Finding and buying a home is difficult, and trying to do so in the middle of a pandemic might feel impossible. Qualia is on a mission to modernize the real estate industry for a newly remote world by digitizing all aspects of the closing process.
On Tuesday, the newly minted unicorn announced it raised $65 million in Series D financing at a valuation of over $1 billion. The round, led by Tiger Global, brings the company’s total funding to $160 million.
“Today, to a large degree, the real estate industry still operates like it did years ago before the internet. Qualia is at the very beginning of a decades-long effort to change that,” founder and CEO Nate Baker said in a blog post.
The latest round follows a year of significant growth for the company. Qualia’s team has nearly doubled since January and the company is looking to keep that energy going in the new year.
Qualia is currently hiring for 10 open positions based out of its office in Austin. The company is primarily looking to expand its customer success and sales teams.
In addition to the new funding, the company also announced that it would acquire Adeptive Software. Adeptive is the developer of ResWare, a title and escrow production software.
“We’re very excited about what this acquisition and financing means for the next stage of [our] growth. Adeptive brings an almost 20-year track record of providing exceptional software and services to the title and escrow industry,” Baker continued.
Over 500,000 real estate professionals have signed on to Qualia since its launch in 2015.
“We’ve come a long way in our first five years, but there’s still so much more to be done,” Baker said.
Existing investors 8VC and Menlo Ventures participated in the round.