Compass has now closed $550M in funding in two months. What does that mean for D.C.?


Compass founders Ori Allon and Robert Reffkin. The company has accepted a $450 million investment from the SoftBank Vision Fund.

The Compass capital infusion continues.

Fresh off finalizing a $100 million funding round that valued the New York-based real estate company at $1.8 billion, Compass announced Thursday an additional $450 million investment from the SoftBank Vision Fund.

Compass claims the raise to be the “largest real estate technology investment in U.S. history." The company, which has now raised $775 million, says it will use the capital to expand to every major U.S. city.

As the Washington Business Journal’s Andy Medici reported last month, based on its previous raise, Compass set ambitious plans to take 20 percent of the residential real estate market in Greater Washington, putting it up against the likes of Long & Foster and luxury competitors Washington Fine Properties and TTR Sotheby’s International Realty, along with local real estate companies Century 21 New Millennium and Coldwell Banker.

Chief Revenue Officer Rob Lehman said in November the company plans to deepen its presence in D.C. proper, including Georgetown, Logan Circle and Capitol Hill while also establishing new offices in Arlington, McLean, Alexandria and Bethesda.

With its technology — a series of apps and digital products — the company is trying to connect all aspects of the real estate business under one brand, whether it's connecting people with neighborhoods and houses that best suit them or the back-office tools agents need to manage their business. It is in essence a more expansive sort of customer relationship management system.

According to its latest release, Compass had grown its agent population by 500 percent over the last 24 months.

According to its website, the SoftBank Vision Fund seeks to invest in the technology sector. It is backed by Toyko-based SoftBank Group Corp. in addition to sovereign funds of the Kingdom of Saudi Arabia and the United Arab Emirates, and tech giants like Apple Inc., Foxconn Technology Group, Qualcomm Inc. and Sharp Corp.


Compass is a licensed real estate broker (01991628) in the State of California and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdraw without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. Exact dimensions can be obtained by retaining the services of an architect or engineer. This is not intended to solicit property already listed.