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.
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