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Anthemos Georgiades: Yeah. We love our investors. After that, it changed to more consumer. So the series B, weve done story now look at how quickly the renters are growing on the platform. Anthemos Georgiades: Its part of the game. Russell Middleton Co-Founder. How did you find these investors? So the majority of that is still in the bank but yeah, we raised money in capital [12:00]. Anthemos Paul Georgiades has been associated with one company, according to public records. Anthemos Georgiades: Its just part of the game and it doesnt [24:30]. And then as we looked at the C round, Axle Springer are fantastic good example [19:59]. I think its easy not to set those expectations and get caught in the relationship where neither side is being clear on what they expect. Thank you so much. You look at your cofounders and you know that they understand that and that theyre not freaking out, that is where you build real institutional culture and then you try and grow that across the team. And at one point I just told one I just feel like I want to step on the egg and shoot the chicken because it was so repetitive. Thats quite motivating for people. How many listings do we have on the site? We raised like a million dollars in seed money, that was running out so we tried various things that didnt work and I think the fabric of our culture that is still true today when we have a hundred people is built in the dark days and those days where your stuff is not working, your users arent growing, and how you look at your teammates and how you guys turn up on a Monday morning after a really crappy week the week before where maybe someone quit or maybe the metrics went south. I say like in the first pitch to the day the money wires, theres always been around like a minimum of three months. Alejandro: Got it. I grew up in London. Anthemos Georgiades is co-founder & CEO of Zumper, the largest startup in the rental industry. Yeah. So yes, we have a great cap table. After that, it changed to more consumer. Additionally, Anthemos Georgiades has had 2 past jobs including Consultant at The Boston Consulting Group. A lot of business schools was how to make decisions with imperfect information. Since 2012, Georgiades has grown Zumper to over 200 employees, 178 million annual visits, and raised $178 million in venture capital for the company. And the biggest change in the series C I just raised versus in the early days is having a CFO. Alejandro: Just out of curiosity, Anthemos, like how many nos did you get for example on your seed round if you have to count it? Obviously they knew and I think for us it was like telling Axle and the rest of our investors that there are going to be months where we massively beat plans and there will be months where were behind plans. So our CFO is fantastic and what he was able to bring to the series C was real credibility where I meet the investors, get them excited about our vision and our story and then they spend hours with the CFO on the second or third meeting digesting our historical financial as were talking about where were headed. They are the two ways that Zumper currently monetizes them and there are two folks that [11:35]. Anthemos Georgiades is the co-founder and CEO of Zumper, the largest startup in the rental industry, used by more than 26 million renters last year alone. Alejandro: Got it. So I guess without further ado, Anthemos Georgiades from Zumper, welcome aboard. We want investors who look at $100 million in revenue as table stakes but they wont agree to a billion. So you kind of just have to [25:29] but just to be clear yeah, we had far more nos than yeses at the seed round. The other large investor in this round [20:05] scale so once you have product market set, how do you scale that? How does the day to day at Zumper work? Anthemos Georgiades: Yeah. This show is about storytelling and all the elements that go into telling the perfect fundraising story. How Zumper founder created software to solve the pain of apartment So I saw NEA, Kleiner Perkins, Graylog, Andreesen Horrowitz, just to name a few. So seed, series A, series B, series C, I was always the point person in the fundraise. All of it is going to be important and it will come out at the right stage. Anthemos Georgiades is the co-founder and CEO of Zumper. Since 2012, Anth has grown Zumper to over 100 employees and raised $90 million in venture capital for the company. It was not something Ive really ever thought about before. At series A, you got to show product market set in a sub vertical. Thats just part of the game. Then behind the scenes, Zumper will close the transaction with the landlord and set the renter up with kind of rent payment. Like many of our most successful entrepreneurs, Anthemos Georgiades was drawn into startup life to solve a burning problem. If you guys are Zumper website, you can kind of kind at zumper.com the Contact Us or on Twitter I am just @anthemos, A-N-T-H-E-M-O-S on Twitter and yeah, I respond to people. So I guess lets say we had the opportunity to put you in front of your younger self, Anthemos, in 2012 before you were to close that seed round, what would be that piece of advice that you would give to your younger self with everything that youve learned having this journey ahead of you? Zumper CEO & Co-Founder Anthemos Georgiades makes renting an apartment as easy as booking a hotel, shares insights on monetizing marketplaces, diversifying r. And then when I moved out to America, Russel was software engineer at Google and I had no technical background so I basically hit up my network for anyone with a technical background living in the US who might be interested in joining and Russel and I really hit it off and he was the perfect cofounder. Anthemos Georgiades (Zumper) | Startup Grind Published by at June 13, 2022. Anthemos was an undergrad at Oxford when he noticed how problematic renting an apartment . I'm so proud of my wife Lucy Georgiades and her cofounder Lindsey Nehls on launching their business Elevate Academy today. And so I didnt really think about it too often because this is kind of 15 years ago but then I moved to another six or seven times into an apartment rentals in London, in Boston, in New York and the process is so bad every time, not just in searching but also in actually like getting the apartment. Were incredibly