Urban Compass, a US-based website platform which allows you to search for New York City apartment rentals and to find a suitable neighbourhood, has raised $20m series A funding from a group of new and existing investors, including Advance Publications (the parent of magazine publisher Condé Nast), venture capital firms Founders Fund, Thrive Capital and .406 Ventures, and Salesforce.com Founder & CEO Marc Benioff.
The round was reportedly struck at a valuation of $150m, and the company may yet raise its series A funding to $25m.
The funding will be used to expand Urban Compass’s platform and to “keep innovating.”
Previously, Urban Compass raised $8m seed funding in November 2012.
Ori Allon and Robert Reffkin, co-founders of Urban Compass, said in a blog: “We want to continue helping New Yorkers even after they’ve found a new home and enable them to make the most out of where they live … We’re thrilled to partner with our investors to continue building the company and are excited about what’s in store.”