Info-tech

Commonfloor.com secures funding

V. Rishi Kumar Hyderabad | Updated on October 21, 2012 Published on October 20, 2012

Commonfloor.com, a real estate and apartment management portal, has secured Series B funding from existing investor Accel India and Tiger Global Management, a New York-based investment firm.

It had earlier raised funds from Accel India in 2009. The new funds will be used for scaling its presence across multiple cities, upgrading technology capabilities, hiring talent and expanding marketing initiatives. The company did not disclose the fund size.

Sumit Jain, co-founder and CEO, CommonFloor, in a statement said, “The second round of funding is a vote of confidence in our services and growth. We are looking to expand operations and better our services.”

CommonFloor started operations from Bangalore in 2007 and is currently used by customers in over 120 cities across India. The company has close to 50,000 communities listed with it, constituting more than 25 lakh homes and recently opened offices in the Delhi-NCR, Mumbai, Chennai, Hyderabad and Pune.

It has a comprehensive listing of properties from over 1,000 builders across the country. The company also recently launched a new map-based search feature for property buying and renting.

>rishikumar.vundi@thehindu.co.in

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Published on October 20, 2012
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