September 24, 2020
Common has completed a $50-million Series D funding round led by Kinnevik and with participation from existing investors, including Norwest Venture Partners, 8VC and Maveron. The new funding will help drive the growth of Common beyond its co-living base into a residential operating platform.
“Our partnership with Kinnevik will greatly accelerate our mission to create a better rental housing experience through thoughtful technology and intelligent design,” said Common Founder and CEO Brad Hargreaves.
Common expects to have more than 6,000 units under management by the end of 2020. Of the current 17,500-plus units under development, one-third are traditional, two-thirds are co-living. Later this year, Midtown Manhattan-based Common will open its second headquarters in Atlanta.
Additional new investors in the Series D round include Wilshire Lane Partners, a venture firm that specializes in real estate strategic partnerships, and Hanaco, a venture capital fund that invests in promising emerging startups.
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