Flueid is making the real estate industry more fluid and aims to make purchases less risky with its data platform used by underwriters and mortgage companies. As a testament to its platform, the company recently secured new funding as it looks to expand.
On Tuesday, the Austin-based startup announced it raised a $15 million Series B round led by Aquiline Technology Growth. Flueid also secured a $5 million relationship extension with Silicon Valley Bank.
Flueid’s platform has become increasingly popular, so much so that last year the company saw a 400 percent increase in revenue and an 800 percent increase in monthly transaction volume. It’s popular among Fortune 500 companies that provide mortgage, underwriting or title services, according to a Flueid statement.
Real estate investments are undoubtedly risky but often have high rewards. With Flueid, companies can further mitigate the risk of an investment by reviewing key data before a transaction is complete. The platform unlocks data that can help companies approve a loan or lock in a borrow rate. According to Flueid, this allows companies to close real estate transactions faster.
“Flueid is focused on bringing data forward that expedites decision-making and unlocks processes, no matter where a client sits within the ecosystem,” Peter Bowman, co-founder and CEO of Flueid, said in a statement. “Over the last 18 months, we’ve evolved our technology to power multiple transaction types and arm our partners with a modern, tech-forward solution that helps them capitalize on any market shift. This funding reinforces a shared confidence in our go-to-market strategy and our vision to power the real estate transaction from end-to-end with Flueid’s data, decisions and insights at the core.”
With the new funding, Flueid will continue developing its platform and other products to offer clients a multi-vertical suite of real estate investing platforms.
Flueid had previously raised a Series A round back in February of 2021.
