Seattle-based tech startup JetClosing raises $11M in funding to turbocharge eClosing solution for real estate agents; announces Anna Collins as President & CEO
If you have ever bought a home in the past, you know that closing a home sale still involves mountains of paperwork. The traditional home closing process is not only manually intensive but also time-consuming and error-prone with a bonus case of signature-induced carpal tunnel syndrome.
Enter JetClosing, a Seattle, Washington-based tech startup that aims to digitize signatures wherever possible and eliminate the paper for good. JetClosing is a tech-driven platform that allows real estate professionals to handle home sale closings, refinancings, and title and escrow fully digitally.
Today, JetClosing announced it has closed $11 million in Series B funding under the direction of new CEO Anna Collins. Prior to JetClosing, Anna held leadership roles and helped scale new businesses at notable technology companies, including Amazon, Microsoft, aQuantive, and several start-ups.
The round includes follow-on investments from PSL Ventures, Trilogy Equity Partners, and others, as well as investment from funds and accounts advised by T. Rowe Price Associates, Inc. JetClosing said it will use the new funding to accelerate market growth invest in its operations and technology, building a seamless customer experience to help real estate agents, sellers, and buyers more effortlessly close on homes securely and from anywhere.
This funding comes in the midst of an accelerated shift to online closings since the start of the pandemic. Fannie Mae saw eMortgage volume hit $38.8B in the first half of 2020, a nearly 1500% growth rate over a full-year 2018 volume of $2.7B. Additionally, JetClosing’s remote online notarization (RON) partner Notarize saw a 700% increase in RONs in the months following the pandemic.
Founded in 2016 by Daniel Greenshields, JetClosing is a digital real estate title and escrow company that aims to create a modern and user-friendly real estate closing experience. Through its platform, JetClosing provides unprecedented transparency, security, and efficiency throughout the home closing process. With a presence in Arizona, Colorado, Florida, Nevada, Pennsylvania, Texas, and Washington, JetClosing’s team of veteran title professionals and technology leaders is expanding nationwide to provide digital title and escrow services to buyers, sellers, agents, lenders, and borrowers.
“Anna brings a deep understanding of customers, how to scale teams and deliver innovative technology products to the market, which is critical as JetClosing continues to be an industry disruptor,” said Geoff Entress, Managing Director of PSL Ventures and Co-Founder and Director, JetClosing. “JetClosing is poised to become an impactful company in the title & escrow industry for the long term.”
“I’m incredibly jazzed to join the JetClosing team,” said Collins. “JetClosing is changing the way customers have experienced title & escrow for the past 150 years and we are on a mission I believe in – to make eClosings the norm for every one from anywhere, any time.”