Commercial real estate platform operator CoStar Group has acquired Cozy, the US-based online property leasing platform backed by insurance firm American Family and internet technology group Alphabet, in a $68m deal.
Cozy runs an online platform that enables more than 120,000 tenants to find and rent properties from some 50,000 landlords. It also offers rent estimates, applications, tenant screening, payment and expense tracking tools.
CoStar said Cozy will be integrated with its existing leasing platform, Apartments.com. It had raised more than $18m in funding prior to the deal.
American Family Ventures, the corporate venturing arm of American Family, led an $8.4m series B round for Cozy in 2016, investing alongside General Catalyst, Seven Peaks Ventures, Social Capital, Stewart Butterfield and Jason Calacanis.
GV, a corporate venturing subsidiary of Alphabet, had joined Social Capital in a $1.5m seed round for the company in 2012. It then went on to raise $5m in series A funding in 2013 before adding an additional $3.4m to the round two years later.