Qualia achieves unicorn status with $65mn Series D; acquires Adeptive Software

By Pavithra R

Qualia, a leading digital closing platform used by real estate professionals, lenders, and homebuyers in the United States, has announced that the firm has raised $65 mn in Series D financing, increasing its total funding to $160 mn, valuing the company at over $1 bn. 

The investment round was led by existing investor Tiger Global, alongside other existing investors 8VC and Menlo Ventures. Additionally, Qualia has also announced the acquisition of Adeptive Software, the developer of ResWare, a complementary title and escrow production software renowned within the real estate industry.

The COVID-19 pandemic made the long-term value of a fully digital closing platform clear to members of the real estate and mortgage business ecosystem Both Qualia and Adeptive have been working towards solutions to overcome various digital transformational challenges by creating a uniform technology infrastructure that businesses use to deliver an integrated, secure, end-to-end closing experience. Ultimately, a shared platform of record can simplify and demystify the homeownership process.

“Modern real estate transactions require new infrastructure. The Qualia and Adeptive teams are both working towards bringing that seamless home buying, selling and refinance experience to the real estate ecosystem at large. We’re excited for the road ahead and to have the continued support of our world-class investors to help make this happen,” said Nate Baker, co-founder and CEO of Qualia. 

Established since 2003, Adeptive Software develops products that deliver efficiency, flexibility, and scalability for the real estate title industry. Its flagship product, ResWare, is the industry-leading title and escrow production platform tailored to meet the needs of customers. By coming together, Qualia and Adeptive will bolster real estate’s digital transformation.

“We are thrilled to bring Adeptive’s almost two decades of expertise to Qualia. The Qualia team’s focus on powering professionals to deliver a fantastic consumer experience for over five years now has sparked new innovation in our industry, and we’re incredibly excited to build the foundation for the future of real estate together,” said Bryan Buus, President of Adeptive.

Qualia powers a new generation of real estate and mortgage companies who wishes to compete in the digital era without the challenges of creating the necessary infrastructure. This year, the firm has aggressively expanded its suite of products for an increasingly broad set of customers using the platform.

“In recent years, new real estate and mortgage business models designed to meet the needs of the modern consumer have emerged. Qualia has created the leading IT-infrastructure to support these new models, as well as more traditional home-buying methods,” said Joe Lonsdale, founding partner at 8VC.