Leading Fintech and Fraud Prevention Company Has Protected Over 1 Million Transactions Worth Over $500 Billion and Prevented $1.2 Billion in Losses to Fraud
Closinglock Annual Revenues Have Grown 25x Over Past Three Years
AUSTIN, Texas–(BUSINESS WIRE)–Closinglock, the leading fintech and fraud prevention technology provider for the real estate industry, today announced it has closed a $34 million Series B funding round. The investment was led by Sageview Capital and supported by Headline and RWT Horizons.
This new financing will advance the company’s mission to power and protect U.S. real estate transactions by securing the transfer of funds and information. To date, Closinglock has protected more than 1 million home sales worth over $500 billion, and the company’s Good Funds Payments tool has facilitated the secure transfer of more than $600 million in payments.
“Buying a home is the largest investment most families ever make — but one fraudulent email could send your life savings right into the hands of a scam artist. We’re here to make sure that doesn’t happen,” said Andy White, CEO and co-founder of Closinglock. “This latest funding round — and the 1 million transactions already secured by Closinglock — is another vote of confidence in the work we do.”
“We are thankful Closinglock is trusted by thousands of title agents to secure their real estate transactions from the escalating threat of fraud while improving workflow efficiency,” he added. “This new funding will unlock the next chapter in our journey to power and protect all real estate transactions while ensuring the secure and seamless flow of funds in every deal.”
The Series B will allow Closinglock to evolve and expand, particularly as the fraudulent use of artificial intelligence and deepfake content proliferates. In 2023, consumers reported nearly $3 billion in losses from 31,000 real estate business crime and business email compromise complaints — the type of scams often deployed to infiltrate real estate transactions. With the average successful real estate fraud costing victims $143,000, Closinglock’s tools have saved U.S. buyers and sellers more than $1.24 billion in avoided losses by preventing more than 8,250 fraud attempts.
Closinglock has grown from secure wire instruction exchanges to offering innovative solutions that enhance real estate transactions. Its Good Funds Payments tool is the only tool in the market that allows homebuyers to securely pay down payments and other funds from their desktop or mobile. Verified transfers are protected under Closinglock’s recently enhanced insurance policy, covering up to $2.5 million.
In 2024, Closinglock introduced significant enhancements, including an Early Deposit payment option and an upgraded Identity Verification feature, generating over 400,000 identity reports. The company also expanded its payment offerings through its J.P. Morgan partnership, announced a partnership with Docusign, and improved seller bank account verification capabilities.
“We are thrilled to partner with Andy White and his exceptional team at Closinglock. Their innovative platform is transforming ID verification, eliminating wire fraud, and streamlining payments in real estate transactions,” said Ned Gilhuly, founding partner of Sageview Capital. “With near 25x growth over the past three years, and outstanding customer satisfaction ratings of 90%, it’s evident Closinglock is delivering exceptional value to its customers. We are excited to support the company in unlocking its full potential and driving further growth in the industry.”
Closinglock’s new capital raise comes amid rapid growth for the company – with its annual revenue increasing by more than 25x over the past three years. In 2024 alone, Closinglock doubled its Austin-based headcount to 73 and is in the process of securing a new downtown office space. The company expects continued hiring and growth throughout 2025.
About Closinglock
Closinglock provides fraud prevention technology to the real estate industry, modernizing transactions through a secure, easy-to-use platform. With Closinglock, settlement companies can exchange wire instructions, receive earnest money and cash-to-close payments, validate payoff accounts, verify identities, share documents and collect eSignatures. Trusted by thousands of title agents, and supported by leading financial service providers such as J.P. Morgan, Closinglock has protected over 1 million transactions totaling more than $500 billion. Learn more at Closinglock.com.
About Sageview Capital LP
Sageview Capital is a private investment firm focused on partnering with industry-defining innovators to build enduring software and tech-enabled businesses. With over $2.0 billion in assets under management, Sageview Capital collaborates with entrepreneurs on a custom approach, leveraging its decades of experience, operational expertise, and network in scaling many successful companies. The firm invests for the long-term and has guided many of its portfolio companies to IPO or acquisition—and beyond. Sageview Capital’s investments include 360insights, Aceable, Anitian, Atmosphere, CallRail, Carewell, Demandbase, DISQO, Elastic Path, Elemental Machines, Ezoic, Grocery TV, Impact Analytics, LoanStar Technologies, Pantheon, Pax8, Specright, Stensul, Theatro, User Interviews, and XSELL Technologies, among others. For more information, visit https://www.sageviewcapital.com.
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