Today, ABODO celebrates a major milestone: the close of our Series A round of funding, totaling $4.8 million.
Four years ago, after years of painful struggles to find an apartment, we set out to solve the search problem. This round of funding serves as a testament to the progress we’ve made, and brings our total fundraising to more than $8 million.
ABODO is already making money, but this fundraising will allow us to grow even faster than we have been. Since our founding in 2012, we’ve expanded from our hometown of Madison, WI, to 30 markets around the country. In the past year alone, our user growth increased 600%, nearly topping 500,000 users nationwide.
Our users know they can rely on us for an intuitive search, incorporating filters, maps, photos, and an expansive inventory. And our property managers benefit from detailed, easy to find listings.
So what’s next? Armed with our funding — thanks to our customers and investors — we’re going to keep pushing to make the apartment hunt as easy as it should be. We’re growing our team and plan to double our markets within the next two years.
As far as our product is concerned, we’re continually re-evaluating our user experience, aiming to always give you the best. You can can expect to see more of our extensive and up-to-date inventory, along with the tools you need to sort through it.
As the rental market continues to grow, we’ll be there to make the search easy. And we can’t wait to come to your hometown.
ABODO, Founder and CEO
ABODO RAISES $4.8 MILLION IN SERIES A FUNDING ROUND
4490 Ventures Leads Investment in Nation’s Premier Hyper-Local Apartment Search Technology
MADISON, Wis. (August 31, 2016) – ABODO, a leader in apartment listing technology, today announced the completion of its Series A financing, totaling $4.8 million.
Led by existing investor 4490 Ventures, this investment follows exponential growth since ABODO’s 2014 Series AA round. American Family Ventures and Flyover Capital are also participating in this round of funding.
“ABODO is bringing innovation to a sector that has lacked significant innovation for decades,” said Greg Robinson, Managing Director of 4490 Ventures. “ABODO gives a younger apartment seeker an experience that is modern and consistent with their mobile lifestyle.”
By combining a mobile-first approach with a high-quality inventory of apartments nationwide, ABODO provides its Millennial and young professional users with the tools they need to find and rent apartments in a convenient and timely manner. As a result, ABODO has seen its user growth increase 600 percent over the past year.
ABODO CEO Alec Slocum said, “This round will be used to continue our mission to innovate in the apartment listing space in order to bring meaningful change to the way people find apartments today. We’re extremely excited to use the funding for continued national growth and expansion.”
Including this Series A round of funding, ABODO has raised more than $8 million since the company’s 2012 inception.
Founded in 2012 and now a team of 28, ABODO is the country’s leading hyper-local apartment search service. The company is driving the rental search experience by combining the largest inventory of available apartments with a simple and intuitive user experience. ABODO is a privately held venture-funded company, headquartered in Madison, Wis.
For more information, visit ABODO.com.
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