Endpoint Secures $150 Million in Additional Funding as It Continues to Simplify the Real Estate Closing Process

Rhea-AI Summary

Endpoint has secured an additional $150 million in funding from its parent company, First American Financial Corporation (NYSE: FAF), bringing total capital raised to $220 million. This funding will boost Endpoint's technology team and enhance title and settlement automation, targeting proptech firms and real estate professionals. Since its 2018 launch, Endpoint has closed over $2.5 billion in transactions and expanded operations in several states. The company aims to deliver a fully digital closing experience by leveraging advanced technology and automation.

Positive

• Secured additional $150 million funding from First American, raising total to $220 million.
• Closed over $2.5 billion in transactions since 2018.
• Expanded operations into Northern California and Texas, doubling employee base in 2021.
• Enhancements include AI integration for faster processes and a revamped API for better proptech integration.

Negative

• None.

Funding from First American will further accelerate Endpoint’s title and settlement automation and expand its platform for proptech companies and real estate professionals

EL SEGUNDO, Calif.--(BUSINESS WIRE)-- Endpoint, a digital title and settlement services company that provides a re-imagined closing experience for buyers, sellers, and their real estate agents, today announced that it has secured an additional $150 million in funding from its parent company, First American Financial Corporation, a leading provider of title insurance, settlement services and risk solutions for real estate transactions. This latest investment, which brings the total capital raised by the company to $220 million, will allow Endpoint to augment its technology team, further invest in title and settlement automation, and expand its capabilities for proptech companies and real estate professionals focused on delivering a re-imagined home closing process to their customers.

“Endpoint’s impressive growth reflects First American’s commitment to leading the digital transformation of title and settlement,” said Dennis Gilmore, CEO of First American Financial Corporation. “This next phase of investment will further accelerate our overall efforts to improve the process of transacting real estate.”

Since its launch in 2018, Endpoint has continued to surpass its growth targets, teaming with real estate agents, brokerage firms and proptech companies to close more than $2.5 billion in transactions. In 2021, Endpoint doubled its employee base as it expanded into Northern California and Texas, and continued to grow its existing operations in Washington, Arizona and Southern California. In addition, Endpoint has been a leader in executing remote online notarizations at scale.

Endpoint continues to enhance its platform, introduce new proprietary features, and increase automation that helps enable an increasingly efficient closing experience. Enhancements include leveraging artificial intelligence to expedite processes and reduce the time needed to complete tasks, allowing title and settlement services professionals to spend more time supporting buyers and sellers. Additionally, the recent release of a completely revamped application programming interface (API) will broaden integration capabilities with proptech companies and brokerages.

“The additional investment from First American supports our mission to deliver a fully digital closing experience to even more buyers, sellers and real estate professionals,” said Scott Martino, CEO of Endpoint. “The capital will fuel enhancements designed to further our position as the go-to company for agents and proptech companies focused on providing a purchase experience that integrates state-of-the-art technology and superior customer service.”

Endpoint’s technology and processes were built from the ground up to deliver a seamless purchase transaction and empower all parties throughout the closing process. Its human-driven, technology-enabled approach provides a digital and mobile solution for tech-forward real estate professionals and proptech companies eager to provide a re-imagined buying and selling process from start to finish.

About Endpoint

Endpoint is a digital title and settlement services company built from the ground up to deliver a re-imagined closing experience for real estate agents, proptech companies 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 by a diverse team of digital natives and industry veterans. The company is headquartered in El Segundo, Calif., with offices and operations in Washington, California, Arizona and Texas. 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; banking, trust and wealth management services; and other related products and services. With total revenue of $7.1 billion in 2020, the company offers its products and services directly and through its agents throughout the United States and abroad. In 2021, First American was named to the Fortune 100 Best Companies to Work For^® list for the sixth consecutive year. More information about the company can be found at www.firstam.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211019005343/en/

Media Contacts:

Marcus Ginnaty

Corporate Communications

First American Financial Corporation

714-250-3298

Alex Tumarinson

Head of Growth & Partnerships

Endpoint

424-234-7056

Investor Contact:

Craig Barberio

Investor Relations

First American Financial Corporation

714-250-5214

Source: Endpoint

FAQ

What is the funding amount announced by Endpoint from First American on October 19, 2021?

Endpoint secured an additional $150 million in funding from First American.

How much total capital has Endpoint raised as of October 2021?

Endpoint has raised a total of $220 million in capital.

What transactions value has Endpoint achieved since its inception?

Endpoint has closed over $2.5 billion in transactions since its launch in 2018.

Which states has Endpoint recently expanded operations into?

Endpoint has expanded operations into Northern California and Texas.

What technology improvements is Endpoint implementing with the new funding?

Endpoint plans to enhance title and settlement automation and integrate artificial intelligence.