3 years ago261Real-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 home-buying 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 $6.37 billion valuation, according to Crunchbase. The company raised about $1.6 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.
Illustration: Li-Anne Dias
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