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2014-09-25

CommonFloor.com secures $30 million from Tiger Global

This round of funding comes within months after it raised Rs 64 crore in last round from Tiger Global and Accel India.

CommonFloor.com, the Real Estate portal has received another funding of $30 million in a new round raised from their existing investor, Tiger Global. This round of funding comes within months after it raised Rs 64 crore in last round from Tiger Global and Accel India.

 

Commenting on the funding, Sumit Jain, Co- founder and CEO of CommonFloor.com said, “We empower people to realize their property dreams. This investment will support the team’s vision to think out of the box, innovate and lead the online real-estate sector in its journey to further enhance user experience. 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’s 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 toward future growth. We are pleased to continue to partner with them” said Lee Fixel, Partner at Tiger Global Management.

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