Flueid Garners $8.3M in Financing
October 31, 2024
Flueid secured $8.3 million in capital to accelerate product development, drive business growth and expand its go-to-market strategy for its suite of verification of title (VOT) solutions.
This growth financing round was led by LiveOak Ventures, an Austin-based venture capital firm focused on investing in Texas-based founders. Additional participation came from Detroit Venture Partners—a venture capital fund created by Dan Gilbert, founder and chairman of Rocket Companies—alongside existing investors Aquiline and Commerce Ventures.
“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,” said Peter Bowman, Flueid’s co-founder and CEO. “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.”
Flueid offers a suite of technologies that make it faster and easier to uncover the condition of title and associated risks in residential real estate transactions. The company’s VOT products help title agents and underwriters expedite the traditional title search and examination process, while automating title insurance underwriting.
“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,” said Krishna Srinivasan, co-founder of LiveOak Ventures. “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.”
Contact ALTA at 202-296-3671 or [email protected].