Mobile-first title and escrow company, Endpoint, has announced it received an additional investment of $40 million from its parent company, First American Financial Corporation. This investment brings the total funding received to date to $70 million.
Endpoint said that this funding will help accelerate its hiring plans, technology development and expansion into new U.S. markets.
Endpoint was launched last November by First American, a provider of title insurance, settlement services and risk solutions for real estate transactions. At that time, First American invested $30 million in the company for development and growth.
“Today’s homebuyers and sellers live, work and play predominantly online where they expect a certain level of convenience and speed,” said Scott Martino, CEO of Endpoint. “Endpoint combines innovative technology with the expertise of experienced escrow officers and provides a digital compass for the most significant purchase of a homebuyer’s lifetime. Our team is committed to supporting real estate agents and their clients as they navigate this process, while rapidly and conveniently completing their transactions.”
Endpoint said it surpassed its growth targets in Seattle and since then has expanded operations into Southern California and Arizona. The company has also doubled its employee base this year and said it is working on “enhancements to its platform that further simplify transaction management and improve accessibility from any device.”
“There are a number of companies attempting to deploy technology to speed up the digitization of the real estate transaction,” said Paul Hurst, managing director, Venture Investments at First American. “Endpoint has already validated the demand for, and the functionality of, its product and is now broadening its focus to fundamentally simplify and automate the escrow process across all states, with the support of First American.”