Compass gets $450 million from SoftBank, real estate portal now valued at $2.2 billion
Less than a month after raising $100 million led by Fidelity, real-estate startup Compass is striking while the iron is hot. The company has now picked up an even bigger investment of $450 million, this time from the SoftBank Vision Fund, plus another $50M in secondary deals, to fill out a vision of its own: taking its real estate rental and sales platform global.
New York-based Compass is now valued at $2.2 billion post-money, up from $1.8 billion just four weeks ago, with $775 million raised to date.
The massive round essentially overlapping with the previous round — Allon was closing the SoftBank deal in Japan on the same day that the Fidelity investment was getting announced — is not the first notable financial milestone for the startup.
Compass set the pace on this front with its debut back in 2012, when it was called Urban Compass and announced funding of $8 million from an elite group of backers, at the time one of the largest-ever seed rounds for a startup (all things are relative: $8 million seems almost quaint now).