Japan's Softbank, which is aggressively investing in various areas such as shared economy, finance, and healthcare, will invest US $ 450 million (approx.)
Less than a month after the $ 100 million investment by Fidelity Investments, Compass has emerged as a promising start-up that will lead the world's ProTech market with the largest investment in the US real estate tech industry from Softbank. .
The company's corporate value, which was $ 1.8 billion a month ago, rose to $ 2.2 billion in the month.
Compass is a real estate brokerage start-up in New York in 2012, connecting landlords and tenants and providing an end-to-end platform for buying and selling real estate.
Real estate agents as well as individuals wanting to trade real estate are available.
Compass's platform was neatly arranged to make it easy to get at a glance, but it started to gain popularity by providing a wealth of information.
Although it is not the first real estate brokerage platform to be built, it has succeeded in becoming one of the leading companies in the market.The commission income of the first year real estate agents contracted with Compass increased by more than 25%.
Over the past year, the number of real estate agents registered on the compass has increased by more than 500%, and this year's total of 1600 transactions through the compass is worth $ 14 billion.
Compass's annual revenue is estimated at $ 350 million, and the estimated revenue for 2018 is expected to reach $ 800 million.
Compass, currently operating in 11 US cities, including New York, Los Angeles, Chicago, and Washington DC, plans to double its US business by investing in Softbank, and is considering entering the overseas markets. .
"We are able to build the world's largest ProTech platform through technology alliances with large, large-scale real estate agents," said Duck Allen Compass CEO. "With the support of Softbank Vision Fund, I will be able to run the compass platform in major cities in the United States and around the world. "
"Compass builds a differentiated end-to-end technology platform and collects a variety of data to support real estate agents and traders," said Justin Wilson, senior investment specialist at Softbank Vision Fund. "It is very likely to grow."
In addition to Softbank, Goldman Sachs, Ken Chanert American Express CEO and Mark Benny Off Sales Force CEO have invested in the compass.
Compass is currently competing in the US with companies like Homes.com, Redfin, Trulia and Zillow.
In the industry, Compass succeeded in attracting the largest investment ever in the industry, making it a stepping stone to become the world's largest proptech platform.
Investing in the PropTech field, which provides innovative services by incorporating advanced technology into the property business, is on the rise, according to US market research firm Insight Insight.
From 2011 to now, a $ 6 billion investment has been made to ProTech companies, of which 70% have been in the last two years.The number of ProTech companies that joined the Unicorn company increased from four to eight two years ago.
Compass joined the unicorn company last year.
