Recent news of Compass real estate Malibu, the high-tech real estate company raising $75 million in its latest round of startup funding highlights the rapid growth and confidence from venture capital firms, and the incredible momentum of Compass.
The New York-based real estate company, founded by Executive Chairman Ori Allon and CEO Robert Reffkin, is now valued at more than $1 billion. Russell Grether & Associates is one of the founding partners of the Compass Malibu division.
Wellington Management led the most recent funding, they are one of the largest investment firms in the world. Founded in 1928, Wellington is regarded as a premier institution for long-term management of capital with nearly $1 trillion in assets.
Compass chose to partner with Wellington based on the quality of their investment team and their reputation for collaboratively partnering with management teams to build great businesses.
Other companies that Wellington has invested in include AirBnB, Pinterest, Docusign, WeWork and Warby Parker.
The demand for Compass at a premium to the previous round is a validation of Compass increasing strength in the real estate industry while many other firms are pulling back.
This influx of capital will power future phases of the company’s growth, from new geographies to innovative R&D.
We will also invest more in agent support, our culture and our people. We will continue to attract top talent, keep our standards incredibly high for the agents who join, build world-class technology and increase the visibility of our global brand.” – Ori Allon
This milestone is a reflection of the impressive results Compass staff and agents have collectively powered and the confidence that the investor community has in our ability to cement our place as the leader in our space.
I have tremendous confidence in our vision and believe we can build the real estate industry’s most disruptive company in a generation.” – Ori Allon
Some of the disruptive tools that Compass has the proprietary technology in Compass real estate Malibu and other States includes:
- A listing tool that helps agents find the best month to list a property, also the best pricing strategy per month.
- An open house and “show sheet’ app that helps agent easily and quickly create collateral, process that usually takes hours.
- A tool that helps agents create valuation and comparable market analyses.
- A mobile listing search app that gives national real-time market reports.
If you need a Malibu real estate agent, call Russell Grether at 310.994.4247.