First American Invests Additional $40 Million to Expand Digital Closing Platform
November 12, 2020
First American Financial Corp. is investing an additional $40 million into the digital title and escrow company Endpoint.
The new funding will help Endpoint’s hiring plans, proprietary technology development and expansion into new U.S. markets.
“Today's home buyers and sellers live, work and play predominantly online where they expect a certain level of convenience and speed. Endpoint combines innovative technology with the expertise of experienced escrow officers and provides a digital compass for the most significant purchase of a home buyer’s lifetime,” said Scott Martino, CEO of Endpoint. “Our team is committed to supporting real estate agents and their clients as they navigate this process, while rapidly and conveniently completing their transactions.”
Launched by First American last year, Endpoint surpassed its growth targets and has since expanded operations into Southern California and Arizona. In a release, the company reported it has doubled its employee base this year and is currently rolling out enhancements to further simplify transaction management and improve accessibility from any device.
“There are a number of companies attempting to deploy technology to speed up the digitization of the real estate transaction,” said Paul Hurst, managing director of venture investments at First American Financial Corporation. “Endpoint has already validated the demand for, and the functionality of, its product and is now broadening its focus to fundamentally simplify and automate the escrow process across all states, with the support of First American.”
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