Real estate startup Common announced the close of $16 million in Series B financing. Four investors contributed to the round: Circle Ventures, Solon Mack Capital, Inevitable Ventures, and Wolfswood Partners.
Common partners with property owners and local organizations to create residential communities with monthly terms, shared services, and community events and management. Each member has a private bedroom that comes furnished with a nightstand, lamp, pillows, and a bed. The Common team cleans all shared spaces, including kitchens, living rooms, and shared bathrooms, once a week. Kitchens in Common buildings come stocked with staples like olive oil, salt, pepper, paper towels, soap, and other essentials.
According to the company, Common has 482 buildings in New York, San Francisco, Oakland, Washington, D.C., and Chicago, with many more slated to open during the next few years.