From left to right: Compass COO Maelle Gavet, founder and executive chairman Ori Allon, and CEO Robert Reffkin.(Credit: Compass)
- Real estate startup Compass has raised $450 million from SoftBank at a $2.2 billion valuation.
- The money will be used to expand where Compass operates.
Compass, the New York-based startup with the goal of disrupting the real-estate market, has raised $450 million at a $2.2 billion valuation.
The new money, which comes from Japanese conglomerate SoftBank's $100 billion tech fund, will be used to bring the Compass platform to more cities than the 11 areas where it now operates.
“With the support of the SoftBank Vision Fund, we will be able to move quickly to execute our ‘Compass Everywhere’ vision, partnering with top agents and their clients in every major U.S. city," Compass founder Ori Allon said in a statement shared with Business Insider. "Just last week, we launched in Chicago with the number one agent team in the State of Illinois, and we are continuing to gain momentum with top agents everywhere.”
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