Urban Compass

Urban Compass Raises $40M To Expand Its Apartment Marketplace Beyond NYC

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Urban Compass, the startup that runs an online marketplace for people to rent, buy, and sell apartments, announced today it has closed on $40 million in new funding.

The round, which is Urban Compass’ Series B, includes participation from Advance Publications and Salesforce CEO Marc Benioff, who also pitched into the company’s $20 million Series A round announced in September 2013 This brings the total amount invested in the company to $73 million.

The money will be used in part to expand Urban Compass’ service beyond its native New York City and into other metro areas in the United States. Boston, Chicago and San Francisco are among the cities that the company is currently eyeing for its expansion, co-founder founder Ori Allon said in an interview with Bloomberg. Bloomberg also reported that the funding round pegs Urban Compass at a $360 million valuation, which is more than double the $150 million valuation it had at its last round of funding.

Urban Compass first emerged in December 2012 when it raised an eye-popping $8 million seed round while still in stealth mode. You can read all of TechCrunch’s previous coverage of the startup here.