Zumper, the US-based operator of an online marketplace for rental properties, has received $46m in series C funding from investors including media group Axel Springer.
The round also featured Stereo Capital, Blackstone, Dawn Capital, Foxhaven Asset Management, Kleiner Perkins Caufield & Byers (KPCB), Breyer Capital, Goodwater Capital, Xfund and angel investor Scott Cook.
Zumper runs an online platform with 8 million visits each month that enables users to search for apartments to rent. It also provides tools for landlords, such as predictive algorithms that recommend pricing.
The funding will support the introduction of a system that allows renters to achieve pre-qualification and reserve properties through the platform. Zumper also intends to increase the headcount at its San Francisco headquarters by another 50.
The company said the round increased its total funding to $90m, and a source told TechCrunch the valuation was more than double the $100m valuation at which Zumper last raised funding, in late 2016.
The 2016 round was a $17.6m series B that was co-led by Breyer Capital and Foxhaven Asset Management and backed by real estate services provider Marcus & Millichap, KPCB, Goodwater Capital, Xfund and Scott Cook.
Zumper’s earlier investors include Andreessen Horowitz, Greylock Partners, New Enterprise Associates, CrunchFund and the DeWilde Family Trust.
Anthemos Georgiades, Zumper’s co-founder and chief executive, said: “After moving apartments seven times in my 20’s, it was clear the rental industry was ripe for change.
“Zumper is well on its way to reshaping the way both consumers and landlords interface with rentals. We will make it as easy as a single click with our ‘Book Now’ platform rolling out in the coming months.”