Flueid, a leading VOT (Verification of Title) company for residential real estate transactions, announced it has secured $8.3 million in capital to accelerate product development, drive business growth, and expand its go-to-market strategy for its VOT solutions suite. This funding round was led by LiveOak Ventures. Additional participation came from Detroit Venture Partners along with existing investors Aquiline and Commerce Ventures.
Flueid provides a comprehensive suite of technologies that make it faster and easier to uncover the condition of title and associated risks in residential real estate transactions. And the company’s VOT products help title agents and underwriters expedite the traditional title search and examination process while automating title insurance underwriting.
For mortgage lenders, servicers, and real estate professionals, Flueid’s VOT tools offers an upfront TitleCheck as a trusted verification of the property’s title status while identifying any existing title issues that could impact a transaction’s complexity or timeline. This enhances transparency and certainty between title and non-title parties while improving the consumer experience.
KEY QUOTES:
“We built Flueid on the belief that data must be made available to not only identify title risk but also help streamline, harmonize, and increase transparency for everyone involved in a transaction. Our technology has gained strong momentum in the title industry and is widely accepted by top insurers who specialize in understanding and mitigating title risks. But we’re not stopping there. Traditionally, title is verified days into the mortgage origination or servicing process. Improving understanding and visibility into title risks earlier in the process is critical, as it will foster greater integration and connectivity between mortgage originators and title providers and deliver a more streamlined experience. With this funding and the collaboration of our investment partners, we’re confident we can establish VOT as a standard verification service across all transactions.”
– Peter Bowman, Flueid’s Co-Founder and CEO
“The centerpiece of our investment strategy is to back founders and teams that are exceptionally strong in their respective domains and disrupting large industries with their novel solutions. Our investment in Flueid exemplifies this strategy and, in particular, continues our rich tradition of backing technology leaders in the real estate industry. Flueid has already shown significant traction and momentum while eliminating major bottlenecks in the real estate transaction lifecycle, and as such, we are excited to see the full VOT vision come to life.”
– Krishna Srinivasan, co-founder of LiveOak Ventures
“It’s our mission at Detroit Venture Partners to back tech companies that are moving the world forward and we believe Flueid’s vision for VOT will be transformational within the mortgage space. They’ve been able to do something no one else has—use innovative technology to fuel a fast and efficient title process and make insights from that process available to anyone. We are excited to see the power of VOT grow, scale, and become an industry standard across the real estate life cycle.”
– Jared Stasik, partner at Detroit Venture Partners
