“This funding will provide us with additional resources to accelerate our growth into new markets and inject transformative technology to improve the experience for consumers and agents,” said Ori Allon, Founder and Executive Chairman of Compass. “When it comes to technology, the real estate industry is fragmented and regional systems don’t talk to each other. There is no reason the real estate process shouldn’t be transparent, convenient, expedient, and intuitive. Compass is aiming to change that.”
Launched in New York in 2013, Compass has rapidly expanded throughout the country in the last 18 months to Washington DC, Miami, Boston, the Hamptons, Cambridge, Beverly Hills, Malibu, Pasadena, Santa Barbara, and Aspen. The firm plans to open in San Francisco this fall.
Compass now operates 24 offices nationwide and represents approximately $7 billion in annual sales. This year, REAL Trends/ The Wall Street Journal named Compass’ Leonard Steinberg Team the #1 top-producing agent team in the country.
In addition to unveiling its technology, Compass has achieved several milestones in the past year including:
- A national new development division with a $3+ billion pipeline headquartered in New York and Los Angeles
- Launching a global sports and entertainment division catering to the specific real estate needs of celebrities and professional athletes
- Becoming the #4 largest brokerage in NYC, #1 in East Hampton, #3 in DC and #2 in Cambridge by sales volume
- Transacting the 5th largest residential sale in USA history – a $110 million East Hampton estate on Lily Pond Lane
Compass was founded by Allon, who sold two previous companies to Google and Twitter, and business partner Robert Reffkin, a former White House Fellow and Chief of Staff to Goldman Sachs’ President & COO.