MyNewPlace raises $12 milion for apartment rental site

MyNewPlace has raised an additional $12 million in venture capital.

We wrote about the company back in March, when the San Francisco company first raised $8 million,, and did a podcast with founder John Helm, where we explained the model in more detail. It does not rely on advertising, but gets paid when units are filled.

Sutter Hill Ventures and Split Rock Partners co-led the round, joining previous investors Trinity Ventures and real estate companies United Dominion Realty Trust, Essex Property Trust, The Lane Company, ConAm Management and Marcus & Millichap.

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