Industry News

HotPads.com secures $2.3 million in financing

Housing site to expand local search offerings

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Real estate search and listing service HotPads.com has secured $2.3 million in a second round of financing, the company said today, as the online real estate space continues to heat up. The round was led by Meakem Becker Venture Capital, which contributed $2 million to the deal. Alan Veeck and Dave Becker of MBVC will join the company's board of directors. HotPads is a rental property Web site that launched in November 2005, and offers free property listings and free search capabilities to consumers looking for rentals. The site features a map-based search platform that allows users to specify unit types such as homes (full or divided), condos, large apartment communities and medium-sized apartment buildings. Visitors can also choose whether to search for sublets, corporate housing, rentals or all categories, and the site offers a "find a roommate" search option. Icons on the site's map distinguish between various property types. The company recently launched an area mapping and demogr...