SAN FRANCISCO – March 3, 2014 – Zumper, the home and apartment rental search platform, today announced that it has closed a Series A round of funding from Kleiner Perkins Caufield & Byers (KPCB), with seed investors including NEA and Dawn Capital also participating in the round. Chi-Hua Chien, who led the initial seed investment round from KPCB, will join Zumper’s Board of Directors.
Zumper is focused on building the first ever end-to-end platform for home and apartment rentals across both mobile and web, and will use the funding to accelerate and accommodate growth. The company has seen extraordinary growth since it launched in 2012 with seed capital from KPCB; NEA; Andreessen Horowitz; Greylock; CrunchFund; Dawn Capital; The Experiment Fund; and the deWilde family trust.
Zumper’s CEO Anthemos Georgiades commented: “We built Zumper to increase the speed & efficiency of the apartment rental process for both renters and real estate professionals, and we spent our first year and a half getting the fundamental user experience right. But we have a much bigger vision, which this funding will help accelerate: to power the apartment rental process from end to end. Zumper will become not just a destination for renters to search for their next apartment, but the platform from which they will schedule appointments and apply for their new home, all from their phones. On the other side, our thousands of landlord and broker users will be able to generate, manage & then close all their tenant leads through the Zumper Pro ecosystem, whether on iPhone, Android or web.”
The volume of rental listings powered by Zumper Pro, Zumper’s mobile-first B2B product, has grown at a rate of over 25% month on month since the product launched in April 2013, with thousands of landlords, agents and property managers now using Zumper Pro to power the marketing and distribution of their rental listings, whether on the go or from their desks. Zumper Pro now powers a significant percent of the inventory in several of the US’ largest rental markets.
Zumper’s consumer search platform has grown from just two launch markets to encompass the whole of the US, enabling renters to browse over 500,000 active rental listings. Zumper’s consumer iPhone app was featured by Apple on the front page of the App Store when it launched in August 2013.“Zumper epitomizes the power of harnessing the intersection of the social, mobile, local web,” said Chi-Hua Chien, Partner, KPCB. “Led by Anthemos, the Zumper team is an extraordinary group of entrepreneurial talent bringing together real estate, business, and engineering disciplines to transform the apartment rental experience for the entire rental real estate ecosystem.”