JetClosing raises another $2M, will expand real estate closing process service to more states – GeekWire
JetClosing is raising more cash to help support the growth of its online real estate closing platform.
The Seattle startup just reeled in another $2 million for its tech-fueled mobile-focused service that digitizes the home closing process for buyers, sellers, and realtors. Trilogy Equity Partners led the round, which included participation from other existing investors. Total funding to date is now $4.4 million.
JetClosing, founded last year and spun out of Seattle-based startup studio Pioneer Square Labs, will use the fresh cash to expand into multiple states. It currently operates in Washington and Arizona.
JetClosing removes paper forms and moves the closing process to the cloud. By doing so, the company said it can reduce the amount of closing time, increase transparency, and cut costs with a more efficient model. JetClosing makes money by charging a fee as part of the transaction when it closes.
The company launched its service in March after raising its seed round and made its first sale one month later. It has been apart of more than 50 listings since then.
The startup is led by co-founder and CEO Daniel Greenshields, who previously spent nearly 15 years helping run ShareBuilder, a company now owned by Capital One which digitized and sped up the process of buying stocks, bonds, mutual funds, 401(K) plans, and more. JetClosing employs 21 people, with offices in Seattle and Phoenix.
Pioneer Square Labs, meanwhile, has spun out three other startups in the past 18 months:
- LumaTax, a company that aims to automate sales tax reporting for small businesses.
- AdLightning, which helps digital publishing outlets scan their sites for disruptive ads.
- Boundless, a startup that aims to help people navigate the U.S. immigration process.