Qualia becomes latest tech unicorn with $65M Series D;

SAN FRANCISCO, Dec. 21 2020 (GLOBE NEWSWIRE) — Quality, the leading digital real estate fence technology company, today announced that it has raised $65 million in Series D funding, bringing its total funding to $160 million and valuing the five-year-old company at over $1 billion. of dollars. The latest round was led by existing investor Tiger Global, alongside other existing investors 8VC and Menlo Ventures. In addition, Qualia announced the acquisition of Adaptive Software, the developer of ResWare, a well-known complementary securities production and escrow software in the real estate industry.

The pandemic has highlighted the long-term value of a fully digital closing platform for members of the real estate and mortgage business ecosystem, which has historically relied on manual, in-office and in-person processes. Both Qualia and Adeptive have been working on solutions to overcome these challenges by creating a uniform technology infrastructure that companies use to deliver a secure, integrated, end-to-end fence experience. Ultimately, a shared registration platform can simplify and demystify the homeownership process.

Adeptive brings nearly 20 years of experience delivering exceptional software and services to the title and escrow industry through its core product, ResWare. Over that time, Adeptive has created enterprise-class software used by major underwriters, securities, and escrow companies, with a host of integrations with service partners. By joining forces, Qualia and Adeptive will further accelerate the digital transformation of real estate.

“Modern real estate transactions require new infrastructure,” said Nate Baker, co-founder and CEO of Qualia. “Both the Qualia and Adeptive teams strive to bring this seamless home buying, selling and refinancing experience to the broader real estate ecosystem. We are excited about the road ahead and to have the continued support of our world-class investors to help get us there.

“We are thrilled to bring nearly two decades of Adeptive expertise to Qualia,” said Bryan Buus, President of Adeptive. “For more than five years, the Qualia team’s focus on helping professionals deliver a fantastic customer experience has sparked new innovations in our industry, and we’re extremely excited to launch the foundations of the future of real estate together.

Qualia is powering a new generation of real estate and mortgage companies that want to compete in the digital age without having to build the necessary infrastructure. Over the past year, Qualia’s team has nearly doubled and it has aggressively expanded its product suite for an ever-widening set of customers using the platform. In the past few months alone, Qualia has launched a platform supporting technology real estate companies such as Redfin, REX and Orchard, new platforms for mortgage lenders and title insurers that digitize their processes with agents of titles, and a native remote online notarization platform. to allow a house to be closed entirely remotely.

“In recent years, new real estate and mortgage business models designed to meet the needs of the modern consumer have emerged,” said Joe Lonsdale, founding partner of 8VC. “Qualia has created the core IT infrastructure to support these new models, as well as more traditional home buying methods.

In 2020, a year where refinances have reached record highs, the need for easy-to-use, reliable tools that can power consistent digital experiences for service partners and their customers has never been more evident. According to a recent study by Qualia, more than half of buyers prefer a fully digital closing process, but only 13% of recent buyers said they have one, and only 9% of future buyers expect to be able to do so. This funding allows Qualia to expand its role in empowering digital transformation for industry partners and consumers.

To learn more about Qualia’s Series D financing and Adeptive acquisition, please visit our blog.

About Qualia
Qualia is the leading digital closing platform for the real estate and mortgage industry. Qualia’s new class of cloud-based closing rooms provide the complete infrastructure to streamline the home closing experience for real estate businesses and their clients. The company offers a suite of products that brings home buyers and sellers, lenders, title and escrow agents, and real estate agents together in one secure, remote platform. Since its launch in 2015, more than half a million real estate professionals have used Qualia for their clients, the company has been named to the CB Insights Fintech 250 list of fastest growing fintech startups, counts nearly of 400 employees, and has been recognized by Forbes as one of America’s Top Startup Employers. Qualia is headquartered in San Francisco, California, with offices in Austin, Texas. For more information about Qualia, visit www.qualia.com.

About the adaptive
Adeptive Software develops the powerful ResWare credentialing and escrow platform. ResWare is a sophisticated yet flexible solution offering intelligent and scalable workflow automation, a secure collaboration portal, and numerous vendor and bank integrations that enable customers to be more productive and thereby transform their operations. With the ResWare platform and experienced Adeptive staff, Adeptive helps customers automate and innovate for today’s transactions and those of tomorrow.


        

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