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2014-10-04

CommonFloor raises $30M in Series E round from Tiger Global

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

CommonFloor.com has raised $30 million (Rs 181 crore) in Series E round of funding from existing investor Tiger Global Management, as reported by VC Circle.

 

“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,” Sumit Jain, co- founder and CEO, CommonFloor told VC Circle.

 

“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,” he added.

 

The report further said that early this year, CommonFloor had raised Rs. 64 crore ($10.4 million) in Series D round of funding from Tiger Global and Accel Partners.

 

"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,” Lee Fixel, partner, Tiger Global told VC Circle.

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