SAN FRANCISCO, Nov. 3, 2016 /PRNewswire/ -- Apartment List, the fastest growing rental marketplace, is excited to announce $30MM raised in Series B funding. The round was led by Canaan Partners, with participation from existing investors Matrix Partners and Glynn Capital. Apartment List will use this round of funding to continue investment in its industry-leading renter experience and expand its on the ground presence to another 30+ metro areas. Rich Boyle, Partner with Canaan and previously Chairman and CEO of LoopNet, will be joining the Apartment List Board. "We are elated to be partnering with Rich Boyle and Canaan Partners for the next phase of Apartment List's growth. I couldn't be prouder of our team and what we've built together since we launched Apartment List five years ago, but this is just the beginning," said John Kobs, CEO and co-founder. Apartment List offers the only transaction-based marketplace for long-term rentals, completely aligning incentives between the renters it serves and the landlords who advertise on the platform. Since transitioning from a metasearch platform to a marketplace, Apartment List has grown revenues 4x over the past year and now reaches over 4M renters monthly. Today, Apartment List has over 2.4M apartments and works with many of the industry's top owners and managers, including Greystar, Equity Residential, Avalon Bay, and Camden. By focusing on integrating directly with each of these clients, Apartment List can offer renters real-time unit availability, detailed amenities, and online tour booking. The Apartment List experience is unique, taking the work out of the entire apartment search process. It provides renters with personalized search recommendations based on the features that are most important to each renter. From there, it guides renters through tradeoffs between apartments, tells renters about price changes, and makes it easy to visit apartments to make a final decision. Renters love Apartment List because it makes finding the right apartment simple and delightful. Landlords and community managers love working with Apartment List because of its success-based model: landlords only pay when a renter signs an actual lease. Focusing on this transaction ensures that Apartment List continually provides high-quality, high-intent renters who are ready to move, which saves landlords time and money and results in leases.