MADISON, Wis.–(BUSINESS WIRE)–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.