Compass Surpasses $1B Valuation, Becoming One Of The Newest Unicorns To Shake Up Real Estate Market
Real estate startup Compass completed another round of funding this week, pushing its value to more than $1B.
The hybrid tech and residential brokerage raised $75M in Series D funding, led by investors like mutual fund operator Wellington Management Co and a handful of venture capital firms, including Institutional Venture Partners. Compass’ more than $1B valuation makes the New York-based company the latest unicorn, Bloomberg reports.
Wellington is a big unicorn backer, having invested in startups like Airbnb and WeWork in the past—though this was the firm's first investment in Compass, The Real Deal reports. During its last round of funding in September, Compass raised $60M, pushing its valuation to $800M. The brokerage plans to use the new resources to accelerate growth into new markets and to improve its tech platform for consumers and agents alike. Already the firm has expanded to 24 offices throughout the country in markets like Miami and DC. [Bloomberg] [TRD]