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CommonFloor Raises Rs 64 Cr Series D From Tiger Global and Accel India

commonfloorReal estate and apartment management portal CommonFloor.com has raised Series D funding of Rs 64 crore ($10 million approx.) from existing investors Tiger Global and Accel India. It will use the funds raised for product development, building research expertise in the domain and for marketing. The Bangalore-based company now wants to go beyond the property listing market and also become the go-to website for other home needs such a interior design, furnishing, movers and packers among others. We might see the Home Needs section getting more push over time going by the release issued by the company. CommonFloor.com offers property listings and reviews across various categories like apartments, row houses, villas and plots. It also offers a map-based property search service, through which it overlays rental and property listings on a Google map.

CommonFloor claims to have over 75,000 projects listed on their portal. It set up 11 new offices in Jaipur, Chandigarh, Lucknow, Nagpur, Indore, Ahmedabad, Kochi, Coimbatore, Mysore, Kolkata and Mangalore recently, raising the total number of offices to 18.

The company recently launched its mobile app for iOS, which offers features such as map-based search and augmented search.

CommonFloor had previously raised $7.5 million Series C funding from Tiger Global Management and Accel India. The company had then said that it plans to use the money to strengthen their operation in existing markets, improve its technology & product and for marketing initiatives. Prior to this, the website had raised an undisclosed amount of funding from the same investors in October 2012 and from Accel India in 2009.

Competition: Other players in the space include Nexus Venture Partners-backed Housing, Accel Partners & SAIF Partners backed PropTiger, Times Business Solutions’ property listing portal MagicBricks, Info Edge’s 99Acres, TTK Group’s Home Shikari and real estate group buying portal GroffrIndiaProperty backed by Canaan Partners and Mayfield Fund. Property hunt website Grabhouse that also helps people find roommates raised undisclosed amount in funding in late 2013.

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