Big news this week from one of my favorite commercial real estate tech companies 42Floors.
There has been no doubt that I have been blatantly championing 42Floors as the Next Commercial Real Estate Search Site.
Office Space Search Engine 42Floors Launches in New York, Raises $5M Funding
New York, NY November 14, 2012 — 42Floors, the office space search engine, announced today it is expanding to cover New York. The company, which launched six months ago in San Francisco, is partnering with Manhattan’s largest landlords and commercial real estate brokers to make it easier for everyone to search for office space.
According to Jason Freedman, the company’s cofounder, this wider reach has always been part of 42Floors’ plan. “Our plan is to reinvent office search one city at a time. We had huge demand in San Francisco — so much that we couldn’t keep up. So, for the New York launch we’ve quadrupled our capacity by partnering with the biggest property owners and brokers beforehand.”
In conjunction with the New York launch, 42Floors also announced that it has raised $5 million in Series A funding from investors including Thrive Capital and Bessemer Venture Partners. According to Freedman, “We received funding from 35 investors; the vast majority of them are based in New York City because that’s where we’re focused as a company.”
As part of the financing, Jeremy Levine and Jared Kushner join the board of directors. Jeremy’s past investments include LinkedIn, Yelp, and Pinterest, among others. Jared is the CEO of Kushner Companies, a diversified real estate organization headquartered in New York, and brings a wealth of commercial real estate expertise. Other investors include Dave McClure of 500 Startups, Chris Dixon, and many leaders in the commercial real estate industry.
42Floors was founded in November 2011 with the goal of making office space search three things it has never been: beautiful, easy, and transparent.
42floors.com gives users a free, comprehensive database of available office spaces, complete with high quality photography and crucial data about the listings. The site currently covers San Francisco and New York with plans to expand.
Based in San Francisco, the 42Floors team includes six alumni of the YCombinator accelerator program and all of the developers and designers are veteran startup founders.