Compass Announces $400 Million in Series F Funding
Real estate technology company Compass closed a $400 million Series F financing round led by the Softbank Vision Fund and Qatar Investment Authority, with participation from Wellington, IVP, and Fidelity.
Since its founding in 2012, Compass is committed to reducing the friction in selling, buying, or renting a property by providing real estate agents with a set of tools to increase efficiency and sales volume. According to the company, in 2018 alone, Compass tripled their agent population to 7,000, and launched in San Diego, Dallas, Seattle, Philadelphia, and Atlanta, with plans to launch in Austin, Nashville, and Houston. Compass claims it’s on track to hit over $34 billion in sales volume this year, doubling its 2017 sales volume of $14.8 billion. Compass also became the #1 independent brokerage in California after announcing its acquisition of Pacific Union International.
This investment brings the total capital raised to $1.2 billion and will be used to expand Compass both across the U.S. and internationally, and increase its investment in technology.