Common has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform offers a unique approach to its market, setting it apart from competitors.
Keep reading to delve into the details of Common's fundraising journey and the investors who believe in its potential.
What Is Common?
Common, founded in 2015, is a pioneering platform in the co-living space. Based in New York City, the company aims to redefine urban living by offering flexible, community-focused housing solutions.
The brainchild of Brad Hargreaves, Common has grown rapidly since its inception. The company now boasts a team of over 200 employees dedicated to enhancing the co-living experience.
For more information, you can visit their official website.
How Much Funding Has Common Raised?
- Amount Raised: $20,000,000
- Date: May 24, 2022
- Lead Investors: General Catalyst, Canaan Partners, 1confirmation, Branson Bollinger
- Motivation Behind the Round: The funds will be used to expand end-to-end functionality and decentralize the platform.
Total Amount Raised: $20M
Current Valuation: (~estimated)
Key Investors
- Spark Capital
- Details: Spark Capital is a venture capital firm that invests in startups across various stages and sectors. They have a strong track record of supporting innovative companies.
- Investment Focus Areas: Technology startups, software, consumer, media
- Notable Investments: Twitter, Slack, Oculus
- Polychain
- Details: Polychain is a cryptocurrency investment firm that focuses on blockchain technology and digital assets. They are known for their early investments in the crypto space.
- Investment Focus Areas: Blockchain technology, cryptocurrencies, decentralized finance (DeFi)
- Notable Investments: Coinbase, MakerDAO, Filecoin
- General Catalyst
- Details: General Catalyst is a venture capital firm that partners with founders from seed to growth stage. They aim to build companies that have a lasting impact.
- Investment Focus Areas: Technology, healthcare, consumer, financial services
- Notable Investments: Airbnb, Stripe, Snap
- Canaan Partners
- Details: Canaan Partners is an early-stage venture capital firm that invests in entrepreneurs with visionary ideas. They have a diverse portfolio across various sectors.
- Investment Focus Areas: Technology, healthcare, fintech
- Notable Investments: LendingClub, Ebates, Match.com
- 1confirmation
- Details: 1confirmation is a venture capital firm that invests in early-stage blockchain and cryptocurrency companies. They focus on projects that aim to decentralize the internet.
- Investment Focus Areas: Blockchain, cryptocurrencies, decentralized applications (dApps)
- Notable Investments: OpenSea, dYdX, Nexus Mutual
What's Next for Common?
Common stands at the cusp of significant growth, driven by the increasing interest in DAOs and decentralized governance. With $20 million in recent funding, the platform is poised to expand its end-to-end functionality and decentralize further. The launch of an app store for DAO tools and the $CMN token presents substantial opportunities for growth, potentially attracting more users and active communities.
Future fundraising could be bolstered by the ongoing decentralization and token launch, opening new avenues for investment. However, challenges such as managing the decentralization process, competition, and regulatory hurdles could test Common's resilience. As the platform scales, ensuring security and reliability will be crucial.
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