After raising another $400 million in Series F funding, NYC-based Compass has earned a $4.4 billion valuation. This valuation is double what it was just last December.
Compass Closed Another Monster Round of Funding
On Thursday September 27th, New York City-based real-estate startup Compass closed the $400 million Series F round led by SoftBank. Softbank also led Compass’s $450 million Series E which the company closed last year. The most recent round solidifies a total of $1.2 billion raised by the startup after 14 rounds of funding and gives the company a $4.4 billion valuation.
A Company Led By Two Exceptional Founders
Compass was founded in 2012 by Ori Allon and Robert Reffkin. Allon previously sold two companies to Google and Twitter while Reffkin served as Chief of Staff to the president of Goldman Sachs and served in the White House. Soon the pair were able to raise $8 million in seed round funding from a combination of Founder’s Fund, Thrive Capital, and Goldman Sachs, as well as individual investors, including American Express CEO Kenneth Chenault, and ZocDoc CEO Cyrus Massoumi.
Compass is the Right Company for the Right Market
Compass is a mobile app which pairs prospective buyers and sellers. With over 30 offices in 19 regions, Compass caters to the luxury high-end market. According to a company statement the new funds will be used to expand internationally as well as solidifying its position in the United States.
In referencing the latest round, company founder and CEO Ori Allon remarked, “Real estate is the largest asset class in the world, and we are excited to bring Compass technology to international markets. Our incredible track record of growth in the U.S. validates our vision and sets us up for the global stage. The support of our investors will strengthen the Compass mission to help everyone find their place in the world by advancing our national and global expansion and continue building our agent productivity platform through technology and innovation.”
Is an IPO in the Near Future?
While the company has yet to disclose profits it has mentioned that it seems on pace this year to more than double its 2017 sales volume. Such an increase would place the company at more than $34 billion in sales. Such enormous success has fueled only speculation that an IPO may be in the company’s near future.