September 20, 2018
Foley Hoag LLP advised apartment rental search platform Zumper Inc. in its $46M Series C financing led by Axel Springer and Stereo Capital, with participation from Blackstone and existing investors Dawn Capital, Kleiner Perkins, Breyer Capital, Scott Cook, Goodwater Capital and xfund. The financing brings Zumper’s total funding to $90M to date. Zumper plans to use the funds to build out an end-to-end platform, a new website, and iOS and Android apps.
San Francisco-based Zumper is the largest residential rental startup in the United States. Leveraging proprietary data, Zumper’s platform and algorithm uses machine learning to predict prices for rental properties, provides recommendations on how to price properties and confidently recommends rentals based on search history. The company’s mission is to transform the renting process with new product rollouts including the development of a booking feature, enabling anyone to pre-qualify, reserve and book an apartment or home for rent instantly.
Foley Hoag attorneys Patrick Connolly and Mark Potash advised Zumper in the transaction, with support on key points from Teresa Martland, Earl Mellott, Erica Rice, Abigail Roy and Jason Roche.