Qualia collects $33m Series B led by Menlo

PropTech platform Qualia has collected $33m Series B led by Menlo Ventures.

Other contributions to the investment came from 8VC, Bienville Capital, and Barry Sternlicht.

Qualia connects lenders, realtors, title agents, home buyers and sellers together on a single platform to help simplify the home closing process. The technology offers better coordination and real-time communications to improve customer experience, visibility and efficiency.

Through the solution, clients are able to speed up settlements, eliminate errors and performance reporting, among others. Vendors also access an integrated payments platform to generate revenue, and business analytics to improve operations.

Some of the company’s clients and partners include Citi, Loan Depot, Catic, First American, and Stewart.

This capital injection will be used to expand the company’s engineering and product teams, as well as accelerating growth to additional markets in the US.

Menlo Ventures partner Tyler Sosin said, at. “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. 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.”

Menlo Ventures was very active in the FinTech sector last year, closing a variety of deals. Late last year, the firm took part in the $1m seed round in Insurdata, the $42m investment in Credit Seasame, and HomeLight’s $40m Series B.

Last week, real estate investment platform BRICKX picked up $9m in its Series A round from NAB Ventures.

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