Tech-Enabled Real Estate Marketplace Compass Raises $370 Million

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Compass

Compass, the New York-based real estate tech startup has picked up a fresh round of financing worth $370 million as part of the Series G funding. The current capital round which takes the valuation of the company to $6.4 billion saw participation from the main backers like Canada Pension Plan Investment Board, Dragoneer Investment Group, and SoftBank Vision Fund.

Prior to this round, the firm had received $400 million in Series F funding from Qatar Investment Authority and SoftBank Investment Advisers. The latest funding takes the total amount raised by the firm to $1.6 billion. AVG Women's Fund, Glynn Capital Management, Fidelity, Waterman Ventures, Fission Ventures are among the other notable investors in the firm.

compassLaunched in 2012 by Ori Allon, Robert Reffkin, Ugo Di Girolamo, the company has developed a real estate brokerage platform which makes buying, selling, and renting homes in the United States easier. The firm plans to use the freshly raised capital to expand in the country with the cities like New York, Connecticut, Philadelphia, Washington, Atlanta, SF, and LA being the target.

Ori Allon, the co-founder, and CEO talking about the growth of the firm said, “It has been incredible to see the growth of our Product & Engineering team, including the addition of Joseph Sirosh as CTO. We are excited to partner with new investors, and deepen our relationship with our existing partners to accelerate our growth and further our technology advancements.”

Notably, Softbank CEO Masayoshi Son had said that the firm is going to be a great unicorn in the coming times. With the fresh funding, the company sure is looking only at the top right now.

 

Image Courtesy : cnbc, compass

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