Apartment List Announces $50 Million Series D Capital Raise Led by Janus Henderson
APARTMENT LIST ANNOUNCES SERIES D, MORE THAN DOUBLES VALUATION AS A PROFITABLE COMPANY
Monday, December 21, 2020
Apartment List, the marketplace on a mission to deliver each renter a home they love, today announced their $50 million Series D round led by Janus Henderson Investors. This investment caps off a year in which Apartment List achieved profitability and accelerated revenue growth. The capital raise doubles the company’s valuation from the previous funding round.
"We believe home is a feeling everyone should own. And it’s our duty to secure that spirit for every single one of our renters and clients,” said John Kobs, Apartment List CEO & Founder. “We’re building an experience that gives renters a leg up in their search -- a personal concierge in their pocket.”
Apartment List hosts over 5.5 million units on the platform, reaching millions of renters on their path to find their next home each month. The product categorizes and curates available inventory based on personalized renter preferences, surfacing real-time information on pricing and available rent discounts.
“Apartment List’s unique value proposition - at the intersection of an industry we find attractive, a supportive macroeconomic backdrop, and a huge market opportunity ahead - makes this a really unique and interesting investment for us,” says Denny Fish with Janus Henderson.
The funding round comes on the heels of a roller-coaster year in the rental market as the pandemic led renters to lean on technology in new ways. With over a third of the U.S. population renting their home, and renters four times more likely to move each year than homeowners, the rentals category is massive and growing.
According to Dana Stalder with Matrix Partners, a leading and early investor in Apartment List, "Rentals is the last remaining classified category not yet won by a modern day startup, and Apartment List is well-positioned to lead the charge - a strong and fast growing disruptor, that's only been accelerated in the pandemic."
The investment enables the company to accelerate growth in its core marketplace, building curated insights for all renter segments and flexible pricing options for properties. “We’re on a mission to deliver every renter a home they love and the value they deserve,” said Kobs. "In a year when home has never been more important, we know it's increasingly critical to provide tools for renters and properties alike. We’ll be there for them with the right technology at the right time to ensure more families find home each year.”
ABOUT APARTMENT LIST
Apartment List is a technology-driven rental marketplace with over 5.5 million units on the platform, reaching millions of renters on their path to find their next home each month. Apartment List was founded with the mission to deliver every renter a home they love and the value they deserve. Apartment List offers a unique success-based business model with aligned incentives - connecting renters who want a curated concierge experience with properties that want flexible marketing solutions.