Boom company update - Recap: 2024 Q3 - 2024 Q4
Our January product launch: BoomScreen … and a recap of the past two full quarters.
Hi folks!
2025 is off to an exciting start! Before we dig in and recap the last two quarters of 2024, we want to highlight a huge milestone from last mon💥th: the public launch of BoomScreen! 🚀
We’ve been building BoomScreen for the past 1.5 years, in early 2024 we began onboarding property managers onto the platform. By selectively rolling out the product before its public launch last month, we were able to gather feedback from our early adopters and optimize BoomScreen’s functionality and performance. Today, we’re onboarding property managers across asset types (manufactured housing, SFR, multifamily, student housing), integrated with 5 property management systems with more on the way—including an exclusive partnership with a leading PMS (announcement coming soon).
BoomScreen is a tenant screening solution that features configurability to meet the diverse needs of today’s property owners and managers. As complexities around tenant screening continue to evolve—new compliance regulations, jurisdiction-level nuances, fee caps, etc.—the market has lacked a screening tool flexible enough to fairly and accurately evaluate prospective tenants.
If you haven’t already, check out and share our product launch announcement, Inman’s coverage of the launch, and my write up on Why We Built BoomScreen. Learn more about BoomScreen on our website.
Progress in Q3’24 + Q4’24
TLDR: Our newest product—BoomScreen—is here 💥 Prior to the public launch last month, we began selectively selling and onboarding partners on BoomScreen and have seen a really great adoption rate. In the last half of 2024, we rebranded and redesigned our website, built out our product, engineering, and operations teams to keep up with demand, and continuously released new features and optimizations.
Two of our biggest accomplishments we’d like to highlight:
First, we completely rebranded and redesigned our website! Our company, team, and product offering have grown significantly over the past four years, and it was about time our brand and website reflect how far we’ve come. Our new brand is product-centric. We believe that our strongest differentiator in the marketplace is our software and we wanted it to be at the forefront of our new website and brand.
If you haven’t already, check out our website upgrade, the announcement of this new chapter, and my writeup on Boom's Rebrand Process.
Second, BoomScreen adoption has been increasing exponentially MoM. This growth can be attributed to a few things—word of mouth referrals, our sales and marketing playbooks, our excellent customer support team, and the pace of engineering releases. But we’ve still got a long way to go when it comes to product enhancements and feature developments.
Some of our other accomplishments from Q3’24 + Q4’24:
Product optimizations and feature additions based on customer feedback → Our collaboration with our current customers has led to high-value product feature additions including:
Flexibility to run screening verifications automatically, manually, or conditionally based on upstream triggers
Rule-based or score-based custom criteria setup to evaluate completed applications
Recommendation explanations for completed applications
A mobile version of the Boom Platform
Cross-industry partnerships and collaborations → Last year, we closed a couple of large partnerships with industry leaders in FinTech and property management software. We’re looking forward to publicly launching them this year, but I want to highlight the trust building we’ve been able to accomplish so far. In addition to these two deals, we have other PMSs looking to embed our solutions into their platform as well as referral partnerships with leading PropTech companies.
We brought on two new key hires in our Austin HQ → Our first Account Manager, Amanda Payne, and Product Manager, Aviv Florenthal, have hit the ground running to collect customer feedback, seamlessly onboard partners, and add to our product roadmap. Up next: we’re hiring another Account Manager and Product Manager to join them, more on that below.
Our customers continue to be our biggest advocates → In 2024, we published numerous case studies, collected testimonials, and even filmed some video testimonials (to be published soon!). These pieces of content, along with customer referrals, continue to be great lead sources for us as well as credibility-builders for the Boom brand.
Our Yardi interface announcement went live! → With each new integration we add, we unlock a new set of prospective customers. Although we were live with Yardi prior to this announcement, it was great to take advantage of the opportunity to promote it.
Carl and I were on the road a lot in Q3 + Q4 → We made great connections across manufactured housing, student housing, SFR, and multifamily. We also made sure to set up customer appreciation dinners in as many cities as we could. Special thank you to Jordan Muela and the LeadSimple team for inviting us to speak on their technology panel at LSU in December!
PMI franchise success, validating the importance of referrals → In the last half of 2024, we onboarded 20+ PMI franchises onto Boom. We are seeing success like this in niche markets within the property management industry—PMs trust their colleagues' opinions and referral programs are an initiative we will be prioritizing this year.
What else is on our mind …
Regulations around rent reporting and tenant screening in California continue to evolve. One big topic of focus for us last year was CA AB 2747—a new law that will go went into effect on January 1, 2025. This bill requires property managers with 15+ units to offer on-time only rent payment reporting to their renters by April 1, 2025 (and annually thereafter), an initiative to help California renters build credit. However, there have been misconceptions about the new bill and its implications. I wrote my thoughts on it on LinkedIn, check out my full write up.
Ask: referrals for open roles
We’re currently hiring for three roles in our Austin, TX HQ. Please send us any leads in your network, more details on each below as well as pre-filtered LinkedIn searches for your network:
What could be better
Starting to see the effects of scale – At the end of 2024, we observed one of our key tables in our BoomScreen product was slower to load than previously. This is the early signs of scale. We implemented some immediate fixes and have more planned in 2025, with additional levers to pull that will likely require deeper architectural work.
Need to expand the team quickly to accommodate growth – We are quickly expanding our teams across departments to keep up with new customer onboardings and feature requests. Today, we are almost at capacity, but do not want to slow down sales, onboardings, or feature development.
We’re getting back on the road …
Carl and I attended some great events in January including our first PM Systems Conference as well as the Louisville Manufactured Housing Show and NMHC Annual Meeting. Next up, we’ll be heading to these conferences—look out for us and/or let us know if you want to meet up in any of these cities:
NARPM North Carolina Conference (Feb 26-27) | Raleigh, NC
Greater Cincinnati and Northern Kentucky Apartment Association Trade Show (March 11) | Cincinnati, OH
Rent Manager Integration Expo (March 18-19) | Cincinnati, OH
NARPM Broker/Owner Conference (March 24-27) | Colorado Springs, CO
NRHC Industry Leaders Conferences (April 6-9) | Orlando, FL
InterFace Student Housing (April 9-11) | Austin, TX
MHI Congress & Expo (May 5-7) | Orlando, FL
What’s next
Key feature releases → We’re excited to release some new features for BoomScreen and BoomReport as well as additional PMS integrations.
Key customer launches → We will be launching some big partnerships in the first half of 2025—stay tuned!
Team offsite → We’re going international for our first full-team offsite in two years! We’re looking forward to the in-person collaboration and the chance to meet our teammates for the first time IRL.
Thank you!
Rob and Kirill
P.S. You’re receiving this email because you’re either a Boom investor, an investor we’ve interacted with in the past, (potential) customer, (potential) partner, or another friend of Boom. ~4 emails per year, unsubscribe at any time, no hard feelings!
P.P.S. Despite our busy schedules, we still make time to have some fun! Here are some highlights from Q3 + Q4.
