Bangalore, July 4, 2013: CommonFloor.com, India’s leading property portal today announced that they have raised $7.5 million in a new round of funding. The Series C has been raised from existing investors, Tiger Global Management and Accel India. The new funds will be used to penetrate deeper into existing markets, expand marketing initiatives and invest in technology and product enhancement. CommonFloor.com had earlier raised Series A from Accel India in 2009 and Series B in 2012 from Accel India and Tiger Global Management.

Sumit Jain, Co-founder and CEO, CommonFloor.com said, “The online play in real estate is a billion dollar opportunity and being the fastest growing real estate portal in the country, we are ideally placed to make the most of this. It is also heartening to know that for many consumers out there, CommonFloor.com is the first choice when it comes to finding a suitable property. This round of funding by our existing investors is a vote of confidence in our business model and traction that we have built in a short time through our differentiated offerings. ”

CommonFloor.com is the fastest growing real estate portal in the country growing by more than 100% year on year as per comScore. In Bangalore, CommonFloor.com is the number one property portal as per Alexa traffic rank. Today CommonFloor.com has more than 1000 paying customers that include builders, agents and vendors. The company’s revenue has been growing by more than 100% every quarter and it aims to achieve a turnover of $25 million in the next two years.

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