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Join us for a discussion on changes in market demographics, suppliers and how focusing on customer experience and a few simple steps during the mortgage loan process can close deals 3x faster.

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InvestmentsReal EstateFintech

Compass raises $370 million, now valued at $6.4 billion

This announcement comes on the heels of a stunning lawsuit

Growth is nothing new for real estate tech company Compass. Less than a year ago, the company purchased the fifth-largest brokerage in the U.S., Pacific Union, and more than tripled its valuation in less than two years. And while that growth was recently brought into question in a lawsuit filed by competitor Realogy, the company raised $370 million in its latest funding round, the Wall Street Journal reports.

While announcing its latest funding round on Tuesday, the company shared that it increased its total capital raised to more than $1.5 billion since launching in 2012.

In November 2017, Compass was valued at $1.8 billion, and that was almost doubled from the previous year. That exponential growth has continued, as Compass now reports a valuation of $6.4 billion. This is thanks to investors such as Dragoneer Investment Group, SoftBank Vision Fund, Canada Pension Plan Investment Board and the Qatar Investment Authority, all of whom contributed in the latest funding round.

The $370 million figure is substantial, but it is not the largest sum brought in from one of Compass’ funding rounds. Shortly after purchasing Pacific Union last year, Compass announced it raised $400 million in a single funding round, the majority of the funds coming from faithful investor SoftBank Vision Fund, the investment arm of the Japanese technology company SoftBank. The company invested $450 million in Compass the previous year as well. 

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