Menlo Ventures led the round
Startup Qualia raised $33 million in Series B funding. The round was led by Menlo Ventures with participation from 8VC, Bienville Capital, and Barry Sternlich, the company announced in a press release.
What they do: The real estate tech startup aims to streamline the home closing process. The goal is to bring all the players involved in transaction – lenders, realtors, title agents, home buyers and sellers – onto one shared platform to interact seamlessly.
Zillow Lurks: Dotloop, which was acquired by Zillow in 2015, is a major competitor.
Takeaway: The firm started as a title and closing platform and focused on streamlining the title and escrow process. Last year, they expanded to become an end-to-end platform. In a $40 billion antiquated industry, there is certainly major opportunity for disruption. (Inman+Forbes)