PropTiger.com, an Indian online real estate marketing platform, raised US$37m in funding.
The round was led by News Corp (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) , the New-York based global media and information services company, which acquired a significant minority stake in the parent company of PropTiger.com for $30m, with participation from existing investors SAIF Partners, Accel Partners and Horizen Ventures, which added another US$7m in total. In conjunction with the investment, Raju Narisetti, Senior Vice President, Strategy at News Corp, joined the board of PropTiger.com’s Singapore-based parent company, Elara Technologies Pte Ltd.
Co-Founded in February 2011 by Dhruv Agarwala and Kartik Varma, classmates from Harvard Business School, PropTiger.com PropTiger.com leverages technology and data to guide customers through the entire process of buying a home, including search, property identification, price negotiation, documentation, home loan facilitation and post sales services.
The company, which has a presence in the major real estate markets in India, recently launched its Data Labs services for institutions, such as real estate developers, private equity investors and banks, in order to allow them to make better decisions.