Startup Boom Raises $12.7M, Fuels Growth for AI-Powered PMS

Boom, a startup specializing in AI-driven property management systems (PMS), has secured $12.7 million in funding to accelerate its international expansion, product development, and recruitment efforts.

The funding round was led by Avenue Growth Partners and included prominent investors such as Ian Carter, former CEO of Hilton International; Scott Srebnick, CEO of Goldman Properties; and Gary Fatakov, co-founder of Siemplify, all of whom had previously supported Boom as private investors.

Built for the short-term rental and hospitality sectors, Boom aims to reduce the manual workload for property managers by automating guest communications, review handling, housekeeping tasks, and financial processes, such as price optimization and report generation.

Boom was founded in 2023, and the platform currently supports hospitality providers in 20 countries.

The company anticipates growth opportunities in new geographic markets and broader accommodation types, including aparthotels and boutique hotels.

In September, a major hospitality purchasing group, Cadhi, selected Mews as its preferred PMS provider, pursuing similar objectives like automating key operational tasks, enhancing guest experiences, and optimizing revenue.

Photo by Dylan Calluy on Unsplash