Real estate technology company Qualia has announced that it plans to expand its engineering and product teams and growth into additional markets across the US following a new funding round.
The company said it has closed a $33 million series B funding which was led by Menlo Ventures. Qualia will use the new capital for the expansion. 8VC, Bienville Capital, and Barry Sternlicht also participated in the round.
Qualia’s announcement follows a nationwide expansion of its platform late in 2017. The company said that 5% of the national real estate market is now transacted through Qualia.
“Until Qualia, the confusion and pain during the home closing process was widely considered a rite of passage to the world of homeownership,” Qualia founder and CEO Nate Baker said. “We streamline the home-buying experience for all parties and make coordination unbelievably simple for lenders, realtors, and settlement agents. Buyers are also empowered by using our app to better understand their transaction and communicate with their closing team, so they’re kept in the loop about their home purchase every step of the way.”
Aimed at the home closing industry, Qualia’s technology brings lenders, realtors, title agents, home buyers, and sellers onto a shared platform that allows participants to work in tandem and document progress in real time.