Investments

US Rental Marketplace Zumper Closes On $60M Series D Round

Anthemos Georgiades, CEO of Zumper.

Zumper, a rental marketplace looking to streamline the process of renting an apartment, closed $60 million in a Series D funding round and now boasts a total of $150 million, according to a press release.

The firm’s funding round was led by e.ventures. Zumper said it will use the money to grow its sales and engineering teams, as well as invest in boosting its particular tools for end-to-end transactions.

Zumper uses technology to connect landlords with renters throughout the process of renting an apartment, according to the release.

Mathias Schilling, co-founder of e.ventures, called Zumper’s progress “striking” and said the company was poised to offer “great value” for both renters and landlords of multi-family properties.

The company launched in 2012, and since then, it has accumulated a base of 80 million people a year who use the site to find, list and rent properties in the U.S. and Canada. The site has a 100 percent year-over-year revenue growth and has expanded its employee base to 200 people in offices in San Francisco, Scottsdale, New York, Chicago and Rhode Island.

Zumper is also a resource for those looking at renter data, with millions of listings advertised and analyzed every month, the release stated.

Zumper CEO and Co-Founder Anthemos Georgiades said the company was formed in order to build the first online resource for apartment rentals. Georgiades said renting an apartment should be as simple as walking into an open house, leaving a deposit for the landlord, and then paying rent to the same landlord, all through one platform.

Zumper also uses a digital system for making rent payments.

Photos from the press release depict the Zumper app, showcasing a map function displaying various apartments, a feature to filter out listings by price and other factors, and detailed listings of the makeup of a place, including whether pets are allowed and the number of bedrooms.

Zumper is not alone in the digital apartment-hunting business, as it is among the many features of daily life being moved online.

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