Digital Home Closing Service JetClosing Raises $9 Million

By Dan Anderson ● July 31, 2020
  • JetClosing — the leading digital home closing service for resales and refinances — announced that it has raised $9 million in Series B funding

JetClosing — the leading digital home closing service for resales and refinances — announced that it has raised $9 million in Series B funding led by funds and accounts advised by T. Rowe Price Associates, Inc. with additional investments from Pioneer Square Labs (PSL) and Trilogy Equity. Including this round of funding, the company has raised a total of $35 million.

This investment will fuel continued expansion for the cloud-based digital title company. And it will be used for streamlining manual in-person processes that have lacked transparency and efficiency for home buyers, sellers, agents, and borrowers.

JetClosing is known for utilizing fully encrypted workflows for secure document transfers, wire transactions, remote online notarizations (RON), and e-signatures. And user information is further guarded using multi-factor authentication — which introduces safe, transparent, and remote digital home closings and refinancings for the first time.

JetClosing — which is currently available in Arizona, Colorado, Nevada, Florida, Pennsylvania, Texas, and Washington — has demonstrated the convenience and value of its fully digital title and escrow services throughout the current market environment as people search for ways to complete home transactions remotely. And to prevent fraud commonly associated with home buying scams, JetClosing has instituted a number of security measures including a recent partnership with CertifID — a real-time identity and account verification platform for protecting money transfers.

KEY QUOTES:

“In light of the current economy, this funding demonstrates unequivocally that there is a real market need for a digital workflow to facilitate home closings for resale and refinancing transactions. Pandemic or not, consumers expect a technology-first closing process that’s catered to their fast-paced, on-demand, and mobile lifestyles. This investment will allow JetClosing to expand into new markets while continuing to add features and bolster our platform’s overall user experience.”

— Dan Greenshields, CEO of JetClosing

“Our investment in JetClosing recognizes the company’s growth as well as the value of the underlying technologies that power the platform and protect user data. Cybersecurity is so critical in a remote operating environment and JetClosing’s standards are unmatched in the industry. We clearly see the opportunity for JetClosing to become the platform of choice for all home closings and refinancings, giving buyers, sellers, agents, and borrowers confidence throughout the process.”

— Geoff Entress, Managing Director of PSL