Apartment List: $50 Million Series D Funding And $600 Million Valuation

By Annie Baker ● December 29, 2020
  • Apartment List – a company that is on a mission to deliver each renter a home they love – announced that it raised $50 million in Series D funding. These are the details.

Apartment List – a company that is on a mission to deliver each renter a home they love – announced that it raised $50 million in Series D funding led by Janus Henderson Investors. And this investment caps off a year in which Apartment List achieved profitability and accelerated revenue growth. This round of funding doubles the company’s valuation from the previous funding round.

Currently, Apartment List hosts over 5.5 million units on the platform and it reaches millions of renters on their path to find their next home each month. And the product categorizes and curates available inventory based on personalized renter preferences, surfacing real-time information on pricing and available rent discounts.

This funding round comes on the heels of a roller-coaster year for the rental market as the pandemic led renters to lean on technology in new ways. And 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.

This investment enables the company to accelerate growth in its core marketplace, building curated insights for all renter segments and flexible pricing options for properties. 

KEY QUOTES:

“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. We’re building an experience that gives renters a leg up in their search — a personal concierge in their pocket.”

– John Kobs, Apartment List CEO & Founder

“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.” 

– Denny Fish with Janus Henderson

“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.”

– Dana Stalder with Matrix Partners, a leading and early investor in Apartment List