– Sixth Development Center globally and third IDC outside US
– IDC to drive cutting-edge technology solutions powering digital innovation
Mumbai, 17th May 2022: Compass Inc. (NYSE: COMP), a real estate technology aggregator Headquartered in New York, United States announced the opening of its third India Development Center (IDC) in Gurugram, one of India’s top technology and business hubs. IDC Gurugram will be Compass’s sixth development center globally and the third international development center outside of the United States, with Compass IDC, Hyderabad and Bengaluru being the first and second respectively. The new state-of-the-art innovation and technology center will leverage engineering talent in India to develop cutting-edge solutions using Data, AI, ML and Cloud.
Anuj Mathur, Sr. Director of Engineering, Compass, Inc. said, “Being a new-age real estate technology platform, it’s pivotal for us to continuously evolve and this is where India’s technology talent plays a pivotal role for us. The Gurugram IDC, reinforces our commitment to not only strengthen our technology talent pool but also leverage it to build new-age technology solutions that empower our agents to deliver exceptional service to seller and buyer clients.”
During the first quarter 2022, Compass recorded $1.4 billion in terms of revenue with an increase of 25% year-over-year. Last year, Compass agents did $250 billion worth of home transactions across the US out of which Compass had $6.4 billion worth of commission revenue. Since its inception, Compass has been able to capture 5.8% of the United States’ real estate market share.
Compass established its first India Development Center in Hyderabad followed by Bengaluru and now in Gurugram to develop its footprint in India. Compass IDC’s existing technical talent pool has been instrumental in the creation of cutting-edge technology-based products in a variety of sectors, including CRM, Marketing, Client Servicing, 3D Virtual Tours, and more. In fact, Compass’s Real Estate Knowledge Graph, an AI-based platform capable of detecting correlations between previously unrelated data sets, is fully based in Hyderabad.