Compass Announces $370 Million in New Funding
On Tuesday, Compass announced its $370 million Series G round of fundraising at a valuation of $6.4 billion -- a 45% increase in valuation in 10 months. This brings its total capital raised to more than $1.5 billion.
New and returning investors cited Compass’ consistent growth, proven scale across the largest real estate markets, and proprietary technology as the key reasons why they invested. They view Compass as uniquely positioned to build a real estate platform that makes the search and selling experience intelligent. This helps us, as agents of Compass, to seamlessly deliver superior results for you, our client.
This round of financing positions Compass to:
Fuel our technology investments and advancements, including hiring additional Product & Engineering talent and accelerate software development, such as our upcoming launch of a revamped consumer search experience, which will help me get the best offer for your home.
Further invest in programs like Compass Concierge, which empowers home sellers to sell their home faster and for more money by fronting the cost of home improvement services like staging, painting and more, which will help sell your home faster and for a better price.
This investment brings us steps closer to realizing our mission to help everyone find their place in the world, and the Maison International Team is excited for this next chapter!
Watch Compass CEO Robert Reffkin discuss the funding on CNBC below.