Common, a NYC-based residential brand that designs, leases, and manages multifamily properties for today’s renters, raised $50m in Series D funding.
The round was led by Kinnevik with participation from existing investors including Norwest Venture Partners, 8VC, and Maveron, as well as Wilshire Lane Partners and Hanaco. In conjunction with the funding, Kinnevik Investment Manager Akhil Chainwala will be joining Common’s Board of Directors.
The company intends to use the funds to grow its multifamily operating platform and family of brands.
Led by Founder and CEO Brad Hargreaves, Common is a residential brand and operating platform that designs, leases, and manages multifamily properties. Through smart design and tech-enabled property management, Common aims to deliver high level experiences across eleven cities and over 3,300 members in coliving, microunit, and traditional apartments.
The platform also includes workforce housing management brand Noah and family-first urban designer and operator Kin. With over 17,500 units signed and under development and over $110 million in venture capital investment, Common is expanding into 26 cities across the world. The company expects to have over 6,000 units under management by the end of 2020. Later in 2020, Common will open its second headquarters in Atlanta, where it expects the majority of its workforce to call home.