Boomerang, a prominent Lost & Found service based in Miami, recently announced a successful funding endeavor, accumulating $4.9 million. This funding effort was primarily driven by the New York-based LightShed Ventures, with significant contributions from several notable firms including GGV, GoldHouse, Harlo Capital, Dream Ventures, Lake Nona Fund, and SeventySix Capital. This latest financial boost elevates Boomerang’s total capital to $7.7 million.
The company has also garnered support from several renowned individual investors. These include celebrated musicians Drake and Mike Dirnt from Green Day, illustrious football players like Odell Beckham of the Baltimore Ravens, Christian Kirk of the Jacksonville Jaguars, and Kenny Clark from the Green Bay Packers, along with Lavinia Errico, the founder of Equinox.
Skyler Logsdon, one of Boomerang’s co-founders, expressed that the new funds will significantly contribute to the expansion and enhancement of both their team and platform. “We’re expanding rapidly, and these funds are key to meeting our growing demand,” Logsdon stated.
Xavier Parkmond, representing LightShed Ventures, highlighted the universal and frustrating experience of losing personal items, underscoring the lack of effective solutions. “Boomerang is innovating in this space with advanced technology, making the process of recovering lost items almost magical,” he noted. Parkmond praised the Boomerang team for their expertise and strategic vision in transforming this market.
Boomerang, established in November 2021 by Skyler Logsdon, Philip Inghelbrecht, and Augustine Diep-Tran, aims to address the significant challenge of lost items, a problem that costs U.S. consumers around $5 billion yearly in replacements. “Our primary focus is on aiding businesses to efficiently return lost items to their customers,” Logsdon emphasized.
The company boasts an impressive list of clientele within the Boomerang Network. This network includes high-profile entities such as Universal Studios, Cleveland Browns Stadium, Nissan Stadium, State Farm Arena, Margaritaville Resort, Encore Resort at the Reunion, The Dalmar, and airports in Savannah/Hilton Head and Syracuse Hancock, among others.
Logsdon expressed gratitude towards the various businesses that have joined the Boomerang Network. “The most challenging aspect of losing something is the uncertainty of its location. By integrating all found items onto our platform, we’re helping businesses tackle this fragmentation, offering a streamlined recovery experience through Boomerang, the leading platform in the Lost & Found sector,” he concluded.
