US-based document notarisation platform Notarize has received $20m in funding from investors including home builder Lennar Corporation and a subsidiary of real estate and moving services provider Realogy Holdings.
The round was led by Polaris Partners and also featured Second Century Ventures, the investment vehicle formed by the National Association of Realtors; Founders Fund; and Fifth Wall Ventures, the venture capital firm backed by a range of real estate-associated corporates.
Founded in 2015, Notarize runs an online platform that can be used to legally notarise any document to attain to its authenticity.
The company plans to use the proceeds from the round, which took its total funding to $31m, to expand its offering into four US states – Indiana, Nevada, Tennessee and Texas – where online notarisation was recently legalised.
Bruce Gross, CEO of Lennar subsidiary Lennar Financial Services, said: “Online notarisation is an essential component of the digital home buying experience and we are pleased to launch an initial program with Notarize this year.
“Notarize’s online closing process aligns with Lennar’s vision of creating a seamless digital transaction. We are excited to provide a new resource that will improve the home buying experience and enable our customers to move into their dream homes faster.”
Polaris Partners and Ludlow Ventures had provided $2.4m of seed capital for the company as of early 2016, before being joined by Founders Fund for an $8m series A round in June the same year. Notarize also named Second Century, Fifth Wall and Flight Ventures as existing investors.