Common, a NYC-based shared housing company, has closed a $40M Series C financing round.
The round was led by Norwest Venture Partners. In conjunction with this investment, Jeff Crowe, Managing Partner at Norwest, joined Common’s board of directors.
The company intends to use the funds to continue to grow operations and expand the business.
Led by Brad Hargreaves, CEO and Founder, Common aims to improve the experience of living with roommates, keeping the good parts of living with others — the social environment and affordability — while removing the annoyances via a membership that includes rent, all utilities, WiFi, weekly cleaning of shared spaces, furnished apartments, flexible lease terms, and transfers between the homes and cities in the network.
The company opened up its first coliving home in Brooklyn in October 2015 and, since then, has expanded to 14 homes across 5 major cities.