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Title tech provider and decisioning platform Flueid has raised another $12.5 million in a funding round that the company says will allow it to add more integrations to its verification of title solutions suite and refine its purchase solution.
In what it’s calling a Series B1 round led by Aquiline Technology Growth (ATG) with participation from Commerce Ventures, Flueid announced Thursday that it’s raised $10 million in equity funding and an additional $2.5 million in debt financing. Both ATG and Commerce Ventures contributed to Flueid’s Series A and Series B.
Flueid, which completed a $15 million Series B funding round in October, incorporates title data and intelligence into workflows, teams and transactions — which the company claims enables a new verification category known as Verification of Title or VOT.
Peter Bowman
VOT allows title intelligence to be across the entire real estate life cycle to transform workflows “in ways more meaningful than simply delivering a faster title commitment,” Flueid co-founder and CEO Peter Bowman said in a statement. “This funding will further propel our platform’s substantial growth over the past two years to provide comprehensive backing to the VOT vision and make this innovative category a reality.”
Flueid had previously announced integration of its Flueid Decision platform with ICE Mortgage Technology’s Encompass loan origination system (LOS) in May. The Austin-based tech provider expanded the Decision Platform in January, adding loss mitigation analysis reports to help mortgage loan servicers develop loss mitigation strategies.
Flueid Decision was integrated with Notarize in December, making remote online notarization (RON) available through the platform where available. Lender and title customers using Flueid Decision can check eClosing and eRecording availability.
Flueid’s competitors include digital title insurance, escrow and closing provider Doma, which is working to adapt technology the company pioneered for mortgage refinancings and apply it to purchase loans and First American Financial Corp.’s digital title and settlement services subsidiary Endpoint.
Max Chee
“Flueid’s pace of product development and ability to execute strategically has continued to impress us since our initial investment in 2020,” said Max Chee, head of Aquiline Technology Growth, in a statement. “They’ve not only advanced their vision for an all-new VOT category but have delivered and continue scaling a comprehensive platform and set of products to make it a reality. We look forward to supporting their continued growth.”
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