• LiveOak Ventures and Detroit Venture Partners join existing investment groups, Aquiline and Commerce Ventures, backing the company’s VOT vision
• The capital will fuel product development, business growth and go-to-market initiatives

October 31, 2024 10:00 AM Eastern Daylight Time

AUSTIN, Texas–(BUSINESS WIRE)–Flueid, the leading VOT™ (Verification of Title) company for residential real estate transactions, today announced it has secured $8.3 million in capital to accelerate product development, drive business growth, and expand its go-to-market strategy for its VOT solutions suite. This growth financing round was led by LiveOak Ventures, an Austin-based venture capital firm focused on investing in exceptional Texas-based founders. Additional participation came from Detroit Venture Partners—a venture capital fund created by Dan Gilbert, founder and chairman of Rocket Companies—alongside existing investors Aquiline and Commerce Ventures.

With this funding and the collaboration of our investment partners, we’re confident we can establish VOT as a standard verification service across all transactions. Post this

“We built Flueid on the belief that data must be made available to not only identify title risk but also help streamline, harmonize, and increase transparency for everyone involved in a transaction,” said Peter Bowman, Flueid’s Co-Founder and CEO. “Our technology has gained strong momentum in the title industry and is widely accepted by top insurers who specialize in understanding and mitigating title risks. But we’re not stopping there. Traditionally, title is verified days into the mortgage origination or servicing process. Improving understanding and visibility into title risks earlier in the process is critical, as it will foster greater integration and connectivity between mortgage originators and title providers and deliver a more streamlined experience. With this funding and the collaboration of our investment partners, we’re confident we can establish VOT as a standard verification service across all transactions.”

“The centerpiece of our investment strategy is to back founders and teams that are exceptionally strong in their respective domains and disrupting large industries with their novel solutions. Our investment in Flueid exemplifies this strategy and, in particular, continues our rich tradition of backing technology leaders in the real estate industry,” said Krishna Srinivasan, co-founder of LiveOak Ventures. “Flueid has already shown significant traction and momentum while eliminating major bottlenecks in the real estate transaction lifecycle, and as such, we are excited to see the full VOT vision come to life.”

Flueid offers a comprehensive suite of technologies that make it faster and easier to uncover the condition of title and associated risks in residential real estate transactions. The company’s VOT products help title agents and underwriters expedite the traditional title search and examination process while automating title insurance underwriting. For mortgage lenders, servicers, and real estate professionals, Flueid’s VOT tools provide an upfront TitleCheck^® as a trusted verification of the property’s title status while identifying any existing title issues that could impact a transaction’s complexity or timeline. This enhances transparency and certainty between title and non-title parties while improving the consumer experience.

“It’s our mission at Detroit Venture Partners to back tech companies that are moving the world forward and we believe Flueid’s vision for VOT will be transformational within the mortgage space,” said Jared Stasik, partner at Detroit Venture Partners. “They’ve been able to do something no one else has—use innovative technology to fuel a fast and efficient title process and make insights from that process available to anyone. We are excited to see the power of VOT grow, scale, and become an industry standard across the real estate life cycle.”

To learn more about Flueid, its products, services, and leadership team, please visit https://www.flueid.com/.

About Flueid

Flueid is the leading VOT™ (Verification of Title) company shaping the future of title risk transparency for the residential real estate, lending, title and closing, servicing, and secondary markets sectors. Our mission is to make VOT intelligence standard for everyone across the real estate lifecycle, fueling streamlined transactions from start to finish. With our VOT solutions suite, consumer and property insights—typically unavailable until after a title commitment is ordered and delivered—are now immediately accessible at the start of every provider’s process. Transactions Fueled by Flueid^® are supported by our flagship, title underwriter-approved VOT platform, Flueid Decision, ensuring a transparent, consistent, and industry-supported approach to title innovation that does not compromise title risk certainty. To learn more, visit www.verificationoftitle.com or www.flueid.com.

About LiveOak Ventures

LiveOak Ventures is an early-stage venture capital firm based in Austin, Texas. With over 23 years of successful venture investing in Texas, the founders of LiveOak have helped create nearly $5 billion of enterprise value. While almost all of LiveOak’s investments begin in the early stages, LiveOak is a complete life cycle investor focused on technology and technology-enabled service companies. With nearly $500M under management, LiveOak has led investments in 60 high-growth Texas-based companies, including DISCO (NYSE: LAW), Eventus, OJO Labs, AmplifAI, Homeward, Take Command Health, and Osano. Recognized as the Venture Capital Firm of the Year at the inaugural A-List awards by the Greater Austin Chamber of Commerce, LiveOak is dedicated to supporting local founders, fostering the next generation of leaders, and building category-dominating companies.

About Detroit Venture Partners

Since 2010, Detroit Venture Partners has been committed to backing and founding early-stage tech companies that we believe move the world forward. DVP was founded by Dan Gilbert, Rocket Mortgage Founder and Chairman, with a vision to grow Detroit’s entrepreneurial community. We partner with visionary founders and help our portfolio companies succeed by leveraging the more than 100 companies within the Rock Family of Companies, including Rocket Mortgage, Cleveland Cavaliers, Bedrock, and StockX. Learn more at www.detroit.vc.

About Aquiline

Aquiline Capital Partners LP (“Aquiline”) is a private investment firm based in New York, London, Philadelphia, and Greenwich, Connecticut, that is dedicated to financial services and technology. As of June 30, 2024, Aquiline has approximately $10.8 billion of assets under management and has deployed approximately $7.0 billion of capital across the firm’s three strategies in private equity, venture capital, and credit. For more information about Aquiline, its investment professionals, and its portfolio companies, visit www.aquiline.com

About Commerce Ventures

Commerce Ventures is an early-stage venture capital firm built to invest in the platforms and infrastructure that enable both the digitization of industry incumbents and the creation of new challenger brands across the Commerce Continuum. Since its inception, the firm has invested in over 100 companies, including category leaders such as Bill.com (BILL), Canary, Candex, Forter, FleetOps, Kevel, Kin, Marqeta (MQ), Mudflap, MX, Narvar, Socure, Trove and Vestwell.

Contacts

Media Inquiries

Liz Lilly
Flueid
Liz.Lilly@Flueid.com
(737) 703-3578

Julianna Giraldo
LiveOak Ventures
julianna@liveoak.vc

Gary Pettit
ROCK
garypettit@rock.com

Aquiline
aquiline@apellaadvisors.com

Julie VerHage-Greenberg
Commerce Ventures
julie@commerce.vc

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