# Obligo

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/obligo

- Industry: Software
- Headquarters: New York, US
- Website: www.myobligo.com
- Total disclosed funding: $77M
- Latest round: Series B (Oct 21, 2024)
- Investors on record: 11

## About

Obligo, Inc., based in New York, US, offers innovative security deposit alternatives that streamline the rental process for tenants and property managers, enhancing the overall rental experience.Founded in 2017 in New York, Obligo, Inc. specializes in providing deposit-free rental solutions. The company has successfully completed 5 funding deals, with the most recent being in October 2024, during which it raised USD 21.514 mn in a Series B round co-led by returning investor 83 North and new investor True Global Ventures. The founders, Eran Heffetz, Omri Dor, and Roey Dor, have extensive backgrounds in technology and entrepreneurship. The current CEO is Harry Barker, who leads the company towards innovative rental solutions.Obligo provides a flexible security deposit alternative aimed at enhancing the rental experience for both tenants and property managers. The company's core offering allows renters to move into properties without the burden of traditional cash deposits, instead utilizing an electronic system that facilitates instant refunds and certified move-in payments. By employing Obligo's technology, renters can complete the move-in and move-out processes seamlessly via their mobile devices, eliminating lengthy waits for deposit returns. This service is particularly beneficial for the younger demographic of renters who prioritize convenience and speed. Obligo targets various geographical markets across the United States, partnering with trusted property management companies to ensure a secure and efficient rental experience for its clients, who include both renters and property owners.Obligo's revenue model is structured around transactional fees and partnerships with property managers who adopt its deposit alternative technology. The company generates income through a combination of subscription fees from property owners who utilize its platform and transaction fees associated with certified electronic payments. As property managers implement Obligo's services, they can customize deposit-free programs tailored to their needs and incentivize lease renewals, potentially increasing tenant retention and satisfaction. The company's innovative approach to deposit management enhances cash flow for property owners while renters benefit from a streamlined and cost-effective solution, creating a mutually beneficial relationship. The precise pricing structure and specific revenue figures remain undisclosed, but the emphasis is on providing value through efficient financial transactions in the rental market.In October 2024, Obligo, Inc. raised USD 21.514 mn in Series B funding to enhance its strategic alliances, develop new products, and strengthen its intellectual property. This funding will support plans for creating innovative rental solutions that cater to emerging market needs. Obligo is focusing on expanding its footprint within the United States, targeting new partnerships with property management firms to broaden its service offerings. The company is also exploring opportunities to enhance its platform technology, aiming to launch new features that will further simplify the rental process for users.

## Funding rounds

- Series B, Oct 21, 2024, $22M — Viola Group, True Global Ventures, Entree Capital, 83 North, MUFG Innovation Partners, HighSage Ventures, 10D
- Series B, Nov 4, 2021, $35M — Entree Capital, Alumni Ventures Group, 83 North, La Maison Partners, MUFG Innovation Partners, HighSage Ventures, 10D
- Series A, Nov 18, 2020, $16M — Viola Credit, Entree Capital, 83 North, 10D
- Seed, Jun 5, 2018, $5M — Entree Capital, 83 North, HFZ Capital Group

## Investors

- Entree Capital (https://capitalatlas.ai/funds/entree-capital) — Seed, Series A, Series B
- 83 North (https://capitalatlas.ai/funds/83-north) — Seed, Series A, Series B
- HFZ Capital Group — Seed
- Viola Credit — Series A
- 10D (https://capitalatlas.ai/funds/10d) — Series A, Series B
- Alumni Ventures Group (https://capitalatlas.ai/funds/alumni-ventures-group) — Series B
- La Maison Partners (https://capitalatlas.ai/funds/la-maison-partners) — Series B
- MUFG Innovation Partners (https://capitalatlas.ai/funds/mufg-innovation-partners) — Series B
- HighSage Ventures (https://capitalatlas.ai/funds/highsage-ventures) — Series B
- Viola Group (https://capitalatlas.ai/funds/viola-group) — Series B
- True Global Ventures (https://capitalatlas.ai/funds/true-global-ventures) — Series B