Boomerang Secures $4.9M to Revolutionize Lost and Found Experience
Boomerang, a Miami-based startup, has secured $4.9 million in a new funding round led by New York-based firm LightShed Ventures. This round brings Boomerang’s total funding raised to $7.7 million. The company, founded by Skyler Logsdon, Augustine Diep-Tran, and Philip Inghelbrecht in late 2021, aims to revolutionize the lost and found experience by providing a comprehensive platform that helps businesses efficiently return lost items to their customers.
The new funding will fuel Boomerang’s growth and investment in its team and platform. The company has already attracted a diverse range of high-profile investors, including superstar musicians Drake and Green Day’s Mike Dirnt, football greats Odell Beckham, Christian Kirk, and Kenny Clark, and Equinox founder Lavinia Errico.
Boomerang’s platform addresses the costly problem of lost and found, which sees U.S. consumers spending $5 billion annually replacing lost items. The majority of these lost items are misplaced at businesses, highlighting the need for an effective solution. By consolidating all found inventory onto the Boomerang platform, businesses can join in solving the consumer fragmentation problem, allowing for a seamless recovery experience.
The company has an impressive roster of customers, including Universal Studios, Cleveland Browns Stadium, Nissan Stadium, State Farm Arena, Margaritaville Resort, Encore Resort at the Reunion, The Dalmar, Savannah/Hilton Head International Airport, and Syracuse Hancock International Airport.
Xavier Parkmond of LightShed Ventures praised Boomerang’s comprehensive platform, stating that it solves the bothersome problem of lost and found with sophisticated and cutting-edge technology, turning item recovery into a magical experience. Boomerang’s founders have the experience, prowess, and strategic timing to revolutionize this often overlooked market.
Skyler Logsdon, co-founder of Boomerang, emphasized the importance of helping businesses efficiently return lost items to their customers. He expressed gratitude for the companies that have joined the Boomerang Network to solve the lost and found challenge, noting that the new funding will help the company scale to meet growing demand.
Boomerang’s innovative approach to lost and found has the potential to transform the way businesses handle misplaced items, providing a seamless and efficient recovery experience for consumers. With its latest funding round, the company is poised to expand its reach and enhance its platform, further solidifying its position as a leader in the lost and found space.
You can also see a full list of recently funded startups in USA.