Real estate platform Compass raises another $370M on a $6.4B valuation en route to an IPO
The real estate market regularly goes through ups and downs, but today comes big news for a startup in the space that has built a platform that it believes can help all players in it — buyers, sellers and those who help with the buying and selling — no matter what stage of the cycle we happen to be in.
Compass — a company that has built a three-sided marketplace for the industry, along with a wide set of algorithms to help make it work — has raised a $370 million round of funding, money that it plans to use to continue expanding geographically (within existing markets in the U.S. such as New York, Connecticut, Philadelphia, Washington, Atlanta, SF and LA and other areas), as well as for more tech and product development. Sources tell me that it’s also now eyeing up an IPO, likely sometime in the next 24 months.
“From day one we knew, when we had just a small amount of people at the company, we had a very clear focus,” co-founder and chairman Ori Allon said in an interview. “We wanted to bring more tech and data and transparency to real estate, and I think it’s
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