Qualia scores $55m Series C to help with team expansion

Qualia, a real estate closing service, has scored $55m in its Series C which will support the hiring of further product, engineering and go-to-market staff.

Tiger Global, an investment firm based in New York, led the round, with contributions also coming from previous Qualia backers Bienville Capital, 8VC and Menlo Ventures.

On the back of the round, the PropTech is looking to grow its team and seek strategic partnerships.

Qualia connects the buyer, seller, title agent, escrow officer, lender and real estate agent to remove burdens on the home closing process. Its technology fosters real-time communications to improve the experience and enable clients to accelerate settlements, remove errors and improve performance reporting.

The company claims to be responsible for more than 15% of US real estate transactions, growing from just 5% in 2017.

Qualia CEO and co-founder Nate Baker said, “One of the biggest points of friction in buying a home remains the sheer amount of paperwork and coordination that is involved in the closing. Our goal is to help real estate professionals and homebuyers navigate the complexities of the real estate closing process by bringing everyone onto one shared, easy-to-use and secure platform.

“We’re excited to have the support of our world-class investors to make this happen.”

Last year, the company raised $33m for its Series B round. The equity injection was led by Menlo Ventures and was raised to support the growth of its team.

With the close of the Series C, Qualia has raised a total of $95m in equity.

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