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Real estate management portal CommonFloor raises Series B from Accel and Tiger Global

Real estate and apartment management portal
CommonFloor.com has raised Series B funding from existing investor, Accel India
and Tiger Global Management, a New York-based investment firm. This is further
to the first round, raised from Accel India in 2009. The new funds will be used
for scaling presence across multiple cities, upgrading technology capabilities,
hiring talent and expanding marketing initiatives.

Real estate and apartment management portal
CommonFloor.com has raised Series B funding from existing investor, Accel India
and Tiger Global Management, a New York-based investment firm. This is further
to the first round, raised from Accel India in 2009. The new funds will be used
for scaling presence across multiple cities, upgrading technology capabilities,
hiring talent and expanding marketing initiatives.

CommonFloor started operations from
Bangalore in 2007 and is currently used by customers in over 120 cities across
India. The company has close to 50,000 communities listed with it, constituting
more than 25 lakh homes and recently opened offices in Delhi-NCR, Mumbai,
Chennai, Hyderabad and Pune. CommonFloor.com has a listing of properties like
apartments, row houses, villas and plots from over 1000 builders across the
country.

The company also recently launched a new
map based search feature for property buying and renting. Integrated with
Google Maps, map based search enables users to locate properties available for
sale / rent on a map, in addition to a keyword based search.

Sumit Jain, Co-founder and CEO, CommonFloor
said, “The second round of funding is a vote of confidence in our services and
growth. We are looking to expand operations and better our services, in line
with our core focus of providing the best online solutions for our customers’
real-estate needs. The investments from Accel India and Tiger Global (investors
in companies like Facebook and Flipkart) underline the potential of online
solutions for real estate needs and the growth expected in this sector.”

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