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Seattle-based digital home closing service JetClosing has opened its fifth office in the United States, according to a press release. Austin, TX is the newest location of the company that, in July, closed on a $9 million Series B funding round.
In 2018, long before the COVID-19 pandemic pushed arm’s-length real estate closings to the forefront, JetClosing secured $20 million in funding.
The company’s tech-forward approach to modernizing the multi-faceted business process for transferring homeownership leverages the mobile and desktop environment to link all deal stakeholders for a secure, transparent sale.
Other cities in which JetClosing has operations include Denver, Las Vegas, Phoenix and Seattle. However, it’s also active in Florida and Pennsylvania.
“There’s never been a more transformative time for the real estate industry and its use of technology,” Daniel Greenshields, JetClosing’s co-founder and chief executive officer, told Inman after the 2018 funding round. Greenshields’ statement proved to be quite prescient.
While JetClosing had gained significant momentum prior to the nation’s current remote business climate, hybrid and touchless home sales have helped propel the real estate market to levels of business not seen in years. Low mortgage rates have helped augment the market’s growth.
The solution allows users a single sign-on to access all features, which include secure, electronic transfer of earnest money deposits, remote online notarization, and a transaction and closing document repository.
Users are updated at each stage of the deal via the app (for iOS and Android) or browser version, and additional benefits for end users include wire-fraud protection, personal and financial data protection, and a flat $500 escrow fee.
“We are well-positioned to help our agent and lender partners adjust to recent shifts in business operations and consumer preferences brought on by the pandemic,” Matt Rockhold, vice president of sales at JetClosing, said in the latest press release. “Texas is a market that we’re committed to because it was also one of the first states to authorize remote online notarization back in 2018, a critical step in completing the home closing process entirely remotely.”
To date, JetClosing has raised $35 million.
Have a technology product you would like to discuss? Email Craig Rowe
Craig C. Rowe started in commercial real estate at the dawn of the dot-com boom, helping an array of commercial real estate companies fortify their online presence and analyze internal software decisions. He now helps agents with technology decisions and marketing through reviewing software and tech for Inman.