Total amount raised
$180.3 Millions
Latest funding date
08/01/2022
Location
Zumper has successfully raised significant funding over multiple rounds, positioning itself as a key player in the rental property market. The platform offers a comprehensive solution for finding rental properties, including houses, condos, and apartments.
Keep reading to explore the intricacies of Zumper's fundraising journey and the investors backing this innovative platform.
What Is Zumper?
Zumper is a rental platform that helps users find houses, condos, and apartments for rent. Founded in 2012 in San Francisco, the company aims to simplify the rental process with comprehensive listings and useful resources.
The platform was co-founded by Anthemos Georgiades, Taylor Glass-Moore, Russell Middleton, and Leah Jones. Zumper offers a seamless experience for both renters and landlords, ensuring verified listings and peace of mind.
With a dedicated team of over 200 employees, Zumper continues to innovate and expand its services across the U.S. and Canada, making it easier for people to find their next home.
How Much Funding Has Zumper Raised?
- Series A Round
- Amount Raised: $6.5 million
- Date: Approximately a year before June 25, 2015
- Lead Investors: Goodwater Capital and Kleiner Perkins Caufield & Byers
- Motivation Behind the Round: Initial growth and development of the platform
- Series A1 Round
- Amount Raised: $6.4 million
- Date: June 25, 2015
- Lead Investors: Goodwater Capital and Kleiner Perkins Caufield & Byers
- Motivation Behind the Round: To grow the team and further develop Zumper Pro
- Series B Round
- Amount Raised: $17.6 million
- Date: October 18, 2016
- Lead Investors: Breyer Capital and Foxhaven Asset Management
- Valuation at Round: Just north of $100 million post-money
- Motivation Behind the Round: To scale and improve Zumper's core search product and launch a new product to assist renters throughout the entire rental process
- Series C Round
- Amount Raised: $46 million
- Date: September 18, 2018
- Lead Investors: Axel Springer and Stereo Capital
- Valuation at Round: Over $200 million but under $300 million
- Motivation Behind the Round: To enhance services for renters and landlords and continue national growth
- Series D Round
- Amount Raised: $60 million
- Date: March 10, 2020
- Lead Investors: e.ventures
- Valuation at Round: Between $400 million and $600 million
- Motivation Behind the Round: To expand its footprint in the US, build out its platform, and develop more tools for its two-sided marketplace
- Additional Series D Round
- Amount Raised: $30 million
- Date: August 25, 2022
- Lead Investors: Kleiner Perkins, Goodwater Capital, Headline, Dawn Capital, and the Blackstone Group
- Motivation Behind the Round: Expansion into short-term rentals
Total Amount Raised: $166.5 million
Current Valuation: Between $400 million and $600 million
Key Investors
- Kleiner Perkins
- Details: Kleiner Perkins is a renowned venture capital firm that has been investing in early-stage and growth companies for decades. They are known for backing some of the most successful tech companies in Silicon Valley.
- Investment Focus Areas: Technology, life sciences, sustainability
- Notable Investments: Google, Amazon, Twitter
- Goodwater Capital
- Details: Goodwater Capital is a venture capital firm that focuses on consumer technology companies. They aim to support innovative startups that have the potential to transform consumer experiences.
- Investment Focus Areas: Consumer technology, fintech, healthtech
- Notable Investments: Musical.ly (now TikTok), Stash, Weee!
- e.ventures
- Details: e.ventures, originally started as BV Ventures, is the strategic VC arm of publishing giant Bertelsmann. They have a global presence and invest in technology-driven companies.
- Investment Focus Areas: Digital media, consumer internet, enterprise software
- Notable Investments: Farfetch, Groupon, Sonos
- Axel Springer
- Details: Axel Springer is a major European digital publishing house with a strong presence in media and classifieds. They have been expanding their digital portfolio through strategic investments.
- Investment Focus Areas: Digital publishing, media, classifieds
- Notable Investments: Business Insider, StepStone, Awin
- The Blackstone Group
- Details: The Blackstone Group is a leading global investment firm that manages assets across various sectors. They invest capital on behalf of pension funds, large institutions, and individuals.
- Investment Focus Areas: Private equity, real estate, credit
- Notable Investments: Hilton Worldwide, Merlin Entertainments, Refinitiv
What's Next for Zumper?
Zumper's future looks promising as it ventures into the short-term rental market, aiming to capture a share traditionally dominated by platforms like Airbnb. With over 178 million annual visits, the potential for growth is substantial. The company plans to enhance its digital tools and user experience, offering a seamless app experience and aggregating inventory from multiple partners.
Given these opportunities, Zumper may seek additional funding to further develop and scale its offerings. Future fundraising rounds could support technological advancements and expansion into new markets. However, challenges such as competition from established platforms and regulatory changes in the short-term rental market may pose hurdles along the way.
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