CommonFloor.com, India’s largest real estate site and ranked as India’s No.1 real estate portal in the unique visitors classification as per ComScore data for November 2013, gets beneficiary of Rs 64 crore ($10.5 million) in series D funding.
Accel has been an investor in CommonFloor since 2009 and in 2012 teamed with Tiger Global. Both firms provided $7.5m of Series C funding to the business last summer.
CommonFloor.com’s revenue has been growing by more than 100% every quarter for more than a year now. The company is on track to achieve its goal of a turnover of $25 million in the next two years.
CommonFloor.com, launched in 2007 by Sumit Jain, Lalit Mangal and Vikas Malpani, is now India’s No.1 real estate portal and has 1.8 lakh active property listing across 120 cities. It also offers a map-based property search service. Its Android app, which was launched in March 2013 has seen over 50,000 downloads till now.
A 2013 article reports CommonFloor, founded in 2007, is an Rs 10-crore business which translates to $1.6 million dollars.
The new capital will be used to expand beyond property listings and offer information on related products, including home decor etc., the startup said in a statement. The latest funding brings the total money raised by CommonFloor to around $17.9 million.
“We have seen phenomenal growth in the past 2 years on every possible parameter – be it financials, visitors, advertisers or engagement. In fact, our topline has continued to grow by over 100% quarter on quarter since last year,” said Sumit Jain, co-founder of CommonFloor.