Founded in 2016, Doma uses machine intelligence to replace large portions of the antiquated residential real estate closing process with instant technology solutions, according to a press release. It accelerates title and closing timelines while also greatly benefiting lenders, real estate professionals and title agents with significant time and cost savings.
This merger will take the company’s value from $623 million at their C funding round last March to $3 billion. It will also expand beyond title to additional aspects of the closing process such as home warranty and appraisals.
To date, Doma has facilitated over 800,000 real estate closings for lenders such as Chase, Homepoint, PennyMac, Sierra Pacific Mortgage and others.
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