Compass, a real estate marketplace startup raised $ 400 million in a sixth financing round, led by Softbank’s Vision Fund, which invested $450 million in the company in December 2017. Also participated in this round Qatar Investment Authority.
Wellington, QIA, IVP, and Fidelity also participated in this financing round. Founded in 2012 by Israeli Dr. Ori Alon with his business partner, Robert Rafkin, Compass has raised total capital of nearly $1.2 billion, the company said.
After the investment, Compass was valued at $ 4.4 billion, twice its value in the financing round last year. Compass operates a technology platform that enables users and agents to make informed decisions in real estate by presenting comprehensive information on pricing trends and market fluctuations in real time.
In addition, the platform presents detailed information on areas, neighborhoods, recent transactions, places of entertainment and education, and more.
“The company’s sales have grown at a pace that surprises us even – from $ 14 billion to $ 34 billion in 2018. The figures do not include the sales of the companies we acquired recently, whose impact will likely be seen next year,” Alon told Calcalist.
Last month, Compass told The Real Deal it is on track to hit $35.6 billion in sales volume this year, up from $14.8 billion in 2017. This summer, it picked up Pacific Union International, a $14 billion firm in San Francisco. Compass is also projecting $1 billion in 2018 revenue up from $370 million in 2017.