Industry: Real Estate
Headquarter: San Francisco, CA
Founded in 2011
Founders: Darren Nix, Ben Ehmke, Jason Freedman, Alison Di Spaltro, Justin Bedecarre, Aaron O’Connell, James Bracy, Jon Bracy
42Floors is a web-based real estate company providing tenants, brokers, and landlords the ability to see available commercial real estate in a given market 42Floors was founded in November 2011 by Jason Freedman, Alison DiSpaltro, Ben Ehmke, and brothers, James and Jon Bracy. The company is headquartered in South of Market, San Francisco, California.
42Floors first went through the tech accelerator Y Combinator in the winter of 2012. The company initially launched service in San Francisco, California. In its first year, 42Floors helped over 1,000 companies find more than 2 million square feet of office space.
In November 2012, 42floors launched its services in New York City. Initially the company built an eCommerce platform called showroom in order to generate revenue. Later 42Floors experimented with tenant broker partnerships and took revenue from a referral fee at the close of a real estate transaction. In late 2014, the company created its own real estate brokerage team in San Francisco and New York City. At the start of the second quarter in 2015, 42Floors discontinued its real estate broker services and refocused on being a national search engine for office space.
42Floors raised $400,000 from Y Combinator (company) and SV Angel’s Start Fund.
In 2012, the company announced its $5 mm series A round of funding. Notable investors includ ed the owner of Kushner Properties, Jared Kushner, his brother, Joshua Kushner, and Jeremy Levine of Bessermer Venture Partners.
In 2013, 42Floors raised another $12.3 mm for the company’s series B funding. The round was led by New Enterprise Associates, includ ed Columbus Nova, and saw participation from Series A investors Bessemer Venture Partners and Thrive Capitol.