Flueid, a pioneer in the real estate technology sector, has successfully raised $8.3m in growth financing.
This round of investment was spearheaded by LiveOak Ventures, based in Austin, with contributions from Detroit Venture Partners as well as continued support from existing backers Aquiline and Commerce Ventures.
The company is a leader in Verification of Title technologies for the residential real estate market. Flueid’s suite of VOT solutions is designed to modernise how title risks are identified and managed, ultimately streamlining transactions across the board.
With the new funds, Flueid plans to accelerate the development of its products, expand business operations, and push forward go-to-market strategies.
Additionally, Flueid is looking to refine the integration and connectivity between mortgage originators and title providers. Such advancements are expected to establish VOT as a standard service across all transactions, ensuring earlier and clearer visibility into title risks which is pivotal for all parties involved in real estate dealings.
Peter Bowman, co-founder and CEO of Flueid, emphasised the importance of their technology in the industry. ““We built Flueid on the belief that data must be made available to not only identify title risk but also help streamline, harmonize, and increase transparency for everyone involved in a transaction.
“Our technology has gained strong momentum in the title industry and is widely accepted by top insurers who specialize in understanding and mitigating title risks. But we’re not stopping there. Traditionally, title is verified days into the mortgage origination or servicing process. Improving understanding and visibility into title risks earlier in the process is critical, as it will foster greater integration and connectivity between mortgage originators and title providers and deliver a more streamlined experience. With this funding and the collaboration of our investment partners, we’re confident we can establish VOT as a standard verification service across all transactions.”
Krishna Srinivasan, co-founder of LiveOak Ventures, also shared his perspective on backing Flueid. “The centerpiece of our investment strategy is to back founders and teams that are exceptionally strong in their respective domains and disrupting large industries with their novel solutions. Our investment in Flueid exemplifies this strategy and, in particular, continues our rich tradition of backing technology leaders in the real estate industry.
“Flueid has already shown significant traction and momentum while eliminating major bottlenecks in the real estate transaction lifecycle, and as such, we are excited to see the full VOT vision come to life.”
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