Real estate portal CommonFloor.com has raised $30 million in a new round of funding. This round of funding has been raised from its existing investor, Tiger Global.
The current round of funding comes within months after it raised Rs 64 crore in the last round from Tiger Global and Accel India, a company release said.
With more than 2,00,000 users visiting the portal every day, CommonFloor.com has witnessed a 100 per cent increase in traffic, 125 per cent jump in live listings, and the company has added over 25,000 communities in the last two quarters.
Sumit Jain, Co- founder and CEO of CommonFloor.com, said in a statement, “This investment will support the team’s vision to think out of the box, innovate and lead the online real estate sector. We have more than doubled our revenues and traffic and the funding will further accelerate our growth plans. This round of funding will be used to invest further in our product and technology that will enhance customer experience. The company will continue to strategically scale-up its marketing and operations across the 18 cities where it is currently present and expand to 22 new markets in India.”
"India's online real estate sector has been expanding rapidly as Internet access grows, especially through mobile. CommonFloor.com has carefully mapped the needs of the online-based real estate ecosystem and has forged a clear path towards future growth. We are pleased to continue to partner with them” said Lee Fixel, Partner at Tiger Global Management.