Apartment listing technology startup ABODO has raised $4.8m in Series A funding, paving the way for exponential growth of the business.
Led by existing investor 4490 Ventures, this investment follows strident development of the business. American Family Ventures and Flyover Capital are also participating in this round of funding.
Greg Robinson, MD of 4490 Ventures, said, “ABODO is bringing innovation to a sector that has lacked significant innovation for decades.
“ABODO gives a younger apartment seeker an experience that is modern and consistent with their mobile lifestyle.”
ABDO posits itself as a apartment hunting app for millennials and young professionals. It combines a mobile first approach with an inventory of apartments across the United States, providing younger home hunters with the tools they need to find and rent apartments.
The app reports that user growth has increased by 600 per cent in the last 12 months.
Alec Slocum, ABODO’s chief executive, 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.”
To date, ABODO has raised over $8m since the company was founded in 2012. The team is now 28-strong and headquartered in Madison, Wisconsin.