New York, NY (PRWEB) July 12, 2016
Luxury tech-driven real estate platform Compass announces a banner first half of 2016 marked by milestones in company expansion, revenue growth, and agent achievement. The Company last raised investor financing in September of 2015, and plans to raise capital again in late 2016 in advance of its plan to expand internationally.
Compass beat revenue targets for the past six quarters, increasing revenue 8x year-over-year in 2015, and has continued its rapid growth through the first half of 2016. Compass recruited $80 million in annualized GCI in the first two quarters of 2016. Additionally, the company crossed the 800 agent mark across its 22 offices in 8 regions, with that group now generating over $6 billion in sales volume annually. The company continues to see a 99% retention rate among hired agents.
The success of Compass’ recruiting efforts and existing agent business growth has resulted in meaningful market leadership gains. Compass was named #5 in NYC by dollar volume of Manhattan listings by The Real Deal and Compass DC became #3 in market by sales volume. The company also had 14 agents and teams named among the top thousand real estate professionals in the USA in this year’s Wall Street Journal/ Real Trends ranking. The Leonard Steinberg Team, led by Compass President Leonard Steinberg, was the #1 top-producing team by dollar volume in the country.
To date, Compass has raised $135 million in investor funding, more than any other residential brokerage in the country, from key investors including Institutional Venture Partners, Thrive Capital, Founders Fund, 406 Ventures, Advance Publications, Inc., Kenneth Chenault, CEO of American Express and Marc Benioff, Founder and CEO of Salesforce.com.
Compass is a technology-driven real estate platform dedicated to creating a seamless and intelligent home buying, selling, and renting experience. Combining the country’s top agents, proprietary market insights, and integrated mobile and web technologies, Compass is developing the future of real estate decision-making. Compass has locations in New York City, Los Angeles, Santa Barbara, Washington DC, Boston, Miami, the Hamptons, and Aspen, and has raised $135 million in investor capital. For more information on Compass, and to view more than $5 billion in exclusive Compass properties, visit http://www.compass.com