With more than 5 percent of America’s listings already on the site, the startup is raising $30 million in a round led by Canaan Partners to take the business to the next level.
It’s been a couple of years since Apartment List raised funding. Instead of charging landlords per post, they are only taking a cut of successful transactions.
Quadrupling their business since just last year, they expect to use the funding to double the size of the engineering team and triple the size of the sales team.
Currently just on iOS, they are also going to roll out an Android app later this year.
Apartment List’s biggest threat is Craigslist, which has a lot of inventory, but not a great user experience. Zillow is also in the competitive rentals business; others include RadPad and Zumper.
TechCrunch (03 Nov 2016)
