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, the residential brokerage firm backed by , on Monday publicly filed securities documents for its IPO that revealed rising revenues paired with smaller losses for the New York-based startup.

Compass its revenue for the year ended Dec. 31, 2020, was $3.72 billion, up 56 percent from the year prior. At the same time, its losses fell from $388 million a year earlier to $270.2 million in 2020. 

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The company plans to list on the New York Stock Exchange under the ticker symbol COMP. It listed the size of the offering at $500 million, though that’s a placeholder amount that will likely change.

Compass’ most recent private valuation was $6.4 billion, according to ¸½½üÉÏÃÅ data. The company has raised about $1.52 billion in funding from investors including the and . Its most recent funding was a $370 million Series G in July 2019. 

So far in 2021, venture-backed startups in the real estate and real estate investment space have raised at least $962 million in funding globally, according to preliminary ¸½½üÉÏÃÅ data. The sectors have raised more than $8.7 billion in funding globally since March 2020.

That funding boom coincides with a surge in U.S. homebuying that pushed existing home sales to a 14-year high in 2020, according to the National Association of Realtors. 

Other companies in the space that have recently raised significant sums of venture funding include , which operates a rent-to-own homebuying business and last month raised a $110 million Series C investment led by . Another company in the space, , went public in December via a merger with a special purpose acquisition company. 

Compass confidentially filed plans to go public in January. The underwriters for the offering are , and .

— Sophia Kunthara contributed. This story was updated to clarify that the listed size for the offering is a placeholder that’s likely to change.

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