Real Estate Tech Company Compass Raises $370 Million

The new round brings the total capital raised by Compass to date to over $1.5 billion

Adi Pick and Hagar Ravet 13:5930.07.19
TAGS:

 

New York-based real estate company Compass Inc. announced Tuesday it has raised $370 million. The latest round brings the total capital raised by Compass to date to over $1.5 billion.

 

The Canada Pension Plan Investment Board (CPPIB), San Francisco-based Dragoneer Investment Group LLC, Qatar's state-owned holding company The Qatar Investment Authority (QIA), and Softbank Vision Fund, participated in the round.
Compass' Maelle Gavet, Ori Allon and Robert Reffkin. Photo: PR
Compass' Maelle Gavet, Ori Allon and Robert Reffkin. Photo: PRצילום: יחצ

 

Founded in 2012 by Robert Reffkin and Israeli entrepreneur Ori Allon, Compass operates a digital portal for buying, selling, and renting real estate. Compass operates in cities across the U.S., including New York, San Francisco, Los Angeles, Chicago, Washington, D.C., and Miami. Compass had said on multiple occasions that it intends to expand to all of the largest 20 cities in the U.S.

 

The company employs a team of some 3,000 people, according to company statements.

 

Since last summer, Compass has gone on somewhat of an acquisition-spree, acquiring companies such as Bay Area real estate company Alain Pinel Realtors in March, Pacific Union International Inc., a San Francisco-based luxury real estate company in August 2018, and San Francisco-based brokerage firm Paragon Real Estate Group in July 2018. In October, Compass acquired the research and development division of digital shopping platform Spring (incorporated as Jello Labs Inc.) for an undisclosed amount.