PropTech platform Compass has closed its Series E investment round on $100m.
Backers to the round included Fidelity Investments, IVP and Wellington Management, among others.
US-based Compass is an end-to-end solution that supports buying and selling workflow for the real estate sector. The platform helps to connect consumers to buy, sell or rent property across the US, connecting them with local agents to provide advice and support.
With the capital injection, Compass hopes to further the investment in to its technology, by combining transaction, listing and client data to provide actionable intelligence and recommendations for agents. The company will also use the equity to expand its operations across the US. Cities next on the company’s expansion plans include Atlanta, Austin, Charlotte, Chicago, Dallas, Houston, Philadelphia, Phoenix, San Diego, and Seattle.
IVP general partner Todd Chaffee said, “Their position at the intersection of technology and real estate gives them the unique opportunity to be the single largest holder of real estate data, ushering in a new realm of possibilities for agents and clients alike.”
This new line of equity brings total funding efforts to around $325m. Compass’ prior series ended on $75m with Wellington Management leading the round.
PropTech has seen a handful of big investments over the past month, with LendingHome securing a $57M Series C-2 round. Property management solution ResMan and property sale payment advance platform Nested also received big capital rounds, both netting around $36m.
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