Compass has announced a $400 million Series F financing round, with the company eyeing growth internationally, as well as continuing to invest in its technology, according to a company release. With the additional capital, it is closing in on $1.2 billion raised in total, and its 2020 goal—20 percent marketshare in the top 20 cities in the U.S.—is on the fast track.
“Real estate is the largest asset class in the world, and we are excited to bring Compass technology to international markets,” says Ori Allon, founder and executive chairman of Compass. “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.”
Softbank Vision Fund and Qatar Investment Authority (QIA) led the round. Other investors included Fidelity, Institutional Venture Partners (IVP) and Wellington Management.
Compass, founded in 2012 and headquartered in New York City, is led by Allon and CEO/Founder Robert Reffkin. With more than 7,000 agents, the company’s coast-to-coast reach includes the Bay Area, Chicago, Los Angeles, Miami, New York and Washington, D.C. The company estimates it will hit $34 billion in sales volume this year, and it intends to open in Austin and Houston, Texas, and Nashville, by the end of the year.
In August, Compass acquired Pacific Union International, No. 5 in RISMedia’s 2018 Power Broker Report & Survey for sales volume.
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