According to the Economic Times, CommonFloor, a Bangalore, India-based real estate web site, raised $10.4m in Series D funding.
Backers included existing investors Accel Partners and Tiger Global Management.
The company intends to use the funds to continue to develop and offer more customized solutions.
CommonFloor targets India’s rising middle-class population planning to buy and rent across major cities, providing a platform for finding apartments and connecting with the community. Founded in 2007, CommonFloor now has over 75,000 projects listed on the site and
Co-Founded by CEO Sumit Jain and Lalit Mangal, CommonFloor creates private community portal for residential societies in India where residents can communicate with their neighbors, discuss and solve common issues, and access community updates and useful local information.
It also provides an online directory of all residents, email and SMS facility as well as local information such as nearest petrol pump, school, doctors, clinic etc.
In addition, the platform facilitates maintenance tracking, event tracking and reminders.