Real estate tech company Compass announced this morning it raised $100 million in a Series E investment round, bringing the total capital the company has raised to $325 million.

“Compass is building the infrastructure, data and tools that will power the next generation of this industry,” Ori Allon, founder and executive chairman at Compass, said in a statement. “This new funding will allow us to double down on our development of transformative technology, while fueling continued expansion into all of the top real estate markets in the country. Our long-term vision is for Compass to be everywhere as the world’s largest real estate platform.”

The company said it intends to use the money to create new technology and expand into every major city in the country.

Fidelity Investments, IVP, Wellington Management and other global investors were among the investors, according to the statement. Atlanta, Austin, Charlotte, Chicago, Dallas, Houston, Philadelphia, Phoenix, San Diego and Seattle are the cities targeted for the next wave of expansion.

In addition to expanding into new territories, the company is looking to add more agents in existing markets.

The company reported its valuation of $1.8 billion, an 80 percent increase over its Series D round in August 2016. Further, it reports being on track to complete 16,000 transactions and over $14 billion in sales this year, achieving more than $350 million in annual revenue.

Compass Real Estate Raises Another $100M From Investors

by Banker & Tradesman time to read: 1 min
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