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JetClosing Raises $20M Series A to Continue Growth of Real Estate Closing Technology
press release, JetClosing
   

JetClosing, the leader in digital real estate title and settlement transactions, announced today that it has closed a $20M Series A round led by funds and accounts advised by T. Rowe Price Associates, Inc. and with participation from PSL Ventures, Imagen Capital Partners and existing investors Trilogy Equity Partners and Maveron. The new injection of funds will be used to expand to residential real estate markets across the United States. The dynamic and affordable technology is currently available to realtors and buyers in Seattle-Tacoma, Las Vegas, Denver and Phoenix markets.

The dream of quickly obtaining home ownership is a reality with JetClosing’s product and service offering. The digital experience shortens the closing cycle, institutes a $500 flat closing fee regardless of home value and can issue seller proceeds and agent commissions within 60 minutes of closing a transaction.

“JetClosing has helped hundreds of brokerage companies, agents and buyers experience a hassle-free and delightful closing experience. We’re especially thrilled to have T. Rowe Price help us shepherd in a new phase of growth,” said co-founder and Chief Executive Officer Daniel Greenshields. “Their investment is a testament to the present inadequacy of the title and escrow experience and confidence in JetClosing changing the process in which we win at home buying.”

Through the iOS and Android app experience, agents are now able to personalize 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 the first ever property title scoring system, JetScore™. JetScore™ 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.”

About JetClosing

Founded in 2016, JetClosing (jetclosing.com) is the leader in digital title and settlement transactions. The company guides buyers and sellers through a seamless, high-touch, professional closing experience. The company was founded at Pioneer Square Labs, is headquartered in Seattle, and has satellite offices in Denver and Phoenix. Available on iOS and Android. For more information visit jetclosing.com.



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