Zumper, San Francisco-based home and apartment rental platform, acquired PadMapper, a platform in the online rental space. Zumper will continue to run PadMapper as a fully owned subsidiary. Zumper has raised $20.2 million in funding from investors including Goodwater Capital, Kleiner Perkins Caufield & Byers, xfund, Andreessen Horowitz, Greylock, New Enterprise Associates and others.
Zumper, the fastest growing home and apartment rental platform in the U.S., today announced that it has acquired PadMapper, a leading platform in the online rental space. Zumper will continue to run PadMapper as a fully owned subsidiary. Padmapper CEO Eric DeMenthon and CTO Rob Crowell will join Zumper.
The move positions Zumper as the fifth most trafficked rental platform in the US with 4 million visitors this January, and an expected 67 million visitors in 2016 across both web and mobile. Furthermore, the Company expects to be profitable by the end of the second quarter of 2016, achieving several million dollars annually in revenue.
Zumper’s combined platform will provide renters the single best source for inventory in major US markets including New York City, San Francisco, Chicago, Los Angeles, Washington DC, and Boston.
Anthemos Georgiades, CEO of Zumper, said: “We are thrilled to welcome Eric and Rob to the Zumper team, and excited to continue the legacy of one of the most trusted brands in online real estate”.
PadMapper launched in 2009 as the first map-based search platform in the US and Canada. The Company offers hundreds of thousands of listings to renters and a suite of tools for rental professionals.
Eric DeMenthon, CEO of PadMapper, commented on the acquisition: “We are really excited to be joining forces with Zumper – we have a very similar vision of what will make the home rental process less awful, and together, we have a much better chance of making that vision a reality.”
“Together, Zumper now becomes one of the largest players in the rental space, bringing us one step closer to our vision of bringing the ease of hotel booking into the apartment rental industry”, Georgiades said.
About Zumper, Inc.
Zumper, based in San Francisco, is the first end-to-end home and apartment rental platform, taking renters from search through application and close. In addition to helping consumers, Zumper offers rental professionals industry-leading tools to market listings and screen prospective tenants.
Zumper, a team of 29, has raised $20.2 million in venture capital funding from investors including Goodwater Capital, Kleiner Perkins Caufield & Byers, xfund, Andreessen Horowitz, Greylock, NEA, CrunchFund, Dawn Capital, Marcus & Millichap and the DeWilde Family Trust.