Ravalika Medipally January 9, 2015

CommonFloor which asserts to be India’s major online real estate platform that has raised hidden sum of funding from Google Capital’s 3rd investment in Asia from the firm, which centers the growth level, launched in February.

While the company is not so close to the quantum of the deal, the public in the discern put the picture at $15 million, gesturing financier eagerness in the nation’s $80-billion planned real estate market. The sources added, “Google Capital will also get a board seat in the company. CommonFloor, which was launched in 2007 by Sumit Jain, Lalit Mangal and Vikas Malpani, had earlier raised close to $50 million from Accel Partners and Tiger Global, including a $30-million round from the latter in September last year.”

“This will further fuel our vision to empower people to realise their property dreams. We continue to exhibit industry leading growth; the money raised will be strategically invested in making the platform more robust to enable the buyers and sellers to find their match faster,” said Jain.

They proclaimed, “This happens to be Google Capital’s third investment in Asia. Some of its prominent investments are SurveyMonkey, Lending Club, Credit Karma and Freshdesk. Google Capital had also invested in auction.com in the US, which is a marketplace for small and large investors.”

A partner at Google Capital, David Lawee said: “CommonFloor.com makes it easy for people in India to research, buy, sell and rent real estate. The online real estate market in India is poised for tremendous growth, which is why we’re excited to work closely with CommonFloor’s excellent team in the months and years ahead.”

Jain says, “CommonFloor’s data tools help potential buyers and renters find the best neighbourhoods for them to invest in. The Company which has more than 1K employees has already mapped 10 million homes for its listings and says it wants to eventually map every property in India. Then, after a deal is closed, owners can continue to use CommonFloor to manage their rental properties.”

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