Real estate company Blueprint Holding Co., a Nashville-based owner of InsurTech company Blueprint Title, raised $16m in Series B funding.
The round was led by Forté Ventures with participation from new investors Avanta Ventures, Bull City Venture Partners, Greenlight Re Innovations, and Gaingels, as well as previous investors Mouro Capital, Tribeca Early Stage Partners, Liberty Mutual Strategic Ventures, and Mucker Capital. As part of the Series B, Forté Ventures’ Hunter Hartwell joined Blueprint’s board.
The company will use the funds to accelerate its footprint expansion and to continue building out the Blueprint platform. The startup previously raised an $8.5m Series A in the final weeks of 2019.
Hartwell said, “Blueprint has taken a novel approach to the title insurance business by bringing together underwriting and agency services under one roof, and it speaks to the calibre of the team that they are able to simultaneously tackle the distribution, risk, and regulatory complexity of the combined entity.
“The Blueprint model is uniquely positioned to disrupt an industry that is large, yet not well understood. Their tech-forward approach provides transparent, consistent closing experiences across jurisdictions and lets professional real estate buyers and sellers get through the process more quickly than they can with other players. We are excited to partner with them as they grow and expand their business.”
Blueprint Title, which works in the title insurance space, provides professional residential real estate market players with a technology platform that gives visibility by offering a comprehensive view of all transactions in a single, secure dashboard. Through the platform, partners can upload documents digitally, view detailed transaction information, receive automated status updates and communications for collaboration, and e-sign. Blueprint Title is licensed in 26 states and operational in 19.
Partners include multi-state investors, lenders, wholesalers, PropTech startups, and builders who transact frequently and need complete transparency throughout the closing process of every transaction.
“The Blueprint experience stands out from the rest,” said Chad Collishaw, Partner at EPOC Real Estate, a real estate fund based in Austin, TX. “We buy and sell properties on a daily basis and not only does Blueprint operate across states, their combination of intuitive platform, digital process, expert in-house team, and competitive pricing helps us streamline what is typically a very cumbersome process.”
In conjunction with the funding, Blueprint has acquired an underwriter, Southwest Land Title Insurance Company, which is currently licensed in Arizona, Nevada, North Carolina, Tennessee, and Texas, with more states coming soon. With the deal, the company’s services and technology platform will make it easier for professional residential real estate buyers and sellers to take control of the entire closing process.
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