SAN FRANCISCO—This week, States Title closed a Series Cfinancing round of $123 million led by Greenspring Associates inresponse to an unprecedented shift in the real estate industry'sstructural foundation and future economic uncertainty. StatesTitle's patented technologies enable the use of data science tocreate predictive title insurance based on an assigned riskscore.

This indicates how safe a property is from liens or liabilities,helping to achieve faster title processing and more efficientunderwriting. The firm says it is applying "modern-day technologyto ancient title and escrow processes to provide an instantcustomer closing experience, enable mortgage originators andRealtors to be more efficient, and lower costs for everyoneinvolved".

"The most pressing need in our industry right now is to removefriction and cost from mortgage closings, and to do so withsolutions that can deliver fully remote, instant digitalexperiences," said Max Simkoff, founder and CEO of States Title."We are committed to further investment in our patented,industry-leading machine intelligence platform to support the goalof providing an instant closing experience at a lower cost. Rightnow we are witnessing an unprecedented shift in the structuralfoundation of the real estate industry, and this new funding willallow States Title to provide enhanced support for lenders, realestate agents and homeowners, as well as provide a solid foundationfor continued technological investment in the face of futureeconomic uncertainty."