The five-year-old real estate tech company’s non-brokerage real estate assets were acquired by New York-based proptech Compass in August, Properly CEO Anshul Ruparell announced in a LinkedIn post. Ruparell said an unnamed “Canadian real estate innovator” acquired Properly’s Canadian brokerage and search portal separately. Compass declined to disclose the financial terms of the deal and Properly did not respond to a request for comment. (The Logic)

Talking point: While Ruparell said on LinkedIn he’s exiting Properly, Compass spokesperson Devin Daly Huerta told The Logic in an email that Properly’s co-founders will remain on as consultants. Properly has raised over $190 million to date in equity and debt capital from investors including Bain Capital Ventures, Intact Ventures, Golden Ventures, Wealthsimple’s Michael Katchen and Spencer Rascoff, co-founder of Zillow. The company laid off 71 employees in November 2022, attributing the cuts to “one of the most significant corrections in the history of the Canadian housing market.” Compass has no current plans to expand into Canada, Huerta said.