New funding: Seattle digital home closing service JetClosing closed an $11 million Series B round. Funds and accounts advised by T. Rowe Price Associates invested, as well as Pioneer Square Labs and Trilogy Equity. Total funding to date is $44 million.
And a new leader: JetClosing on Friday also announced that former Amazon leader and ex-Bulletproof 360 chief Anna Collins is taking over as CEO. Collins previously led Bulletproof, a lifestyle company whose signature product is the brain-boosting butter-infused Bulletproof Coffee, as president and COO. She spent about six years at Amazon, including a role as GM of Worldwide Prime Membership, and also held leadership roles at PhotoRocket, Microsoft, drugstore.com, and aQuantive.
Collins takes over for Daniel Greenshields, who led JetClosing since 2016 when the company spun out of Pioneer Square Labs. Greenshields departed to pursue other opportunities.
The business: JetClosing digitizes the home closing process for buyers, sellers, and realtors, removing paper forms and bringing everything to the cloud. The 82-person company charges a flat escrow fee to both sides for each transaction and makes additional revenue on issuing owners and lenders title insurance policies. It also helps homeowners refinance.
JetClosing is licensed to operate in Arizona, Colorado, Nevada, Florida, Pennsylvania, Texas, and Washington.
Greenshields told GeekWire in July that the pandemic drove up demand for JetClosing as people rely on digital tools to skip in-person meetings and complete home transactions from anywhere in the world. JetClosing is part of a growing trend in real estate to shift the homebuying experience online, and is also benefiting from a strong U.S. real estate market.
Real estate tech hotbed: JetClosing is one of several startups in the Seattle region building tech for the real estate industry. Others include Flyhomes, Knock, Remarkably, Pro.com, Porch, MoxiWorks, IMPREV, Faira, Picket Homes, and more — not to mention industry giants such as Zillow Group and Redfin.