About six months after Indian property portal CommonFloor raised $7.5 million in funding from Accel Partners and Tiger Global Management, the startup has done it again. Today it’s the beneficiary of Rs 64 crore ($10.5 million) in series D funding.
CommonFloor claims to be India’s largest real estate site, based on ComScore’s ranking for its site relative to local rivals. It has 75,000 property projects listed, for a total of 200,000 listings, covering hundreds of cities.
The Bangalore-based startup doesn’t just have new property listings and reviews but also incorporates a platform for residential community management. It’s all free to use for regular folks, and so CommonFloor monetizes from listings, the community platform, marketing, and advertising from the condo makers.
In today’s announcement, the CommonFloor team says the new funding will be used for product development and to “fuel growth through new marketing initiatives.” Its previous input of capital was used to open 11 new offices across India, so that it now has staff present in 18 cities.
(Editing by Josh Horwitz)
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