San Francisco-based rental marketplace Zumper has added $30 million in funding to its Series D round to launch a short-term rental product.
Founded in 2012, Zumper says it is the largest privately owned rental platform in North America with more than 178 million site visits each year. To-date, it has raised more than $178 million from Kleiner Perkins, Goodwater Capital, Headline, Dawn Capital and the Blackstone Group.
With the addition of short-term rentals, Zumper claims it is the first real estate marketplace to offer annual, monthly and nightly options.
Via its platform, which compares more than 500,000 listings from partners including Vrbo and Booking.com, guests can book short-term rental listings at no additional fee. Meanwhile, landlords now have the option to list their properties as short-term to meet growing demand among Zumper users.
According to Zumper research, one-third of the platform’s users say they are interested in flexible rentals. It also finds that 75% of users are booking one to two monthly rentals annually, and 49% remain in one unit between two and six months.
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“Short-term rentals are therefore not just an option for how people vacation, but how they live,” the company says.
"With the traditional short-term rental industry, fees are too high and consumers need to look at a multitude of different websites to find the right listing," says Zumper co-founder and CEO Anthemos Georgiades.
"We want to build the most comprehensive rental platform that enables our renters to easily find the best short-term, monthly or long-term rentals with a product designed for today's far more flexible world."
Zumper joins a cohort of flexible living startups with recent funding: Last week, Landing raised $125 million in Series C funding for its membership-based network of furnished, flexible-lease apartments.
In February, U.K. proptech company Lavanda, in partnership with Aldar, launched a short-term rental platform called Cloud Living that offers stays of from one day to a year.