Indian real estate search engine CommonFloor gets $10.4m in series D funding

investment

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.

techcrunch.com reports-

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.

News Source:
http://www.pr.com/press-release/535439
http://www.techinasia.com/india-property-portal-commonfloor-gets-series-d-funding/
http://www.altassets.net/private-equity-news/by-news-type/deal-news/accel-tiger-global-keep-capital-coming-for-indian-real-estate-search-engine-commonfloor.html
http://blog.commonfloor.com/sumit-jain-shares-his-views-on-the-latest-round-of-commonfloor-coms-funding-with-economic-times
http://www.redherring.com/finance/bluebox-security-secures-18m-funding-investment-round-up-2/

Image Source:http://webappstech.com/farmkings/investment-plan.html

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E-Summit 2010 Startup Showcasing at IIT Bombay

The Entrepreneurship Summit (E-Summit) 2010, held at IIT Bombay on 7th February, 2010 for Startup Showcasing. Startup Showcasing creates opportunities for startups to procure interested persons for internship as well as full-time employment, thus giving them a chance to get exposed to first hand entrepreneurial experience. Startup Showcasing aims to provide visibility to some of the most exciting and innovative start-ups by showcasing them at E-Summit.

E-Summit is an annual entrepreneurship event conducted by the eCell of the IIT Bombay. E-Summit 2010 held at IIT Bombay on 7th February. E-Summit 2010 brings in panel discussions carried out by some of the most eminent leaders and distinguished entrepreneurs.

Selected Startup for E-Summit 2010 for Startup Showcasing are following:

CommonFloor, Pristine, Voicetap, Twistcontent.com, CTech Labs, WebVivah, Zeusnumerix, Butterfly Fields, Spoxchange, GrassRoutes, IkenSolutions, IDuple, RoboSoftSystem and Vardenchi Motorcycles.

Vulture’s Nest is a unique initiative taken by The Entrepreneurship Cell, IIT Bombay. Set in a reality show format,which will be aired on ET Now, the participants get an opportunity to pitch in front of investors about their startup.

Common Floor is an online application that provides a feature rich and private portal for residential community (Apartment Complex, Gated Layout, Villas or a Colony), for better and effective information sharing among apartment owners and its residents. Commonfloor.com, India’s biggest online apartment community.

Reference: Common Floor showcased at e-summit iit bombay