Real-estate startup Compass has confidentially filed an S-1 registration statement with the U.S. Securities and Exchange Commission, the company said this week.
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The filing comes after residential real estate has seen prices rise as more people are working from home amid the COVID-19 pandemic. Closed sales of existing homes saw five months of consecutive gains until November, when they dipped 2.5 percent on a month-to-month basis, according to CNBC. Still, demand for homes is high and supply is low, with home sales up 25.8 percent year over year, CNBC reported in late December.
Remote working and low mortgage rates has made homebuying a hot area over the past several months, which is good for Compass. The company operates a tech-enabled real estate platform.
Most recently in the real estate world, Opendoor went public after merging with a special purpose acquisition company. Now, Compass is one of the first unicorns to file confidentially to go public in 2021.
Compass last had a $6.4 billion valuation, according to Crunchbase. The company raised about $1.52 billion in funding from investors including the SoftBank Vision Fund and IVP. It last raised money with a $370 million Series G in July 2019.
Correction: This story has been updated to reflect Compass’ most recent private valuation and total funding raised.
Illustration: Li-Anne Dias
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