Funding Will Expedite Compass's Expansion into New Markets
NEW YORK, NY September 15, 2015 Compass, a technology-driven real estate platform, has closed a new round of funding, company executives announced today. The new $50 million funding round, led by Institutional Venture Partners (IVP), comes on the heels of the company's $40 million round in July 2014. Compass's total capital raised to date is $123 million.
The round also included new investments from existing key investors including Thrive Capital, Founders Fund, 406 Ventures, Advance Publications, Inc. (the parent company of Cond Nast), Kenneth Chenault, CEO of American Express and Marc Benioff, Founder and CEO of Salesforce.com.
This new funding will enable us to accelerate our expansion into additional markets, bringing our best-in-class technology to new agents and clients. The additional capital will also allow us to build out our industry leading engineering, product and design teams, which is a testament to our company's commitment to long-term growth, said Ori Allon, Founder and Executive Chairman of Compass. We are excited to partner with Institutional Venture Partners, which has a long track record of success helping disruptive technology companies like Dropbox, Kayak, Snapchat and Twitter scale and become leaders in their field.
Compass has developed exceptional technology to improve the real estate experience and is led by a talented management team, whose vision and commitment to innovation has quickly established the company as a leader in the market, said Todd Chaffee, General Partner at IVP. We are excited about their long-term strategy and are proud to partner with Compass as it continues its rapid expansion.
Compass plans to bring its scalable and proprietary technology to additional cities in the coming months building on the company's recent meteoric rise. The company is actively exploring opportunities in markets that include Atlanta, Boston, Chicago, Dallas, Houston, the Hamptons, Los Angeles, Philadelphia, Phoenix, San Diego, San Francisco and Seattle.
Just last month, the company announced its entry into the South Florida market, opening its first branch in Miami.
Allon continued, Our proprietary data-driven technology enables clients and agents to interact seamlessly, bringing valuable intelligence to the real estate decision-making process. Long term, we envision scaling these highly-sophisticated insights to players across the real estate value chain, expanding our opportunities for future success and growth.
In February of this year, Compass took a milestone step in its national expansion by launching its first office outside New York, in Washington, D.C. Just months after launching the new office Compass has tripled the size of its DC operation and now has over 80 agents, 15 of whom were recognized on Washingtonian's Top Agent List this year. This past April, Compass D.C. was the #1 sales office in the region as measured by dollar volume of properties bought and sold.
Our unprecedented success in less than one year of operation in Washington, D.C. illustrates the dynamic nature of Compass, Allon said. By combining our first-class client service, unrivaled technology and our ability to transform data into actionable intelligence, we have quickly become a driving force in the D.C. real estate market.
Meanwhile, Compass has continued to experience explosive growth in New York City, doubling its exclusive listings to over $1 billion, securing $2.5 billion in new development and increasing its agent population by more than 100% this year alone.
Since launching, our team has created a culture of collaboration, diversity and excellence, added Allon. This environment has helped us achieve a 100% agent retention rate, a revolutionary trend in the real estate industry, and one that we are extremely proud of.
About Compass:
Launched in 2013, Compass is a technology-driven real estate platform with offices in Manhattan, Brooklyn, Washington, D.C. and Miami, which combines exceptional agents with best-in-class technology to make the process of buying, selling and renting a home intelligent and seamless.
Named the Mid-Size Business of the Year in 2015 by the Manhattan Chamber of Commerce, Compass was founded by Ori Allon who sold his previous companies to Google and Twitter and Robert Reffkin formerly Chief of Staff to the President and COO of Goldman Sachs. Compass is the first residential brokerage in the country to offer a proprietary app exclusively for its agents, in addition to the company's integrated consumer web and mobile platforms.
