Endpoint Announces New $40 Million Investment From First American to Expand Digital Real Estate Closing Platform

Rhea-AI Summary

Endpoint, a digital title and escrow company, has received an additional $40 million investment from its parent company, First American Financial Corporation, bringing total funding to $70 million. This funding aims to accelerate Endpoint’s hiring, technology development, and market expansion into new U.S. territories. Launched in Seattle, Endpoint has already expanded into Southern California and Arizona, doubling its workforce this year. The investment also supports enhancements to its platform, improving transaction management and customer experience.

Positive

• Additional investment of $40 million, increasing total funding to $70 million.
• Expansion into new U.S. markets, including Southern California and Arizona.
• Doubling of employee base this year.

Negative

• None.

EL SEGUNDO, Calif.--(BUSINESS WIRE)--Endpoint, a digital title and escrow company that provides a re-imagined closing experience for buyers, sellers, and their real estate agents, announced today an additional investment of $40 million from its parent company, First American Financial Corporation, a leading provider of title insurance, settlement services and risk solutions for real estate transactions. This investment brings the total funding received to date to $70 million, and will help accelerate Endpoint’s strategic hiring plans, proprietary technology development, and expansion into new U.S. markets.

“Endpoint’s early success reflects First American’s 130-year history of leading the title and settlement industry in enhancing the customer experience,” said Dennis Gilmore, CEO of First American Financial Corporation. “Our increased investment affirms our commitment to developing innovative, state-of-the-art technologies that improve the process of transacting real estate.”

Launched in Seattle, Endpoint surpassed its growth targets in the market and has since expanded operations into Southern California and Arizona. The company has doubled its employee base this year and is currently rolling out enhancements to its platform that further simplify transaction management and improve accessibility from any device.

“Today's home buyers and sellers live, work and play predominantly online where they expect a certain level of convenience and speed. Endpoint combines innovative technology with the expertise of experienced escrow officers and provides a digital compass for the most significant purchase of a home buyer’s lifetime,” said Scott Martino, CEO of Endpoint. “Our team is committed to supporting real estate agents and their clients as they navigate this process, while rapidly and conveniently completing their transactions.”

The investment will accelerate Endpoint’s geographic expansion and escrow automation development, enabling an increasingly secure and efficient settlement service. These efficiencies enable Endpoint’s teams to recapture time, which is then invested in providing better customer service to real estate agents, transaction coordinators, home buyers and sellers.

“There are a number of companies attempting to deploy technology to speed up the digitization of the real estate transaction,” said Paul Hurst, Managing Director, Venture Investments at First American Financial Corporation. “Endpoint has already validated the demand for, and the functionality of, its product and is now broadening its focus to fundamentally simplify and automate the escrow process across all states, with the support of First American.”

Endpoint’s digital title and escrow platform offers tools across its web, iOS and Android apps that help real estate agents grow their repeat and referral business. With a completely revamped interface launched earlier this month and new features, including optimized transaction management and activity tracking, Endpoint enables real estate professionals to deliver an enhanced closing experience for their home buyers and sellers.

About Endpoint

Endpoint is a digital title and escrow company, built from the ground up to deliver a re-imagined closing experience for real estate agents and their buyers and sellers. Through its digital platform, Endpoint keeps everyone effortlessly and securely in the know throughout the transaction, while providing a simplified real estate closing from start to finish. Endpoint was founded in 2018 with a diverse team of digital natives and industry veterans. The company is headquartered in El Segundo, California, with offices and operations in Washington, California and Arizona. For more information, please visit www.endpointclosing.com.

About First American

First American Financial Corporation (NYSE: FAF) is a leading provider of title insurance, settlement services and risk solutions for real estate transactions that traces its heritage back to 1889. First American also provides title plant management services; title and other real property records and images; valuation products and services; home warranty products; property and casualty insurance; banking, trust and wealth management services; and other related products and services. With total revenue of $6.2 billion in 2019, the company offers its products and services directly and through its agents throughout the United States and abroad. In 2020, First American was named to the Fortune 100 Best Companies to Work For^® list for the fifth consecutive year. More information about the company can be found at www.firstam.com.