Property website Zoopla.co.uk raises a further £3.25 million
15th December 2010
Zoopla.co.uk, the leading UK property search and information website, today announced that it has raised a further £3.25 million of new funding to accelerate its already impressive growth. The funding consists of £1.75 million of new equity finance from existing shareholders, led by venture capital firms Atlas Venture and Octopus, together with a £1.5 million debt facility from Silicon Valley Bank, the commercial banking division of SVB Financial Group (Nasdaq: SIVB).
Launched less than three years ago, Zoopla has already overtaken a number of long-established players to become one of the UK’s top three property websites. Now attracting over 5 million visitors per month, Zoopla has quickly become a major source of leads and exposure for the industry, delivering over 10 leads per minute to estate agents and house builders across the UK.
This latest round of funding will be used to invest further in marketing to drive Zoopla’s brand awareness and grow its market share. Zoopla launched its first national TV advertising campaign earlier this year and will return to the small screen in January with a further campaign across ITV, Channel 4, Channel 5 and the Sky digital channels.
Alex Chesterman, Founder & CEO of Zoopla, commented: “Despite the current market uncertainty, we are totally committed to supporting the industry and building Zoopla.co.uk into the leading online property destination in the UK. As a result of our innovative features and exclusive partnerships, we provide unique and unrivalled exposure for our agent and developer members and will continue to invest whatever it takes to ensure that Zoopla is their most effective online marketing partner.”
Fred Destin, Partner at Atlas Venture commented: "Zoopla is fast becoming the website of choice for anyone interested in the UK property market - whether searching for their next home or simply researching the market. Alex and his team are passionate about delivering the leading online property experience to the consumer and being the best online marketing partner to the industry and we will continue to back them all the way.”
Alex Macpherson, Head of Ventures at Octopus Investments added: “Zoopla has developed a very compelling proposition which is why it has continuously been the fastest growing property website in the UK since its launch. It is led by a highly seasoned team with whom Octopus has a longstanding relationship and are delighted to be supporting.”
Phil Cox, Head of UK, Europe and Israel for Silicon Valley Bank added: "Zoopla is a leading website within the property industry and has experienced tremendous growth over the past couple of years. We’re delighted to support Zoopla as it enters this next significant phase of development.”
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Notes to editors
Zoopla is the UK's most comprehensive property website, focused on empowering users with the resources they need to make better-informed property decisions. We help consumers both find their next home and research the market by combining hundreds of thousands of property listings with market data, local information and community tools.
At Zoopla we are fans of transparency and everything we do is aimed at making the market more efficient for both property consumers and advertisers alike. Zoopla has rapidly become the UK’s leading online destination for property consumers to search for homes and do their market research and the favoured online marketing partner for UK estate agents, letting agents and property developers.
Launched in 2008, Zoopla has since been one of the fastest growing websites in the UK, now attracting over 40 million visits per month and we are proud to have collected numerous awards and accolades along the way, including being named one of the Top 10 UK Tech Companies (Guardian) and one of the Top 10 Most Innovative UK Companies (Smarta).
Zoopla is part of Zoopla Limited which was founded in 2007.
Zoopla Limited, The Cooperage, 5 Copper Row, London, SE1 2LH
Registered in England and Wales with Company No. 09005884
VAT Registration number: 191 2231 33
Data Protection number: Z9972266
About Atlas Venture
Atlas Venture is a leading early-stage international venture capital firm manages over $2.5 billion in capital through offices in Boston and London. Since inception in 1980, its partners have helped build over 300 companies in more than 16 different countries. In the past decade, 44 portfolio companies have been acquired and 47 are now public companies with an aggregate market capitalization of over $15 billion. Recently, Atlas Venture helped start or backed leading e-commerce and digital media companies such as Seatwave (the #1 European live event tickets marketplace), DailyMotion (the #1 independent video sharing site) or PriceMinister (a top 3 e-commerce company in France). Atlas Venture is the first institutional backer behind Zoopla.
For more information, visit www.atlasventure.com
About Octopus Investments Ltd
Octopus Investments, founded in 2000, is a leading investment specialist, offering a range of core and satellite investment solutions. Our main solutions, designed to address a client’s core investment needs, include a discretionary management service, 11 multi-manager multi-asset OEICs, and three single manager OEICs. Our satellite solutions, including venture capital trusts, enterprise investment schemes and inheritance tax products, are all designed to solve specific problems faced by financial advisers and their clients.
Octopus has built its business around three core pillars: customer led innovation, excellence in customer service and the quality of its people. It has grown its funds under management by almost 100% per annum since inception, and now employs over 170 people to manage almost £2 billion in funds under management. The success of the business stems from the fact that we are customer led in everything we do – all our solutions are the result of identifying un-met adviser and investor needs and providing bespoke, tailored investment solutions to meet those needs.
Octopus has won a number of awards for its products and customer service. It has twice been voted one of the Best 100 SMEs to work for by the Sunday Times, and is one of only two fund management companies to be AAA rated by IFAs for customer service.
For more information, visit www.octopusinvestments.com
About Silicon Valley Bank
Silicon Valley Bank provides commercial banking services to emerging growth and mature companies in the technology, life science, private equity and premium wine industries. Through its focus on specialized markets and extensive knowledge of the people and business issues driving them, Silicon Valley Bank provides a level of service and partnership that measurably impacts its clients’ success. Founded in 1983 and headquartered in Santa Clara, Calif., the company serves clients around the world through 26 U.S. offices and five international operations. Silicon Valley Bank is a member of global financial services firm SVB Financial Group (Nasdaq: SIVB), along with SVB Analytics, SVB Capital, SVB Global and SVB Private Client Services.
More information on the company can be found at www.svb.com.
For further information about Silicon Valley Bank please contact Elly Gilbert at firstname.lastname@example.org or on 020 7367 7813 or 07834 321920
Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve System. SVB Financial Group is also a member of the Federal Reserve System.
SVB Financial Group UK Ltd is registered in England and Wales at 7th Floor, 41 Lothbury, London, EC2R 7HF, U.K. under No. 5572575 and is authorised and regulated by the Financial Services Authority. This material has been issued by and approved by SVB Financial Group UK Ltd. as defined in Section 21 of the Financial Services and Markets Act 2000. The services which are the subject of this material are not available to retail clients as defined by the FSA. The material is for information purposes only and should not be considered as an offer to sell or a solicitation to buy any of the investments mentioned within, or to make any investment decision.