The Real Deal New York

Apartment List raises $50M in Series C round

Financing brings company’s total funding to $110M
By Eddie Small | January 18, 2018 09:00AM

From left: John Kobs and Chris Erickson of Apartment List (Credit: Apartment List)

Apartment List has raised another $50 million in a Series C funding round, bringing the rental listing platform’s total funding to $110 million, the company announced Thursday.

Passport Capital founder John Burbank led the latest round of funding and will take a seat on the company’s board of directors, while other participating companies included Canaan Partners, Matrix Partners, Quantum Partners and Industry Ventures.

Based in San Francisco, Apartment List offers renters real-time information on pricing shifts and listings with specific amenities they’re interested in. Renters can also use the platform to communicate with landlords and book tours. The company collects a fee from landlords only after a lease is signed.

The number of properties on Apartment List has grown by 50 percent in the last year to roughly 4 million, the firm claimed in a news release Thursday. The company plans on using the additional $50 million to further expand its listings, particularly in the small apartment buildings and single-family homes categories. It intends to double its headcount in 2018 as well.

Realtor.com announced in December that Apartment List would exclusively provide the site with listings for apartment communities, and in November, Facebook announced that Apartment List would provide it with listings for its expansion into real estate via the Marketplace feature.

“We expect to help 1 out of every 64 renters that move this year in the US find a home,” said Apartment List COO and co-founder Chris Erickson.