Total amount raised
$169 Millions
Latest funding date
12/01/2020
Location
Apartment List has successfully raised significant funding through multiple rounds, with notable investors such as Quantum Partners and Tenaya Capital. The platform offers a seamless renting experience, acting as a rental matchmaker to help users find the best apartments based on their preferences.
Keep reading to explore the intricacies of Apartment List's fundraising journey and the investors backing this innovative platform.
What Is Apartment List?
Apartment List, founded in 2009, is a prominent player in the real estate and rental marketplace industry. Based in San Francisco, California, the company was established by Chris Erickson, Chris Herndon, John Douglass, and John Kobs.
With an employee count ranging between 251-500, Apartment List offers a seamless renting experience, aiming to make the rental process fair and transparent. The platform provides a wide range of rental listings, personalized search features, and various tools to assist users in finding the best apartments based on their preferences.
How Much Funding Has Apartment List Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: October 2009
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop the initial platform.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: December 2010
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand initial operations.
- Series A
- Amount Raised: $23M
- Date: November 2013
- Lead Investors: Matrix
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and increase market reach.
- Secondary Market
- Amount Raised: $6M
- Date: February 2014
- Lead Investors: Glynn Capital Management, Passport Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Series B
- Amount Raised: $30M
- Date: November 2016
- Lead Investors: Canaan Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform features and expand into new markets.
- Series C
- Amount Raised: $50M
- Date: January 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and improve user experience.
- Series D
- Amount Raised: $60M
- Date: December 2020
- Lead Investors: Janus Henderson Investors
- Valuation at Round: $600M
- Motivation Behind the Round: To increase sales initiatives and attract more renters to the platform.
Total Amount Raised: $169M. Current Valuation: $600M.
Key Investors
- Janus Henderson Investors
- Details: Janus Henderson Investors is a global asset management group that provides investment services to institutional, retail, and high net-worth clients. They led the Series D funding round for Apartment List.
- Investment Focus Areas: Equities, fixed income, property, private equity.
- Notable Investments: Various sectors including technology, healthcare, and financial services.
- Matrix Partners
- Details: Matrix Partners is a venture capital firm that invests in early-stage companies across various sectors. They have been an early and leading investor in Apartment List.
- Investment Focus Areas: Technology, software, internet companies.
- Notable Investments: HubSpot, Zendesk, Oculus.
- Canaan Partners
- Details: Canaan Partners is a venture capital firm that invests in early-stage technology and healthcare companies. They led the Series B funding round for Apartment List.
- Investment Focus Areas: Technology, healthcare.
- Notable Investments: LendingClub, Ebates, Match.com.
- Glynn Capital Management
- Details: Glynn Capital Management is a venture capital firm that focuses on investing in high-growth technology companies. They were key investors in the secondary market round for Apartment List.
- Investment Focus Areas: High-growth technology companies.
- Notable Investments: Not publicly disclosed.
- Quantum Partners LP (Soros Fund Management LLC)
- Details: Quantum Partners LP is managed by Soros Fund Management LLC, a private investment management firm founded by George Soros. They were key investors in the Series D funding round for Apartment List.
- Investment Focus Areas: Technology, real estate, financial services.
- Notable Investments: Various sectors including real estate, technology, and financial services.
What's Next for Apartment List?
Apartment List is poised to capitalize on a massive and growing rental market, with over a third of the U.S. population renting their homes. The platform's recent $50 million funding round, led by Janus Henderson Investors, will be used to boost sales initiatives and attract more renters, particularly in expanding cities like Houston, Dallas, and Austin.
Future fundraising opportunities are promising, with the potential for a public listing through an IPO or a merger with a SPAC within the next two years. However, the company faces challenges in navigating a competitive landscape with established players like Zillow and Redfin, and the fragmented nature of the rental listing market.
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