The round was led by New Enterprise Associates, with participation from existing investors Bessemer Venture Partners and Thrive Capital, as well as new investor Columbus Nova Technology Partners. In conjunction with the funding, Paul Hsiao, a partner at NEA, joined 42Floors’ board.
The company intends to use the capital to expand nationwide.
Founded in November of 2011 by Jason Freedman, 42Floors aims to make it easy to discover and create a dream office space and make the commercial real estate process easier for everyone. The company’s platform provides (for free) users with the opportunity to find available spaces, with photos and all the data they need to make a decision.
Launched in both San Francisco and New York focusing on serving tech startups, the platform has been used by over 1,000 companies to find their office space. The company said that landlords including SL Green, Vornado, Equity Office, Shorenstein Properties, etc., will be listing all of their properties on the platform.
24/11/2012: 42Floors Raises $5M in Series A Funding