CertifID has revealed that it has raised $20m across its Series B funding round, as it looks to protect the real estate industry from fraud.
The Texan wire fraud prevention company raised the capital in the round led by Arthur Ventures, who also participated in CertifID’s $12.5m Series A in May 2022.
The announcement comes hot on the heels of a strong market reaction to the US company’s fraud protection software, insurance, and recovery services.
Tyler Adams, CEO at CertifID, said: “CertifID’s mission is to be the frontline defence for consumers and businesses against the growing wave of wire fraud plaguing the real estate industry.
“Since our founding, we have protected billions of dollars from attempted fraud attacks, as well as helped recover over $60M in stolen funds for victims. This investment will help us continue to safeguard against the intensifying risks of fraud.”
CertifID safeguards billions of dollars every month from fraud with advanced software, insurance, and proven recovery services.
Trusted by title companies, law firms, lenders, realtors, home buyers and sellers, and others, CertifID provides further peace of mind with up to $1M in direct coverage on every wire it protects.
Patrick Meenan, General Partner at Arthur Ventures, commented, “CertifID is addressing a growing problem in an industry looking for modern solutions.
“Despite the challenges posed by a decelerating housing market, CertifID stands out as a technology leader with a mission of utmost importance to the U.S. economy. We are excited to continue our partnership with CertifID and are eager to see them continue their impressive growth.”
Thomas W. Cronkright II, Executive Chairman at CertifID said: “Wire fraud is the greatest threat to real estate transactions today, our team remains committed to providing the products and services required to protect closing funds for consumers and businesses.”
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