Obligo, a fast-growing leader in the real estate tech sector, has successfully raised $35 million in a funding round co-led by 83North and True Global Ventures. This capital infusion comes at a time of significant growth for the company, driven by new strategic partnerships with prominent property management software firms, including AppFolio, Buildium, and Yardi. The funding will accelerate Obligo’s expansion across millions of U.S. homes, furthering its mission to reshape the rental market with its innovative security deposit solutions.

Fueling Strategic Growth and Innovation

With the injection of new capital, Obligo is well-positioned to expand its offerings and solidify its position in the market. The funds will be directed towards the company’s product development, particularly focusing on innovation driven by machine learning technology. Additionally, Obligo will continue to build its intellectual property (IP) and strengthen strategic partnerships. The company is moving closer to profitability while enhancing its ability to serve the needs of both property managers and renters across the U.S.

Obligo’s growth strategy hinges on its API-first distribution model, which allows property management software providers to easily integrate its deposit-free solutions into their platforms. This approach ensures a seamless user experience for renters and property managers alike, making the process of securing rental properties more efficient, transparent, and flexible.

Confidence in Obligo’s Vision

Roey Dor, CEO and Co-Founder of Obligo, expressed enthusiasm about the funding round, stating, “This investment is a testament to the market’s confidence in our machine learning technology, API-first distribution strategy, and our vision for the future of renting.” Dor emphasized the importance of the company’s partnerships, noting that recent surveys indicate 55% of renters view Obligo as a key factor in choosing their current home. He added, “With these additional resources and our partnerships with leading property management software firms, we are uniquely positioned to become the top deposit solution for millions of U.S. homes.”

Expanding the Board of Directors

As part of the funding round, Obligo welcomes Lilia Shirman, Partner at True Global Ventures, to its Board of Directors. Shirman praised the company’s approach, saying, “Obligo is a game-changer for leveraging machine learning and AI in real estate. The company’s growth and strategic channel partnerships demonstrate the tremendous value they deliver to both renters and property managers.”

Shirman’s addition to the board brings a wealth of experience and expertise in technology-driven businesses, particularly in enterprise AI and blockchain. Her appointment underscores the strategic importance of Obligo’s vision and the potential for continued disruption in the rental market.

Obligo’s Role in Shaping the Future of Renting

Obligo has garnered widespread attention for its innovative approach to security deposits. By eliminating traditional cash deposits, Obligo offers renters a more accessible and affordable way to secure a rental home. This deposit-free model has resonated with property managers as well, providing them with greater flexibility and lowering barriers for potential renters.

The company’s machine learning-powered technology allows for comprehensive tenant screening, offering property owners the confidence they need to forgo traditional deposits without increasing financial risk. This creates a win-win scenario for both parties, simplifying the rental process and enhancing trust in the landlord-tenant relationship.

Strategic Partners and Market Expansion

Obligo’s success is closely linked to its strategic partnerships with industry-leading property management platforms. Recent collaborations with AppFolio, Buildium, and Yardi have enabled Obligo to scale its solutions across a broader swath of the U.S. rental market. These partnerships integrate Obligo’s services directly into the software systems that property managers rely on, making it easier than ever to offer deposit-free renting options.

In addition to its software partnerships, Obligo has gained backing from prominent equity and debt investors, including 10D, Entrée Capital, HighSage Ventures, MUFG Innovation Partners, and Viola Credit. The participation of these investors signals strong confidence in Obligo’s long-term growth prospects and its potential to lead the transformation of the residential rental industry.

Looking Ahead: A New Era for Renting

With this $35 million funding round, Obligo is poised to accelerate its impact on the U.S. rental market. The company’s focus on product innovation, strategic partnerships, and machine learning technology positions it to continue redefining the rental experience for both tenants and landlords. As more property managers and renters embrace the deposit-free model, Obligo is well on its way to becoming the go-to solution for millions of U.S. homes.

Obligo’s recent funding milestone marks a significant step forward in its mission to modernize the rental market. By leveraging cutting-edge technology and strategic partnerships, the company is driving a new era of trust, flexibility, and innovation in real estate. With strong investor support and a clear vision for the future, Obligo is set to play a pivotal role in transforming how renting works across the U.S. in the years to come.