CommonFloor.com, has received funding from Accel India and Tiger Global Management. This is the second round of funding (Series B) for the real estate and apartment management portal & both the investors have re-confirmed their faith by participating in the same. Though the exact quantum of investment has not been divulged, the company confirms that the funds will be channeled to expand operation across India. The firm also intends to bolster its technologies & processes by hiring fresh talent.
What does CommonFloor offer?
Realty based websites are quite a few. Most offer similar services of listings. But a few have gone a step ahead to incorporate mobile based & location-aware search facilities to zero-in on a desired property. But so far, besides offering a few sharing options to enhance its brand image & holding a few property exhibitions in India & for NRIs, these internet-based property websites have not done much. This is where CommonFloor aims to differ. When we reviewed the site during its inception stage, we realized it wanted to go much beyond than mundane listings. CommonFloor.com is an endeavor intended to offer enhanced connectivity among residents of a common residency. This means, it offers a discussion platform for interactions within an apartment community.
A highly disorganized & fragmented segment, the realty sphere is in dire need of optimized consolidation. Companies though are working on innovative platforms that allow property seekers & home buyers, the convenience they crave. If these web-destinations manage to involve people to act as input & feedback agents, the quality of information could receive a significant boost. Property searches are wrought with many pitfalls about the locality that are not evident until the home-buyer moves in.
CommonFloor’s socially integrated platform could be just the solution needed for buyers who want the local residents’ opinions before taking the plunge. What do you think?