Boom, a leading leasing operating system for single-family rentals (SFR), announced on Tuesday that it has received USD 15 million in Series A funding. The company also introduced BoomCRM, an agentic leasing and touring customer relationship management product built on Boom's existing underwriting engine.
The funding round was led by S3 Ventures, with participation from Mischief VC, the fund of Plaid CEO Zach Perret. Existing investors such as Starting Line VC, Company Ventures, and Gilgamesh Ventures also re-invested in the round.
Founded in 2020 and based in Austin, Texas, Boom positions itself as an infrastructure company for financial services in the rental sector. It collaborates with property management systems to optimise timely payments, reduce fraud, and increase revenue across the entire tenant lifecycle. This includes the SFR, scattered sites, and manufactured housing (MH) sectors.
Rob Whiting, CEO and co-founder of Boom, commented on the funding: "To date, we've been pretty conservative with the capital we've raised and spent. We have strong product-market fit and grew roughly 8x up to our Series A. Year-to-date, we've grown another 3x. This funding will help us accelerate various initiatives, including launching this product and other products, expanding the engineering team to support these developments, and go-to-market efforts. Since we primarily operate in single-family rentals and manufactured housing, we want to continue to focus more on these sectors."
Boom's existing products include BoomReport, automated rent reporting to encourage timely payments, increase revenue, and build tenant credit scores, and BoomScreen, a tenant screening tool to prevent fraud, accelerate the leasing process, and select the most qualified tenants.
Whiting explained that most current leasing CRMs are either primarily designed for multi-family properties or are general tools like Salesforce and HubSpot, which have been adapted for rental purposes. EliseAI is considered the most visible specialised provider in the rental sector, recently achieving a valuation of over USD 2 billion. KnockCRM was sold to RealPage for several hundred million US dollars a few years ago. The SFR market has largely been neglected by these established providers, as scattered sites, numerous properties, and diverse ownership structures bring with them different requirements.
Aaron Perman, General Partner at S3 Ventures, commented in an email: "Property managers use software for accounting, not for decision-making. Boom transforms a tedious, fragmented leasing process into a modern customer experience, with same-day application responses." Boom already works with property managers for some of the largest SFR and MH operators, including over 400 operators and approximately 500,000 units, as well as more than 25 percent of the top 40 SFR third-party providers and 30 percent of the top 100 largest MH operators.