For more information, please visit www.Compass.com
About Institutional Venture Partners (IVP)
With $5.4 billion of committed capital, Institutional Venture Partners (IVP) is one of the premier later-stage venture capital and growth equity firms in the United States. Founded in 1980, IVP has invested in over 300 companies and 102 have gone public. IVP is one of the top-performing firms in the industry and has a 34-year IRR of 43.2%. IVP specializes in venture growth investments, industry rollups, founder liquidity transactions and select public market investments. IVP investments include such notable companies as AppDynamics, ArcSight (HPQ), Buddy Media (CRM), ComScore (SCOR), Datalogix (ORCL), Domo, Dropbox, Dropcam (GOOG), Fleetmatics (FLTX), HomeAway (AWAY), Kayak (PCLN), LegalZoom, LifeLock (LOCK), Marketo (MKTO), MySQL (ORCL), Netflix (NFLX), Omniture (ADBE), OnDeck (ONDK), Prosper, Pure Storage, RetailMeNot (SALE), Shazam, Slack, Snapchat, SoundCloud, Supercell, Synchronoss (SNCR), The Honest Company, Twitter (TWTR), Zenefits, and Zynga (ZNGA). For more information, visit http://www.ivp.com or follow IVP on Twitter: @ivp.
--
Most recent headlines
06/10/2025
France T l visions, France's leading broadcaster, has received the 2025 EBU ...
04/09/2025
Monumental Sports & Entertainment (MSE), in collaboration with Dalet, has been a...
30/08/2025
WASHINGTON The Federal Communications Commission has adopted its FY 2025 Regulatory Fees Order that establishes the regulatory fee rates for the broadcast stati...
29/08/2025
Australian Red Cross and SBS launch training to help workplaces in the fight aga...
29/08/2025
The National Film and Video Foundation (NFVF), an agency of the Department of Sp...
29/08/2025
L3Harris Technologies has concentrated decades of expertise across the entire enterprise to develop affordable and reliable best-of-breed solutions to rapidly c...
29/08/2025
BURBANK, Calif. The CW Network and the Pac-12 Conference have announced a new media rights deal that will extend their broadcast partnership beginning with the ...
29/08/2025
NEW YORK Gracenote has released a new analysis of its global video dataset showing that the number of FAST channels grew nearly 14% from Q1 2025 and 76% since 2...
29/08/2025
SAN JOSE, Calif. Harmonic has announced a series of improvements to its live sports streaming solution that the company said will improve fan engagement, protec...
29/08/2025
NEW YORK and LOS ANGELES Fox Corp. and YouTube TV last night announced a renewal of the full portfolio of Fox networks, including Fox News Channel, Fox Business...
29/08/2025
Budapest, Hungary, August 2025 - The integration of Microsoft Teams Rooms (MTR) with Lightware's Taurus universal matrix switchers delivers a new level of f...
29/08/2025
Frequency, the engine behind many of the world's best-known streaming television channels, today announced it will launch Studio Live, a next-generation uni...
29/08/2025
In an era when AI and cyber resilience are essential, Scality will mark the 10th anniversary of Scality Day on October 16, 2025 in Paris. This flagship global e...
29/08/2025
Disguise's In-House Creative and Technical Teams Pre-Visualised, Programmed and Delivered Content for the Experience, All Powered by EX 3+
Technology solu...
29/08/2025
Disguise will be demonstrating the latest workflows for TV, film and live events on a number of partner booths at the show
Disguise, the industry-leading tech...
29/08/2025
STOCKHOLM, Sweden Accedo will showcase Accedo Compose, its AI agent-powered modular orchestration layer that assists streaming providers in transitioning client...
29/08/2025
LOS ANGELES Cineverse has announced that it is working with Xperi to bring four of its streaming channels to automobiles for the first time as part of the DTS A...
29/08/2025
DALLAS & ATLANTA Gray Media has announced an agreement with the sports streaming service Victory+ to simulcast 17 Dallas Stars NHL games in 15 television market...
29/08/2025
NEW YORK AND CULVER CITY Comcast NBCUniversal and Amazon have announced new and extended distribution agreements that will expand the content available on their...
29/08/2025
FOOTHILL RANCH, Calif. RED Digital Cinema will feature its Cine-Broadcast Module supporting live broadcast workflows during IBC2025, Sept. 12-15, at the RAI Ams...
29/08/2025
29 Aug 2025
Kyivstar Rings Opening Bell at Nasdaq Marking Landmark Listing and ...
29/08/2025
More than half of all NFL games live on Sky for the first timeFriday 29 August 2025
Sky Sports has announced a new three-year deal with the NFL, extending its ...
