Real estate tech startup Zumper Inc. has raised $6.35 million in funding in a bid to battle for the rental-listing market dominated by Craigslist, the go-to resource for tenants and landlords.
Goodwater Capital led the investment and was joined by Kleiner Perkins Caufield & Byers, both existing investors in Zumper. The company’s total funding raised to date is $14.6 million.
Besides Craigslist, Zumper faces competition from a number of relatively new apartment-finding apps, including ApartmentList, backed by Matrix Partners; RadPad Inc., backed by AltPoint Ventures; HotPads, now owned by Zillow Group ; Cozy Services Ltd., backed by General Catalyst Partners; and Lovely, which focuses on rentals available by owners.
The Series A-1 funding boosts Zumper’s valuation threefold, said CEO Anthemos Georgiades.
The startup plans to use the funding to push its Zumper Pro software and service across the U.S., and to grab more listings from those that offer residential leases on apartments or homes.
The company makes money on paid real estate listings and when brokers, landlords or tenants pay for Zumper to run all the credit score and background checks they need to move ahead with a lease.
Zumper’s mobile and web apps have 1 million monthly active users, according to the company. It currently employs 20 full-time employees and will add 10 with the funding, mostly in marketing and sales roles.
Read the full article about Zumper’s funding, including the company’s valuation and what the company plans to do with the funding, at Dow Jones VentureWire.
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