Rentable, formerly ABODO, raised $22.5 million in a Series B investment, the company announced recently. The round was led by Susquehanna Growth Equity.
“Our team is rapidly working to transform the rental experience from a classifieds model to an e-commerce model, where renters can search, tour and apply for apartments from their couch,” Rentable CEO Alec Slocum said in a statement. “We are excited to be partnering with SGE to supercharge the ability to bring our vision to life.”
According to a release, the funds will be used to continue scaling products and services while doubling the workforce over the next 12 months with a focus on sales, engineering, product and business development. The company also will expand its executive team.
Rentable’s marketplace is used by millions of renters.