Nomad raises $20 million

Nomad, the Colorado-based startup looking to make the home rental market work better for landlords, has raised $20 million in a Series A funding round led by Silicon Valley Bank Capital.

Founded in 2020, Nomad serves the Denver, Boulder, and Phoenix metro areas and its flagship product is guaranteed rent where it guarantees to pay landlords market rent for up to 3 years in exchange for a “small premium.” Originally, property owners that wanted to take advantage of Nomad’s rent guarantee product were required to use the company’s marketing and leasing services but now it is optional.

The company’s marketing and leasing services include listing the property on rental platforms, tenant screening, and more.

Nomad also offers landlord insurance through a partnership with Steadily and it has a renters insurance offering that’s powered by Sure.