Compass lands $450M from SoftBank

Startup now valued at $2.2B, sources say

New York /
Dec.December 07, 2017 09:13 AM

From left: SoftBank’s Masayoshi Son, Robert Reffkin and Ori Allon (Credit: Getty Images and Instagram)

Compass — the startup brokerage and fundraising machine — said Thursday that SoftBank will invest $450 million in what the New York City-based agency claims to be the biggest investment in a real estate tech company to date.

The funding gives Compass a total of $775 million in investor capital. Just last month, it raised $100 million at a $1.8 billion valuation.

Sources said SoftBank’s investment values Compass at $2.2 billion, higher than tech-based Redfin, which made its public debut earlier this year and has a market cap just over $2 billion.

Compass will use the $450 million from the SoftBank Vision Fund to expand nationwide. This fall, CEO Robert Reffkin said the firm would have 20 percent market share in 20 major markets by 2020.

SoftBank is also a large backer of WeWork. It pledged to invest over $4 billion in the co-working company, which has a valuation of about $20 billion.


Related Articles

arrow_forward_ios
Eric Gordon
Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world
Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world
Big Tech locations in NYC
MAP: Here’s a look at all the Big Tech locations in NYC
MAP: Here’s a look at all the Big Tech locations in NYC
What will proptech look like in 2019 and beyond?
What will proptech look like in 2019 and beyond?
What will proptech look like in 2019 and beyond?
From left: 80 Columbus Circle with Robert Stiller and 737 Park Avenue with Hamad bin Khalifa Al Thani (Photos via Google Maps, Agnovos, State of Qatar, Godsfriendchuck/Wikimedia)
Mandarin Oriental, 737 Park units sell at substantial losses
Mandarin Oriental, 737 Park units sell at substantial losses
Steve Cohen and 151 East 158th Street (Getty, Google Maps)
Steve Cohen’s $30M condo sells above asking — after a 74% cut
Steve Cohen’s $30M condo sells above asking — after a 74% cut
Nicole Oge, Casa Blanca founders Hannah Bomze and Erez Zaurer (Getty, Casa Blanca)
Former Elliman, WeWork marketing chief joins “Bumble for homes” startup
Former Elliman, WeWork marketing chief joins “Bumble for homes” startup
470 Broome Street  and Rayo Withanage (Photos via Saltzman Architects, P.C. and Withanage)
From Picasso’s estate to squatting in Soho: The 470 Broome Street affair
From Picasso’s estate to squatting in Soho: The 470 Broome Street affair
Tenants are singing longer leases to lock in low rent. (Getty)
Tenants locking in longer leases as apartment rents rise
Tenants locking in longer leases as apartment rents rise
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...