With $400M in new funding from SoftBank, is Compass the new WeWork?

by Liz Warren
September 27, 2018
Compass
image via facebook

 WeWork has come to be known as one of the major players in NYC tech raising massive funding round after massive funding round, and now, it’s real estate platform Compass that’s making headlines. The company announced a $400 million Series F less than a year after raising a $550 million Series E.

The latest investment was led by SoftBank — which also led WeWork’s $500 million venture round last August and contributed an extra $1 billion in debt financing just last month  — with participation from Fidelity, IVP and Qatar Investment Authority.

The funding will be used to expand internationally — which is how WeWork used SoftBank’s funds last year. It will also use the investment to grow domestically and enhance its technology.

Our incredible track record of growth in the U.S. validates our vision and sets us up for the global stage."

“Our incredible track record of growth in the U.S. validates our vision and sets us up for the global stage,” Compass co-founder Ori Allon said in statement. “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.”

Founded in 2012, Compass is an end-to-end real estate platform that supports the entire buying and selling lifecycle. It currently operates in 17 regions across the country.

The new investment brings the company’s total funding amount to $1.2 billion, with an estimated valuation of $4.4 billion.

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