Apartment List secures additional $6M in round led by Glynn Capital and Passport Capital
Apartment List snagged another $6 million in financing to improve an individual's apartment-hunting experience, TechCrunch reported. Glynn Capital and Passport Capital led the round which was also participated in by Rothenberg Ventures, Sam Shank, the founder of Hotel Tonight and Sherpa Ventures' Scott Stanford and Shervin Pishevar. Rony Kahan, the founder of Indeed and Rick Marini, the founder of BranchedOut also joined in the round. Ethan Anderson, Aayush Phumbhra and Lee Linden also participated in the financing. Anderson founded MyTime, Phumbhra established Chegg and Linden founded Karma.
Apartment List seeks to create an improved end-to-end experience for those hunting for a place to live. A few months ago, the company secured $15 million from Matrix Partners in order to solve the problems faced by those looking for apartments, the report said.
Apartment List is currently working on ensuring that there will be more detail given about the listings posted on the website. These include getting more photos to go together with an ad so that those looking for apartments get a clear idea of a place as well as even making 3D floor plans available for certain units, the report said.
The company has also concentrated on giving apartment hunters a better mobile experience. Most of the apartment-hunting process takes place on the fly or when an individual is not facing a computer. Thus, Apartment List has developed mobile apps that allow users to look for apartments and even roommates! Through these apps, potential renters can link with landlords, property managers and possible roommates to talk about the places that are listed. This attention to mobile has been a plus for Apartment List as 65% of the visitors who checked out the site last month were using mobile devices, the report said.
Apartment List CEO John Kobs told TechCrunch that there were 2.2 million visitors to the site last month. It is looking to get 5 million visits by the end of 2014 so that the platform will have more listings-and consequently, more renters, the report said.
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