Zumper Raises $17.6 Million Series B Led by Breyer Capital & Foxhaven Asset Management
San Francisco, CA (PRWEB) October 18, 2016 -- ● Zumper secures $17.6 million Series B funding round led by Breyer Capital and Foxhaven Asset Management. Kleiner Perkins Caufield & Byers (KPCB), Goodwater Capital, Scott Cook (Founder of Intuit), xfund and Marcus & Millichap also contributed.
● Funding will be used to scale rental search platform and introduce new product offerings in early 2017.
● Company revenue grew more than 5x since start of 2016.
Zumper (http://www.zumper.com), the fastest growing home and apartment rental platform in the U.S., today announced it has raised a $17.6 million round of Series B financing, led by Breyer Capital and Foxhaven Asset Management. Existing investors Kleiner Perkins Caufield & Byers (KPCB), Goodwater Capital, xfund, Scott Cook and Marcus & Millichap also contributed to the round. This brings Zumper’s total funding to date to $39.2 million.
The Series B capital will be used to scale Zumper’s core search platform, the largest monthly search audience of any rental startup, and to launch a new and unique service for renters at the beginning of next year. Anthemos Georgiades, CEO of Zumper, elaborated:
“When we started the company, we were only ever interested in building an end to end solution, taking renters from search to close. We spent our first few years laying a solid foundation and now, with 40 million renters using Zumper and PadMapper every year, we’re going to deliver on our original vision.”
“At the beginning of 2017 we will launch a brand new service that sits on top of our search platform. This service will provide renters with the first ever delightful experience for moving apartments,” Georgiades said. “Over the past nine months we have been quietly testing and iterating on this operation in a few U.S. cities, and the results are very, very exciting.”
Jim Breyer, Founder and CEO of Breyer Capital, said “Zumper’s vision of a technology-enabled platform to find and rent homes is reinventing the often painful multi-step rental process. I am thrilled to invest in and partner with the talented Zumper team as they continue to deliver exciting new services and create a seamless rental experience to meet the needs of modern customers.”
In addition to the capital fundraise, Zumper announced other significant milestones achieved over the past year:
- The company’s revenue grew by more than 5x since the start of 2016.
- Zumper acquired rental search platform PadMapper and completely rebuilt its website and mobile applications.
“Technology has dramatically improved the customer experience in so many industries, yet the process of finding rental housing has remained relatively unchanged,” said Chi-Hua Chien, Managing Partner at Goodwater Capital and a Zumper board member. “Zumper is tackling this problem for millions of renters, and is positioned to fundamentally transform the way people find a home. We’re thrilled to join them on this journey.''
About Zumper, Inc.
Zumper is the first end-to-end home and apartment rental platform, taking renters from search through application and close. In addition to its consumer products, Zumper offers rental professionals industry-leading tools to market listings and screen prospective tenants. Since its acquisition of search platform PadMapper in February of 2016, Zumper has grown considerably in both traffic and revenue to become the largest startup in the rentals space.
Zumper, a team of 34, has raised $39.2 million in venture capital funding from investors including Kleiner Perkins Caufield & Byers, Goodwater Capital, Breyer Capital, Foxhaven Asset Management, Andreessen Horowitz, Greylock, NEA, CrunchFund, xfund, Dawn Capital, Marcus & Millichap, Scott Cook, and the DeWilde Family Trust.
For more information, please visit https://www.zumper.com. Or download the Zumper application on your iOS or Android device.
About Breyer Capital
Breyer Capital is a premier global venture capital and private equity investor focused on catalyzing high-impact entrepreneurs around the world. Founded by Jim Breyer in 2006, Breyer Capital makes long-term, idea-driven strategic investments in social media, entertainment media, digital health, financial technologies, data analytics, and artificial intelligence. The firm prides itself on maintaining an openness to experimentation that can lead to long-term breakthrough performance. For more about Breyer Capital, please visit https://breyercapital.com, Breyer Capital on Facebook (https://www.facebook.com/breyercapital), or Jim Breyer on Quora.
Contact
Devin O’Brien (Director of Strategic Marketing)
press(at)zumper(dot)com
Anthemos Georgiades (CEO)
anthemos(at)zumper(dot)com
Devin O'Brien, Zumper, http://www.zumper.com, +1 6463980347, [email protected]
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