Madison apartment search company Abodo will have some extra fire in its search engine with the addition of $3.6 million from investors.
Abodo, established in 2012 by three UW grads who were having a hard time finding housing in Madison, is an online tool to help renters land an apartment.
The company started by focusing on mid-sized cities with university campuses, but since then has branched out into large cities, as well. Abodo now operates in more than 300 cities, and has been used by several million renters, the company said.
Abodo has 36 employees, with 23 of them at the company's Madison office at 316 W. Washington Ave.
The new funds will let Abodo add sales staff and software engineers, with plans to enhance the way renters use the online platform, CEO and co-founder Alec Slocum said.
"In 2018, our user base outside of college towns grew rapidly, and we knew our product was needed all across the country and in every major city to help provide the best rental experience for more than just college students and young professionals," Slocum said.
"At this point, we're a national business and a recognized brand in the industry," he said.
The new funds bring the total to $10.9 million that Abodo has raised since it began. The latest investment round was led by 4490 Ventures, in Madison, and Flyover Capital, in Overland Park, Kansas.