Apartment List, a San Francisco, CA-based rental marketplace, raised $30M in Series B funding.
The round was led by Canaan Partners, with participation from existing investors Matrix Partners and Glynn Capital.
The company will use the funds to continue investment in its renter experience and expand its presence to another 30+ metro areas. In conjunction with the funding, Rich Boyle, Partner with Canaan and previously Chairman and CEO of LoopNet, will be joining the Apartment List Board.
Launched in September 2011 by CEO John Kobs and COO Chris Erickson, Apartment List offers a transaction-based marketplace for long-term rentals, completely aligning incentives between the renters it serves and the landlords who advertise on the platform.
Today, the platform reaches more than four million renters each month and has over 2.4M apartments and works with many of the industry’s top owners and managers, including Greystar, Equity Residential, Avalon Bay, and Camden.
By focusing on integrating directly with each of these clients, it can offer renters real-time unit availability, detailed amenities, and online tour booking.