Flueid, the leading technology company using data and intelligence to fuel the Verification of Title (VOT) across the real estate life cycle, today announced it has closed an additional $12.5 million in financing to add to its $20 million raise announced in October 2022. This includes a $10 million Series B1 raise and $2.5 million in debt financing from Eastward Capital Partners, LLC. The B1 round was led by Aquiline Technology Growth (ATG) and included participation from Commerce Ventures, both of which contributed to Flueid’s Series A and Series B.
Flueid believes in leveraging available data to enhance transparency and integration across the real estate life cycle and achieve the sought-after goal of a more streamlined process. The company’s focus specifically lies in developing products and solutions that seamlessly incorporate title data and intelligence into all workflows, teams, and transaction types within the ecosystem. This effectively enables a new verification category, known as VOT or the Verification of Title, for the industry.
“We’ve been on this journey since our company’s founding and see VOT as a bigger category and mechanism to bring title data upstream for a more integrated and transparent experience,” said Peter Bowman, Co-Founder & CEO of Flueid. “Most importantly, VOT focuses the innovation dialogue on how title intelligence can be used prescriptively across the entire real estate life cycle to effectuate change and transform workflows in ways more meaningful than simply delivering a faster title commitment. This funding will further propel our platform’s substantial growth over the past two years to provide comprehensive backing to the VOT vision and make this innovative category a reality.”
Since its launch in 2020, Flueid’s been scaling its proprietary Flueid Decision platform with products and solutions to fuel VOT across the full real estate life cycle. This includes adding loss mitigation and loan modification to the platform’s decisioning capabilities, alongside refinance, home equity and purchase, as well as adding VOT products to support the workflows of real estate professionals, mortgage lenders, mortgage servicers, title agents and title underwriters, among others.
Additionally, the company integrated the platform with two prominent point of sale (POS) and loan origination systems (LOS), enabling mortgage lenders and credit unions processing refinances and HELOCs to seamlessly conduct title checks and verifications at the onset of the loan origination process. This helps them identify and prioritize opportunities that can close on an accelerated timeline.
The Series B1 funding will further propel these advancements by incorporating additional integrations, refining Flueid’s purchase solution, and introducing default and capital markets offerings to market to comprehensively round out the company’s VOT solutions suite.
“Flueid’s pace of product development and ability to execute strategically has continued to impress us since our initial investment in 2020,” said Max Chee, Head of Aquiline Technology Growth. “They’ve not only advanced their vision for an all-new VOT category but have delivered and continue scaling a comprehensive platform and set of products to make it a reality. We look forward to supporting their continued growth.”
