fragmentation in real estate. Despite having access to endless data, the lack of integration made informed decision-making in the industry difficult at best. 

Ben, who has a background in creating scalable tech solutions, and I discussed the challenges of bringing disparate real estate data together, and we realized there was an opportunity to turn real estate into a data-driven field. We saw that connecting disparate data was only the beginning and what the industry truly needed was a way to fully control, validate, and trust its data. That vision led to the creation of Cherre—a platform that goes beyond simple data pipelines and provides an end-to-end real estate data management solution.

Since then, Cherre has matured into a comprehensive data intelligence platform. We’ve layered in features like data validation, observability, and powerful insights, giving our clients transparency into their data, from ingestion to analysis. With this foundation, we’re not just helping our clients make better decisions; we’re enabling a new level of data-driven innovation in real estate. Our goal remains the same—to make data the trusted backbone of every decision in real estate.

Can you walk us through a pivotal moment in Cherre’s early days that shaped the company’s direction?

One of the things that we observed very early on is that existing solutions started at the end – at the business consumer. That meant that the industry was over indexed around reporting and visualization solutions, but fell very short on the core data infrastructure that exists in almost any other industry. By focusing on the challenges from the bottom up, we were able to build a scalable infrastructure that can today meet almost any business user’s needs. We recognized that this would be a much harder challenge (and one that would take longer), but that at the same time, would truly transform the industry vs just a small improvement in graphics.

As Cherre has grown from a startup to a Series C company, what have been the most significant challenges you’ve faced, and how did you overcome them?

There are a few different challenges we’ve faced since launching Cherre that come to mind, the first being the switch to remote work during 2020. Prior to Covid, Cherre was mostly an in-office culture and employees came into the office 4-5 days a week. Moving to remote work in March of 2020 wasn’t a work or technology challenge, it was more so a challenge to ensure that Cherre’s culture stayed strong, and that any new employees onboarded during that time got to experience and become integrated into the Cherre family in the same way. We launched informal coffee chats, introduced new collaborative tools, increased communications and updates, and hosted virtual happy hours that were always full to ensure that the Cherre team stayed connected, preserving our strong company culture. Since then, we’ve become a hybrid organization with some fully remote and many hybrid employees. 

Outside of 2020/the pandemic, the year 2023 presented significant challenges, including market liquidity issues for startups and specific difficulties in the real estate sector driven by COVID-19 and rate changes. Despite these obstacles, we managed to maintain our headcount and achieve massive growth while maintaining an 80% gross margin. Our resilience and ability to lead the industry through tough times underscore our strength and strategic adaptability. 

Your recent “Founder of the Year” award in real estate tech is a significant achievement. What do you believe sets Cherre apart in this competitive industry?

At Cherre, innovation is at our core. We encourage junior engineers and data scientists to be vocal and contribute from day one, fostering a culture of robust discussion and continuous improvement. Our platform is the only solution that addresses the needs of multiple asset classes, strategies, and geographies while scaling as required. Consulting firms now deploy Cherre to add value quickly, which has led to accelerated growth and we expect that to continue. Our approach, coupled with the flexibility of our platform and the depth of our partner network, continues to diminish the need for point solutions, and positions Cherre as a market leader.

We remain focused on iterating and expanding our platform to meet and exceed the needs of the industry. In January, we launched the next generation of our Data Submission Portal (DSP), which quickly gained traction and became our fastest-adopted product. We’ve had solid interest in the DSP from prominent industry leaders, and we even won a Realcomm Digie Award for Best Technology Innovation in CRE. We also launched our new UI for our data observability and validation features, giving our clients unparalleled visibility into their data pipelines, data models, validation rules, and downstream destinations. The Cherre Platform UI provides clients with direct access to manage their data pipelines and validation rules, enabling them to improve their data quality and promote data confidence across the organization. 

We continue to strengthen our partner network with leading technology solution providers such as Microsoft, Snowflake and Google to provide our clients with more flexibility to leverage existing data architecture, as well as leading industry applications such as MRI, Yardi, Arugus, etc., to ensure clients can leverage their connected, trusted data in the applications that power their business. Cherre is the only data management platform specifically designed for the real estate industry.

How do you maintain focus on long-term goals while managing the day-to-day operations of a rapidly scaling company?

Maintaining our focus on long-term goals while managing the daily operations requires a clear vision and a structured approach. At Cherre, our vision serves as our north star, guiding our strategic decisions and ensuring that our daily activities align with our overarching objectives. We emphasize the importance of a well-defined product roadmap to drive innovation and keep the team aligned on priorities. 

In addition to a clear vision and roadmap, hiring top talent is crucial for scaling effectively. We’ve expanded Cherre’s management team, adding key industry and technical experience at all levels so we’re able to leverage deep and broad expertise as we grow. We prioritize recruiting individuals who excel in their fields and foster a culture of excellence. This approach not only drives innovation but also ensures that we have the right people in place to manage both long-term goals and day-to-day operations effectively.

Many founders talk about the constant nature of their work. How do you manage the “always on” aspect of leadership, and what strategies do you use to find balance?

I feel fortunate to be able to stay “on” for very long periods of time without getting overwhelmed. I’m used to working very long hours, being extremely attached emotionally, and ending the day with more left to be done. I’m not frustrated by the endless “stack” so to speak, rather I find it energizing. An hour of “nothing” in the middle of my day is my greatest fear. I believe in brutal prioritization, and leave decisions that others can make without me to those functions. 

Building a company can often feel like a solitary journey. How do you cope with the potential isolation that comes with being at the top?

Building a company is one of the loneliest things in the world. You’re responsible for anything and everything, and all the time. There’s never a moment where the responsibility is lifted, nor is there a moment when you feel at rest. In many ways it gets harder over the years. The added expectation of always being a cheerleader can take its toll as well.

Having Ben as a cofounder is an incredibly empowering feeling. Not only have I known him since we were little kids, but we’ve worked together across multiple companies for many years. Ben knows me often better than I know myself, and he makes me better everyday. He also ensures that I’m never “alone.”

We also have an incredible team with whom I feel pretty comfortable sharing how I feel and what I think. It’s a very supportive team, and I’m appreciative to have them. 

I also believe in maintaining a healthy family life. I draw a lot of energy from them, and am constantly thinking about them during my day.

What advice would you give to aspiring entrepreneurs about the realities of founding and scaling a tech company?

This is hard, painful, and tolling. It’s typically the case that this is also a terrible financial decision. Starting a company is a mix of insanity and vision, and I wouldn’t start down this path unless you are so passionate about that vision that you can do nothing else except focus on it all day. Anything less than that constant obsession and this is not worth your time.

Do something you’d enjoy failing at!

Looking back, is there anything you wish you had known or done differently when you first started Cherre?

Building Cherre is somehow even harder than we thought 🙂

As Cherre continues to grow, what excites you most about the future of the company and the real estate tech industry as a whole?

As Cherre continues to grow, I’m particularly excited about the transformative potential of emerging technologies in the real estate industry. Advancements in artificial intelligence and data analytics are reshaping how we understand and interact with real estate assets. For instance, AI-driven algorithms can analyze historical data to forecast market trends, assisting developers and investors in making informed decisions. 

At Cherre, we’re committed to leveraging these innovations to provide unparalleled data management and intelligence solutions. Our recent $30 million Series C funding round underscores our dedication to expanding our platform’s capabilities and delivering greater value to our clients. Our goal is to keep scaling, and keep empowering our clients to navigate the evolving real estate landscape with confidence and success.

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