JetClosing raises $20m in Series A financing

JetClosing, a provider of digital real estate title and settlement transaction solutions, has raised $20m in Series A funding.

T. Rowe Price Associates led the round, with participation from PSL Ventures, Imagen Capital Partners and existing investors Trilogy Equity Partners and Maveron. The round comes a year after it raised $2m.

With its technology currently available to realtors and buyers in Seattle-Tacoma, Las Vegas, Denver and Phoenix markets, the company will use the new funds to expand to residential real estate markets across the United States.

Founded in 2016, JetClosing guides buyers and sellers through a ‘seamless, high-touch, professional closing experience’.

Through its app, agents are able to personalise their experience to further reflect how they like to work while buyers receive real-time notifications to track the progress of the close. Last year, the company introduced a title scoring system, JetScore, which is calculated based on public and user-submitted data, taking into account the type, nature, and severity of title curative issues.

“JetClosing is disrupting the residential real estate market with digital title and settlement services that make closing transactions simpler, more efficient, and more affordable,” said Henry Ellenbogen, portfolio manager of T. Rowe Price New Horizons Fund. “The firm is in its early stage of growth, and we believe it can be a much larger company as it expands its product suite and geographic footprint.”

The startup is led by co-founder and CEO Daniel Greenshields, who previously spent nearly 15 years helping run ShareBuilder, a company which digitised and sped up the process of buying stocks, bonds, mutual funds, 401(K) plans, and more.

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