Urban Compass, a 5-month-old startup that’s raised $33 million to date, is building on experience gained as a New York City rental search site to expand into home sales in that market.

Co-founder Ori Allon tells Business Insider that $25 million in recent funding will help the company double its staff to 200 within the next year, and launch a new city guide, “Urban Compass Network,” in the next few months. The company will then look to expand services to a second city, perhaps San Francisco, Allon told Business Insider.

Urban Compass follows in the vein of Redfin, providing technology to agents and consumers that it says improves the home-searching process, and it pays its agents salaries and bonuses based on customer satisfaction.

Among other services that it says distinguish it from traditional brokerages, Urban Compass lets consumers schedule apartment visits. The company supplies its agents — which it has branded “neighborhood specialists” — with a mobile app that “has every single detail that you need,” Gordon Golub, chief residential real estate officer at Urban Compass, previously told Inman News.

Urban Compass last week closed a $20 million funding round that valued the company at $150 million, Bloomberg News reported, citing an anonymous source “with knowledge of the terms” of the deal.

According to Business Insider, the company then raised an additional $5 million on the same terms. The $25 million in recent funding is on top of the $8 million that Urban Compass raised before its launch.

Although the Urban Compass website still proclaims that it’s in “beta,” its founders aren’t exactly neophytes.

Allon sold his first business to Google and his second to Twitter, while co-founder and CEO Robert Reffkin is a former White House fellow and Goldman Sachs alum.

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription