Boomerang

Boomerang operates a lost-and-found management platform used by businesses that accumulate large volumes of found items, including airports, hotels and resorts, sports and entertainment venues, and airlines. The software is designed to streamline intake, identification and return of lost property, replacing manual, phone-based processes with an automated, AI-driven workflow. Consumers report a lost item through the platform, which matches claims against found inventory logged by participating businesses.

The company frames its approach around a "Boomerang Network" concept: by consolidating found-item inventory from many businesses onto one platform, it aims to reduce the fragmentation that makes it hard for a consumer to know which organization is holding an item. In travel in particular, responsibility for a lost item can sit with the airport, a security authority, or the airline depending on where it was lost; Boomerang positions a single interface across those parties. The company also positions lost-and-found handling as a driver of customer satisfaction and loyalty rather than a purely operational cost center. Reported customers include Universal Studios, Cleveland Browns Stadium, Nissan Stadium, State Farm Arena, Margaritaville Resort, Encore Resort at the Reunion, The Dalmar, Savannah/Hilton Head International Airport and Syracuse Hancock International Airport.

Founding story

Boomerang was founded in November 2021 by Skyler Logsdon, Philip Inghelbrecht (a co-founder of Shazam) and Augustine Diep-Tran. The idea originated after Inghelbrecht's girlfriend lost a phone at a Las Vegas nightclub and the recovery attempt produced unreturned calls, long waits and no resolution; similar experiences with his daughters losing items at school suggested the problem was routine rather than exceptional. The three founders, together in Cabo, Mexico that weekend, decided to build an AI-driven approach intended to resolve recoveries on the first attempt, drawing an analogy to what Shazam did for music identification. Early cold outreach to airlines and airports drew a personal reply from Delta Air Lines CEO Ed Bastian, who connected the founders to his executive team; those conversations indicated the problem was industry-wide.

Business model

Boomerang sells lost-and-found management software to businesses that handle found property, operating a shared network across venue, hospitality and travel operators; consumers use the platform to locate and recover their items.

Traction

Customers cited include Universal Studios, Cleveland Browns Stadium, Nissan Stadium, State Farm Arena, Margaritaville Resort, Encore Resort at the Reunion, The Dalmar, Savannah/Hilton Head International Airport and Syracuse Hancock International Airport. Recovered items cited include a Rolex watch valued at $16,750. The company reported total funding of $7.7 million as of January 2024.

Latest developments

In January 2024 Boomerang announced a $4.9 million round led by LightShed Ventures, with participation from GGV, SeventySix Capital, Lake Nona Fund, GoldHouse, Harlo Capital and Dream Ventures, plus individual investors including Drake, Mike Dirnt, Odell Beckham Jr., Christian Kirk, Kenny Clark and Lavinia Errico. The company said proceeds would fund team and platform growth.