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Urban Compass snags $20M in funding

Ori Allon
Ori Allon

Real estate tech startup Urban Compass said it has raised $20 million since launching in May.

Its first round of fundraising brings the total in its coffers to $28 million, including initial seed money. Investors include media company Advance Publications — parent company of Condé Nast — and venture capital firms such as New York-based Thrive Capital and San Francisco-based Founders Fund.

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Urban Compass, founded by tech entrepreneur Ori Allon and former Goldman Sachs executive Robert Reffkin, combines a StreetEasy-style listings website with a team of in-house “neighborhood specialists,” who function much like real estate brokers.

Jason Saft, a Town Residential broker, and his former Citi Habitats colleague Gordon Golub both joined Urban Compass this summer, as The Real Deal reported. Another sign of success: Allon bought an Israeli basketball team in July. — Mark Maurer

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Conde NastUrban Compass