ABODO Raises $325K

by Brian Lee

Apartment-listing company Abodo has raised $325,000 in seed funding, the company announced today.

The money, which came from seven Wisconsin investors and one from out of state, will help Abodo expand into other markets, including Milwaukee, which launched today. Abodo also is hiring for sales positions.

“We raised this round to fund a more rapid expansion of the platform to more cities just like Madison,” CEO Alec Slocum said. “(The money) allows us to move faster and expand more rapidly by, among other things, beginning to create a sales force we use to open new markets, advertising in new markets we enter and investing more in the product itself as we scale.”

Abodo, which participated in gener8tor’s accelerator program last winter, also announced that Michael Taus, co-founder of Rent.com, made a “strategic investment.”

According to a release, Milwaukee’s launch brings 130 properties throughout the downtown, West Allis, Bay View and Shorewood areas to local renters.