grateful for everything she did and she remains kind of shareholder in the company. I met Russel who [04:01] engineering products through just the personal connections in London. I mean your job moves from doing jobs in the first few years. Whats your story and most importantly, how did you get started with the entrepreneurial bug? For me, its Zumper, an apartment rental platform. Anthemos Georgiades: Yeah. Fantastic. I mean I called it like a cheat [33:33] my team. His passion for relieving the stress for others in apartment rentals has given birth to a venture which has now raised $90 million, has experienced tremendous growth, and boasts a VC line up of some of the most prized investors in Silicon Valley. Culture is everything and so investing in people making sure I as the CEO spend a lot of time as much as possible with people who dont report to me is absolutely critical and that is ultimately like the fabric on how most companies are run. You always have more nos that more yeses in fundraising but it was ultimately about just hustling my network as much as possible. Youre right that is wrong advice. I mean youre doing various jobs, head of sales, head of finance, head of fundraising, head of like DZ. 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Now we have supply so the six months curve at the series B was all about users and millions of monthly users and then at the series C it was much more revenue curve. I knew the CEO for a while. Prior to his work at Zumper, Georgiades worked at the Boston . In the early days you as the CEO you are the fundraiser, you are the effective CFO, youre the head of sales and you kind of have to do the whole thing. He's raised $39.2 million in venture capital, grown the team to 70+, and completed the acquisition of apartment search platform PadMapper. Zumper CEO and co-founder May 2012 Board and Advisor Roles Number of Current Board & Advisor Roles 1 Anthemos Georgiades is the Board Member at Zumper. You can set the expectations and then see what happens and if its not a good fit upfront, you can go with the different option on the table. Anthemos Georgiades | Multifamily Executive Magazine Unluckily weve made some phenomenal early hires so the company that have all scaled to leadership roles, thats fantastic for retention because those people know that we could have hired from outside but we bet on them and it worked and so Zumper is a place to build theyre career not somewhere else. It was incredibly difficult. It looks better for investors and it makes your life easier. They take every, some people go and warm theirif you have a brilliant idea, theyd be crazy not to take it and then their entire value is obviously give you a three month program and then at the end expose you to liek 40 investors. We love our investors. Dave Costantino Staff Engineer - Backend. I think if you hire four cofounders like yourself, thats difficult and luckily we didnt have that problem. Over time, its great to be able to bring in your team. Georgiades founded Zumper after his own . And so when you think about AB testing frameworks, you think about how many started [03:43] that is a [03:44] grad school taught me. "While many markets cool off during the winter, Miami is still posting month-over-month increases. So I guess for a marketplace or lets say for the people that are listening to us like what kind of metrics do you think for the most part if were talking about hyper growth companies, like they should be a little bit more mindful about? So in terms of timeline, you were mentioning that the C round, you guys closed this 46 million a couple of months ago. Alejandro: Got it. One is I wouldnt be too pressured about it too early. It was at the time Pat Mapper example almost the same size on consumer but now Zumper is much bigger but we called it like a cheat and your job as the founder is to identify like vertical cheats where overnight you become bigger than your competitors. So I guess in your guys case, how do you deal with the egos and then more importantly how did you define the responsibilities early on so that you kind of have that healthy culture going on? There could be investors who are fantastic. Hes raising money now. Make sure tenants understand why things are . Theyre struggling to kind of grow their audience because they didnt have enough listings whereas Zumper at the getgo we had a lot of unique landlords on the platform that no one else had. At the end of the day though, whether its senior people, junior people, interns who we want to bring back is all under pinned by culture. I was also doing, Ive been doing marketplaces for I think like 10 years now and I remember in the last company, I would go and meet with investors and they kept asking me for the chicken and the egg. For every successful fundraise, every single company have a lot of nos. Got it. Think Masterclass for Management. So I guess lets say we had the opportunity to put you in front of your younger self, Anthemos, in 2012 before you were to close that seed round, what would be that piece of advice that you would give to your younger self with everything that youve learned having this journey ahead of you? Alejandro: Got it. I really enjoyed it and great stuff. It is your job not just to do the day to day but once or twice a year you should be doing stuff that has a completely linear outcome where one day youre doing you know 3 million users a month and the next day youre doing 5 million users a month. One is I wouldnt be too pressured about it too early. So our CFO is fantastic and what he was able to bring to the series C was real credibility where I meet the investors, get them excited about our vision and our story and then they spend hours with the CFO on the second or third meeting digesting our historical financial as were talking about where were headed. Unluckily weve made some phenomenal early hires so the company that have all scaled to leadership roles, thats fantastic for retention because those people know that we could have hired from outside but we bet on them and it worked and so Zumper is a place to build theyre career not somewhere else. We saw it would take three to six months to integrate Pat Mapper and their backend that engineering project we worked really hard and quickly just over a year to integrate so we underestimated like how much work was required to integrate them by 3x.