Total amount raised
$81.1 Millions
Latest funding date
5/1/2023
Location
99.co has successfully raised significant funding across multiple rounds, attracting a diverse group of investors. The platform offers a comprehensive property search experience, catering to renters, buyers, and agents.
Keep reading to explore the intricacies of 99.co's fundraising journey and the investors backing this innovative platform.
What Is 99.co?
99.co, founded in 2014, is a leading property search engine based in Singapore. The platform offers a user-friendly experience for renters, buyers, and agents looking for various types of properties.
Founded by Conor McLaughlin, Darius Cheung, Dominic Ee, Ruiwen Chua, Saurabh Mandar, and Yan Phun, 99.co has grown significantly since its inception. The company employs between 251 and 500 people.
99.co provides comprehensive tools and resources, including property value calculators and directories for neighborhoods and MRT stations, making it a go-to platform for property searches in Singapore.
How Much Funding Has 99.co Raised?
- Seed Round
- Amount Raised: $560K
- Date: May 2014
- Lead Investors: East Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and develop initial features.
- Seed Round
- Amount Raised: $1.6M
- Date: January 2015
- Lead Investors: Eduardo Saverin, Peak XV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
- Seed Round
- Amount Raised: -
- Date: August 2015
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue growth and market penetration.
- Series A
- Amount Raised: $7.9M
- Date: April 2017
- Lead Investors: Eduardo Saverin, Peak XV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Series B
- Amount Raised: -
- Date: March 2019
- Lead Investors: 500 Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and increase user acquisition.
- Series B
- Amount Raised: $15M
- Date: August 2019
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technological infrastructure and expand services.
- Series C
- Amount Raised: $8M
- Date: October 2019
- Lead Investors: REA Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To solidify market position and drive growth.
- Series C
- Amount Raised: $37M
- Date: July 2022
- Lead Investors: Gaw Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand regional presence and improve platform features.
- Series C
- Amount Raised: $11M
- Date: March 2023
- Lead Investors: Gaw Capital Partners, OCBC Ventura
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operations and growth in Singapore and Indonesia.
- Non-Equity Assistance
- Amount Raised: -
- Date: May 2023
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To receive strategic support and resources.
Total Amount Raised: $81.06M. Current Valuation: Not publicly disclosed.
Key Investors
- Gaw Capital Partners
- Details: Gaw Capital Partners is a private equity fund management company that focuses on real estate markets in Asia. They have a strong presence in the region and are known for their strategic investments in property development.
- Investment Focus Areas: Real estate, hospitality, logistics.
- Notable Investments: InterContinental Hong Kong, Beijing Century Towers, Pacific Century Place.
- OCBC Ventura
- Details: OCBC Ventura is the venture capital arm of OCBC NISP, a financial services group in Indonesia. They focus on supporting innovative startups and growth-stage companies.
- Investment Focus Areas: Financial services, technology, fintech.
- Notable Investments: Not publicly disclosed.
- REA Group
- Details: REA Group is a global digital advertising company specializing in property. They operate property websites and real estate portals across multiple countries.
- Investment Focus Areas: Real estate, digital advertising, technology.
- Notable Investments: iProperty Group, PropTiger, Move, Inc.
- 500 Global
- Details: 500 Global is a venture capital firm that invests in early-stage startups. They have a global presence and focus on supporting innovative and scalable businesses.
- Investment Focus Areas: Technology, consumer products, fintech.
- Notable Investments: Canva, Credit Karma, Udemy.
- Eduardo Saverin
- Details: Eduardo Saverin is a co-founder of Facebook and an active investor in technology startups. He has a keen interest in supporting innovative and disruptive companies.
- Investment Focus Areas: Technology, fintech, consumer internet.
- Notable Investments: Jumio, ShopBack, RedMart.
What's Next for 99.co?
With the recent $11 million funding boost, 99.co is poised to expand its real estate marketplace operations in Singapore and Indonesia. This financial backing offers a significant opportunity to enhance its technological infrastructure and user experience, potentially scaling its business and market presence.
Future fundraising opportunities seem promising, especially if 99.co continues to demonstrate growth and market potential. However, the company may face challenges such as competition from other real estate platforms, regulatory hurdles, and maintaining technological advancements. Despite these obstacles, the growing interest in Southeast Asian real estate markets and the trend of consolidating real estate platforms present a bright future for 99.co.
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