42floors takes $12.3M to hack commercial real estate at home, abroad

As someone once worked in an elevator alcove, I appreciate the effect good office space has on productivity and mental well-being.

So does the team at 42floors and their investors, who have put $12.3 million into this search engine for office rentals.

42floors seeks to be the missing link between companies without office space and office space without tenants. The database currently contains listings in San Francisco, New York, and Brooklyn, and this funding will fuel entrance into new markets. Users input their desired location and can narrow the results by cost, square-footage, and neighborhood. The listings are accompanied by professional photographs and there is a map view to display all available units.

The marketplace does not circumvent landlords and brokers. Rather, it helps customers see a range of options before trekking all over town or shelling out for professional help. The service is free for brokers, landlords, and consumers, but 42floors takes a commission on the sales. Companies like Zillow and Trulia tackle the home rental market, and 42floors takes a similar approach, of focusing on user experience to take some of the pain out of the process.

The founding team participated in prestigious accelerator Y Combinator’s winter 2012 class and raised $5 million in September of 2012 including Thrive Capital, Bessemer Venture Partners, Reddit cofounder Alexis Ohanian, Chris Dixon, and Dave McClure. New Enterprise Associates led this round, with participation from Bessemer Venture Partners and Thrive Capital, as reported this morning by TechCrunch.   

In addition to expanding its geographical reach, 42floors will also build out its e-commerce offerings, where companies with related products can market or sell through the site.

Read our interview with cofounder Jason Freedman.