Closinglock Secures $34 Million in Series B Funding
January 30, 2025
Closinglock announced that it closed a $34 million Series B funding round led by Sageview Capital and supported by Headline and RWT Horizons.
This new financing will advance the company’s mission to power and protect U.S. real estate transactions by securing the transfer of funds and information. To date, Closinglock has protected more than 1 million home sales worth over $500 billion, and the company’s Good Funds Payments tool has facilitated the secure transfer of more than $600 million in payments.
“Buying a home is the largest investment most families ever make — but one fraudulent email could send your life savings right into the hands of a scam artist. We're here to make sure that doesn't happen,” said Andy White, CEO and co-founder of Closinglock. “This latest funding round—and the 1 million transactions already secured by Closinglock—is another vote of confidence in the work we do. We are thankful Closinglock is trusted by thousands of title agents to secure their real estate transactions from the escalating threat of fraud while improving workflow efficiency.”
The Series B will allow Closinglock to evolve and expand, particularly as the fraudulent use of artificial intelligence and deepfake content proliferates. In 2023, consumers reported nearly $3 billion in losses from 31,000 real estate business crime and business email compromise complaints. With the average successful real estate fraud costing victims $143,000, Closinglock said its tools have saved U.S. buyers and sellers more than $1.24 billion in avoided losses by preventing more than 8,250 fraud attempts.
In 2024, Closinglock introduced significant enhancements, including an Early Deposit payment option and an upgraded Identity Verification feature, generating over 400,000 identity reports. The company also expanded its payment offerings through its J.P. Morgan partnership, announced a partnership with Docusign, and improved seller bank account verification capabilities.
“We are thrilled to partner with Andy White and his exceptional team at Closinglock. Their innovative platform is transforming ID verification, eliminating wire fraud, and streamlining payments in real estate transactions,” said Ned Gilhuly, founding partner of Sageview Capital. “With near 25x growth over the past three years, and outstanding customer satisfaction ratings of 90%, it’s evident Closinglock is delivering exceptional value to its customers. We are excited to support the company in unlocking its full potential and driving further growth in the industry.”
Contact ALTA at 202-296-3671 or [email protected].