Qualia Raises $33 Million in Funding from Venture Firms
March 8, 2018
Qualia, a real estate technology company that streamlines the home closing process, announced that it has closed a $33M Series B led by Menlo Ventures with participation from 8VC, Bienville Capital, and Barry Sternlicht. With the new capital, Qualia will expand its engineering and product teams and accelerate their growth into additional markets across the United States.
Qualia brings everyone involved in the transaction—lenders, Realtors, title agents, home buyers and sellers—onto one shared, secure platform to work in tandem and document progress in real time.
“Until Qualia, the confusion and pain during the home closing process was widely considered a rite of passage to the world of home ownership,” said Nate Baker, founder and CEO of Qualia. “We streamline the homebuying experience for all parties and make coordination unbelievably simple for lenders, realtors, and settlement agents. Buyers are also empowered by using our app to better understand their transaction and communicate with their closing team, so they’re kept in the loop about their home purchase every step of the way.”
According to Qualia, five percent of the national real estate market is transacted through its system.
“Qualia is a great example of a modern system of record that dramatically improves workflows, coordinates all key constituents, and has a powerful network effect,” said Tyler Sosin, partner at Menlo Ventures. “The Qualia team has a unique perspective on one of the most acute pain points in the real estate industry, the closing process, and are poised to become the industry’s default real estate transaction platform.”
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