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Spruce raises Series A

Total haul of $19.1M

CEO Patrick Burns (Credit: Spruce)

Spruce has raised $19.1 million in a Series A round from Bessemer Venture Partners, Omidyar Network, and Collaborative Fund. 

Why it matters: When they announced the round last month, they only had commitments for $15.6 million, according to a company press release. VC’s can’t seem to help themselves. The amount of money being thrown at startups is alarming.

Record Month: In July alone, 55 startups raised over $100 million.

What they do: Simplify the mortgage-closing process… They claim to offer cheaper title insurance by using technology to research and process contracts. Competitors include JetClosing and OneTitle.

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