Key Takeaways AI-powered property management platform Boom secured $12.7 million in funding led by Avenue Growth Partners to expand globally and develop next-generation agentic AI technology. The 2023...
An artificial intelligence-powered property management system has closed a significant funding round as the hospitality technology sector continues to embrace automation solutions.
Boom, an AI-driven property management platform, announced it has secured $12.7 million in new capital to accelerate its expansion and advance its artificial intelligence capabilities.
Avenue Growth Partners led the investment round, with participation from several prominent industry figures, including Ian Carter, former CEO of Hilton International, Scott Srebnick, CEO of Goldman Properties, and Gary Fatakov, co-founder of cybersecurity firm Siemplify.
Founded in 2023, Boom has positioned itself as a next-generation solution for the short-term rental and hospitality industries.
The company currently provides services to hospitality businesses operating in 20 countries, focusing on automating traditionally labor-intensive tasks such as guest communications and operational management.
According to Shahar Goldboim, CEO and founder of Boom, the company's mission centers on reducing operational burdens for property managers.
"Our mission is to take the heavy lifting out of property management so operators can deliver better guest experiences and build stronger businesses," Goldboim stated. "Our agentic AI modules are already driving results today, and this raise will help us scale that impact—improving guest satisfaction, increasing profitability for managers, and giving them a better work-life balance."
The fresh capital will be allocated toward several strategic initiatives, including international expansion, strengthening the company's go-to-market presence, and expanding its workforce.
Boom plans to hire additional staff in engineering, data science, and customer success departments to support its growth trajectory.
The funding round drew support from investors who had previously backed the company as private investors, signaling continued confidence in Boom's business model and technology.
Boom differentiates itself through what it describes as an "AI-first approach" to hospitality operations, placing artificial intelligence at the core of property management functions.
The platform automates various processes throughout the guest experience and property operations lifecycle.
Brian Goldsmith, co-founder and partner at Avenue Growth Partners, emphasized the company's innovative positioning in the market.
"Boom is creating a genuinely new category with its AI-first approach to hospitality operations," Goldsmith said. "The team has already proven their platform can deliver immediate value, and their vision for agentic AI takes that potential even further."
The company is developing what it calls "next-generation agentic AI" technology specifically designed for the short-term rental sector, though specific technical details about these capabilities were not disclosed in the funding announcement.
The investment comes amid broader adoption of artificial intelligence across the property management sector.
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