Property Meld Testifies for Subcommittee on Communications in Washington, D.C.

Ray Hespen, Co-founder and Chief Executive Officer of Property Meld, joined 27 United States Senators and three other witnesses from across the country in the Subcommittee on Communications, Technology, Innovation and the Internet’s hearing titled, “Betting on the Rest: Expanding American Entrepreneurship Outside Tradition Hubs.” The hearing aimed to examine the venture capital gap between different geographical regions in America, how COVID-19 could redefine this gap, and what the private and public sectors are doing to address it. 

The opportunity to testify before this U.S. Senate Subcommittee not only highlights Property Meld’s success but also sheds light on South Dakota’s ability to harbor innovation and entrepreneurship. Early-adopters provided the spark Property Meld needed to take off, subsequently becoming one of the fastest-growing PropTech companies in the U.S. Today, Property Meld has successfully demonstrated the sustainable growth required for continual investment. 

“We started our company in 2015, and by the beginning of 2018, we had grown to 4 employees. Since then, we have accelerated our job creation and now employ 44 amazing people with no signs of slowing down,” said Hespen. “Starting from a basement, moving to a local incubator, and now building a 14,000 sq ft beautiful facility in downtown Rapid City. We have shown what can be accomplished when the right ideas meet the proper execution. We’re having a real impact on our local and national economy.”  

Thanks to the mentorship found in his Rapid City and South Dakota network, he raised enough money to get Property Meld on its feet.  

Other witnesses in today’s hearing include Ms. Jan Garfinkle, Founder and Managing Partner, Arboretum Ventures, Ann Arbor, MI, Mr. David Hall, Managing Partner, Revolution’s Rise of the Rest Seed Funds, Washington, D.C., and Ms. Dawn Lippert, Chief Executive Officer, Elemental Excelerator, Hawaiian Islands.

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