When a real estate transaction software tool raises $8.5 million dollars, as Nashville-based Blueprint Title did, more than just the buyers and sellers of property take notice. But what exactly does this proprietary digital closing solution do?
CTO Michael Anderson, as you’d expect a CTO to do, simplifies the company’s aim. “Blueprint’s technology platform empowers buyers, sellers, and lenders throughout the closing experience by streamlining complicated workflows, promoting transparency, and securely digitizing the process.”
That means Blueprint Title makes the closing stage of real estate purchasing more efficient by delivering meaningful time and cost savings to an expanding buyer category.
It does this with an enterprise-grade API that centralizes services for title insurance and points of the closing process that require multiple sign-offs, thereby creating a single “team” for every part of the transaction.
Users upload their documents directly, and e-signature capabilities are available at every step of the transaction, which is updated in real time as things are resolved, so that nothing is a surprise before the deals are signed. As a result, “Closing Day” is a lot happier for everyone involved.
“As we look forward, we see a tremendous opportunity to innovate via applying maturing technologies in big data and machine learning to the title and closing process,” Anderson added.
The Nashville-based maker of software tools for real estate transactions raised the $8.5 million Series A with Santander Innoventures, along with participation from Liberty Mutual Strategic Ventures, Mucker Capital, Tribeca Early Stage Partners, and Greycroft.
CEO Steve Berneman says the future of Blueprint Title is as planned out as its namesake, and the possibilities to build on the successful funding round are huge.
“With volume home buying and selling on the rise in the U.S., Blueprint Title saw a niche opportunity to help repeat buyers and sellers of real estate find a better way to close on their investments. As we thought about our go-to-market strategy and where it made sense to offer our services to this unique buyer category, we quickly zeroed in on the nation’s fastest growing housing markets, many of which are located in the Southeast.”
That means cities like Nashville, Atlanta, Charlotte, and Tampa are places of focus. Berneman says not only are these municipalities seeing overall population and job growth, but there’s also increased real estate activity, both from investors and builders.
“We’re excited to see our services take off quickly in these states, and hope to mimic that success as we continue to expand nationwide.”