Brokerage

Compass gets $1 billion-plus valuation in latest funding round

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Compass, a high-tech brokerage, has raised an additional $75 million in a funding round that values the company at more than $1 billion, according to a person familiar with the deal. Compass will use the truckload of cash to "to accelerate our growth into new markets and inject transformative technology to improve the experience for consumers and agents,” Ori Allon, founder and executive chairman of Compass, said in a statement. The latest funding round caps a string of others that have stunned industry observers and helped the firm aggressively muscle into new markets. Where's the money going -- and how much is there? Compass has used its treasure chest not only to churn out what it casts as cutting-edge tools for agents and consumers but also to allegedly poach columns of elite agents from competitors, roiling some market incumbents and resulting in some lawsuits.  Launched in New York City in 2013, Compass claims nearly 1,000 agents in eight luxury markets and...