New York based real estate listings platform Compass has raised a $100m funding round led by Fidelity Investments, IVP and Wellington Management
Over the last 24 months, Compass saw its agent population grow by 500 percent, while the company says it is on track to complete 16,000 transactions and over $14 billion in sales this year, with over $350 million in annual revenue. Notably, Compass to date has focused on the high end of the real estate market, rather than the rough-end-ready low end of shabby fixer-uppers and less expensive neighborhoods. It’s an approach partly borne out of the fact that the more expensive places are more likely to yield better returns to Compass, which takes a commission on the transactions. But also a data play. The thinking is that more value brings in more data and more need for better data. However, as the company continues to grow this will evolve, too, said Allon.