Qualia, a leading digital real estate closing technology company, declared that it has raised US$ 65 million in Series D funding held in December 2020, raising its total funding to US$ 160 million and valuing the five-year-old company above US$1 billion.
The latest round was led by existing investor Tiger Global along with existing investors 8VC and Menlo Ventures. Also, the company declared the acquisition of Adeptive Software which is the developer of ResWare and escrow production software well known within the real estate industry.
The pandemic caused the long-term value of a completely digital closing platform free to members of the real estate including mortgage business ecosystem, one that usually depended on manual, in-office and in-person processes. The startup and Adeptive have both been serving toward solutions for overcoming challenges through uniform technology infrastructure that businesses use to give a secure, integrated and end-to-end closing experience. Subsequently, a shared platform of record can simplify the homeownership process.
What Qualia has to say
Nate Baker, founder and CEO of Qualia said in a blog post, “Today, to a large degree, the real estate industry still operates like it did years ago before the internet. Qualia is at the very beginning of a decades-long effort to change that.”
“We’re very excited about what this acquisition and financing means for the next stage of [our] growth. Adeptive brings an almost 20-year track record of providing exceptional software and services to the title and escrow industry. “We’ve come a long way in our first five years, but there’s still so much more to be done”, he also added.
What Adeptive has to say
Bryan Buus, President of Adeptive said, “We are thrilled to bring Adeptive’s almost two decades of expertise to Qualia. The Qualia team’s focus on powering professionals to deliver a fantastic consumer experience for over five years now has sparked new innovation in our industry, and we’re incredibly excited to build the foundation for the future of real estate together.”
Qualia was founded in San Francisco by Joel Gottsegen, Lucas Hansen, Nate Baker in 2015. Its new class of cloud-based closing rooms give the entire infrastructure to streamline the home closing experience for real estate businesses and their customers. It contributes a suite of goods that bring together homebuyers and sellers, lenders, title & escrow agents and real estate agents upon one secure, remote platform.
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