Zuma takes in fresh capital to convert your next apartment tenant lead into a contract – TechCrunch

Looking for a new apartment is either something relaxed or something that needs to happen pretty quickly. When you are not reaching out to anyone in the leasing office, you usually move on to the next on the list, even if it was one you would consider.

Zuma Want to ensure that every request for information will be answered within minutes versus days. Today, the company, which adds artificial intelligence to sales involvement, stepped out of its beta phase with $ 6.7 million in lime funding led by Andersen Horowitz.

The company was founded by CEO Shiv Gettu, a former real estate consultant, and President Kendrick Bradley, a former Boeing and SpaceX engineer who left his job in 2018 to work for an asset management company. Both saw the pain points of real estate sales teams and together built Airbnb’s technology-driven hosting company, which grew to $ 2 million in revenue within nine months.

When the global epidemic hit, they had long-term rental commitments, but with the cessation of business and leisure travel, they turned their company into a virtual AI leasing firm to automate the conversion process, which became Zuma, Gettu said in an interview.

He cited statistics that showed a Most real estate carriers Tend to arrive at night and on weekends, when leasing agents are not usually at the property, and the response gap of the wait until the next business day can explain a decrease of 100 times after half an hour.

Zuma app. Photo credit: Zuma

The agent operated by Zuma’s artificial intelligence, Classic, answers complex questions about a property as it enters, and via text message, to encourage every hot hand to become an ordering customer, even outside of normal business hours. It also brings an aspect of the human-in-the-loop, if the questions are beyond Kelsey’s ability to respond.

“We understood the value of leads and the importance of nurturing them,” Bradley told TechCrunch. “Text messages communicate with potential customers immediately. If you are interested in the apartment, you may not hear back for 48 hours, but Zuma integrates with property management tools and when a leader asks, Kelsey gives them information about the property and the policy with the idea they will enter the property. See the property And sign a lease. “

Since January, the company has grown 10 times in revenue and works with clients like Bungalow.com, who see an average increase in conversion rate of 2.1 times in 30 days and 35 times the return on investment, while saving 50% on average sales. Personnel costs.

Andrisen Horowitz’s investment was joined by Y Combinator, Range Ventures, Liquid 2, Day One Ventures, Soma Capital and a group of individual investors, including Apartment List co-founder Chris Erickson, former CO C Yomombinator Qasar Younis and Lambda School founder Austen Allred. The latest round of funding gives Zuma a total of $ 7.2 million raised so far.

Gettu says the company has reached a good pace with its initial product, so the new capital will go into new features, recruiting and expanding sales to conquer the market. Zuma is also looking to apply its business model in other industries with sales teams, such as healthcare, automotive, insurance, education and fashion.

“Zuma’s combination of human support and artificial intelligence creates a magical conversation experience for potential customers that drastically increases conversion,” Connie Chan, general partner at Andreessen Horowitz, said in a statement. “Zuma Team has proven its impact on asset management teams, and the sky is the limit as this platform grows to serve and help expand any industry that has leads that require nurturing.”

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