Compass

Real estate startup Compass has now closed a $400 million round led by the Softbank Vision Fund and Qatar Investment Authority (QIA) with further participation from Fidelity, Insight Venture Partners and the Wellington Management Company.

This comes less than a year after Compass nabbed $450 million in a round still led by Softbank with the total amount raised by NY based Compass now coming at $1.2 billion.

This investment round came with a $4.4 billion valuation for the company marking a doubling of its most previous $2.2 billion valuation.

An announcement of this funding comes just on the same day fellow real estate startup Opendoor raised $400 million in new funding of which Softbank provided the lion share. The company which count operations in major markets including San Diego,  Nashville, Atlanta, Houston and Austin among several others is planning to expand into international markets with this investment providing capital for this growth.

Compass CFO Craig Anderson Compass

It’s grown its agent population to over 7,000 and is on track to hit $34 billion in sales volume this year, more than double last year’s $14.8 billion figure. In addition to international expansion, Compass gearing this funding towards doubling down on technology and acceleration of its vision of gaining 20% market share in the top 20 cities in the U.S. by 2020.

“Real estate is the largest asset class in the world, and we are excited to bring Compass technology to international markets,” Ori Allon, Compass Founder and Executive Chairman said in a statement. “Our incredible track record of growth in the U.S. validates our vision and sets us up for the global stage. The support of our investors will strengthen the Compass mission to help everyone find their place in the world by advancing our national and global expansion and continue building our agent productivity platform through technology and innovation.”

“Compass’s continued growth is being driven by their commitment to empowering agents with best-in-class technology that helps them expand their business and better serve consumers,” Justin Wilson, SoftBank Investment Adviser’s board representative also added. “We’re excited to continue to support Compass as they further invest in their data and technology capabilities to create a next generation platform for home transactions and ownership.”

“We believe Compass is well positioned in the real estate brokerage sector driven by technology. We look forward to partnering with Compass and existing shareholders in the next stage of the company’s growth. Our investment marks QIA’s ongoing commitment to investing in high quality technology, media and telecommunications assets,” a spokesperson for the Qatar Investment Authority also said in a statement.

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