29/08/2025
Back to All News
RIV4LRIES: The Trailer of the New Series With Samuele Carrino ...
29/08/2025
Get ready for an inspiring and emotional insight into the world of competitive Irish dancing with My Story: Tomi Champion of the World airing on RT 2 this monda...
29/08/2025
RT has today announced that David McCullagh is to be the new presenter of RT Radio 1's flagship Today programme, which airs every weekday at 10am, replaci...
28/08/2025
By Kristin Feeley, Director, Documentary Film & Artist Programs
If you want to tell untold stories, if you want to give voice to the voiceless, you've got ...
28/08/2025
Directed by Steven Bognar and Julia Reichert, Sundance Institute-supported Amer...
28/08/2025
Corridos have been a cornerstone of M sica Mexicana for generations, telling stories rooted in everyday life. Now, a new chapter is taking shape: motivational c...
28/08/2025
Los corridos han sido un pilar de la M sica Mexicana durante generaciones, contando historias enraizadas en la vida cotidiana. Ahora, un nuevo cap tulo est tom...
28/08/2025
Earlier this month, we promised our Verano Forever party would bring the heat, a...
28/08/2025
L3Harris will provide the Polish F-16V fleet with the Viper Shield electronic warfare system as part of an upgrade program....
28/08/2025
Bilbao, August 26, 2025 - AgileTV, an international television and video technol...
28/08/2025
Ken Wilkinson is an Emmy Awards nominated New York audio engineer who specialises in production sound mixing for film, commercial, episodic and documentary work...
28/08/2025
NEW YORK FuboTV today announced that it will launch Fubo Sports, a skinny bundle that focuses on sports with a subscription price of $56 monthly....
28/08/2025
NEVADA City, Calif. At IBC2025, Sept. 12-15 at the RAI Amsterdam, Telestream will debut its new Global Ingest strategy, introducing a next-generation ingest arc...
28/08/2025
Dr. Rhoda Bernard Releases Groundbreaking Debut Book on Accessible Arts Educatio...
28/08/2025
TAG Video Systems, the leader in software-based IP end-to-end workflow monitoring, deep probing, and real-time visualization, has named Oliver Gappa as Sales Di...
28/08/2025
AI-based voice enhancement will be among a series of innovations making their IBC 2025 debut on the DHD stand B46 in Hall 8 at the RAI Amsterdam Convention Cent...
28/08/2025
Telef nica Servicios Audiovisuales (TSA), the leading system integrator and service provider in the media sector in Spain, with the support of Appear, the globa...
28/08/2025
To fully immerse sailing fans in the world's biggest offshore yacht race, production company, Optical Media turned to LiveU's On-site Production solutio...
28/08/2025
Working with Calrec on its most recent overhaul, radio and television broadcaster, WNED has migrated to a fully IP infrastructure with multiple Type R consoles,...
28/08/2025
Cleeng, the Subscriber Retention Management (SRM ) inventor, has unveiled Cleeng Pro, the first-ever direct-to-consumer (D2C) subscription management platform t...
28/08/2025
Zixi, the industry leader in live broadcast-quality video over IP, today announced that French media distribution platform OKAST has selected Zixi to enable rel...
28/08/2025
Solution offers a streamlined, speaker-free architecture to optimize integration with premium external loudspeakers and advanced loudness metering
Nixer Pro Au...
28/08/2025
Cinegy, the premier provider of software-defined television technology, has announced a strategic partnership with Vision One Touch Film Production Services L.L...
28/08/2025
Telestream, a global leader in media workflow technologies, will debut its new Global Ingest strategy at IBC2025, introducing a next-generation ingest architect...
28/08/2025
Tier 1 operator selects Broadpeak to power high-performance, unified CDN solution across Norway, Sweden and Finland
Broadpeak, a leader in streaming and moneti...
28/08/2025
Leading video software provider, Synamedia, today announced that 24 Frames Digital, one of India's leading live event streaming service providers, has chose...
28/08/2025
Meet VisualOn at IBC2025: See What's Next in AI-Powered Video Streaming Join VisualOn at IBC2025 and discover how our AI-driven Optimizer and advanced media...
Funding Will Expedite Compass's Expansion into New Markets
