Total haul of $19.1M
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.