Qualia Raises $55M to Transform Real Estate Transaction Infrastructure

November 14, 2019

Qualia announced it has raised $55 million in Series C financing led by Tiger Global, along with existing investors Bienville Capital, 8VC and Menlo Ventures.

The company will use the funds to hire engineering and market teams, with a focus on accelerating growth and building strategic partnerships. The funding positions Qualia to continually improve the technology infrastructure and empower digital transformation for its partners.

“One of the biggest points of friction in buying a home remains the sheer amount of paperwork and coordination that is involved in the closing,” said Nate Baker, CEO and co-founder of Qualia. “Our goal is to help real estate professionals and homebuyers navigate the complexities of the real estate closing process by bringing everyone onto one shared, easy-to-use and secure platform.”

Real estate purchases are continuing to change at an accelerated pace. According to the National Association of Realtors (NAR), nearly half of all homebuyers in the U.S. found their home online in 2018, and that number is expected to rise. Additionally, a Fiserv survey reports that nearly two-thirds of mortgage loan applications originated online, up from 56 percent in 2018. Nevertheless, NAR found that nearly 40 percent of homebuyers still cite paperwork and understanding the closing process as one of the most complicated aspects of homebuying.

“The workflow for most residential real estate transactions remains antiquated and opaque. Qualia has created a modern system of record, communication, and action for title insurance agents and mortgage originators and we believe their software platform materially improves productivity and reduces costs,” said Scott Shleifer, partner of Tiger Global.

Contact ALTA at 202-296-3671 or communications@alta.org.

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