Closinglock Announces $4 Million Funding Led by LiveOak Venture Partners

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AUSTIN, Texas–(BUSINESS WIRE)–Closinglock, a proptech and fintech startup focused on modernizing the real estate transaction process, announces that it has closed a $4 million funding round led by LiveOak Venture Partners with participation from RWT Horizons and GTMfund . The funds will be used to grow its teams in the areas of sales, customer success and product development.

Wire fraud is one of the biggest problems in real estate today and is estimated to cost the industry over $1 billion a year in lost funds. With Closinglock’s secure portal technology and workflow platform, title and escrow professionals no longer need to share sensitive information via email when the bulk of the fraud occurs in real estate transactions.

Closinglock’s first product, a secure portal, was introduced in 2018 to protect title companies and law firms from the growing problem of real estate wire fraud. Since then, Closinglock has expanded its product offerings to include secure wire transfer instructions, document sharing, e-signature and loan repayment verifications, all on one platform. Today, Closinglock serves some of the nation’s largest title companies, home builders and real estate attorneys, representing more than $100 billion in transaction value to date in all 50 states and 42 countries.

“The primary concern for real estate title and escrow companies remains wire fraud, as a single incident of wire fraud can bankrupt entire organizations,” said Andy White, Ph.D., CEO of Closinglock. “Our current platform is widely adopted across the industry, but we also have exciting plans for the future across real estate transactions. To that end, we have sought out the best proptech investors in the world and are extremely proud to partner with LiveOak as our lead investor.

“Eliminating inefficiencies in the real estate transaction process is a theme we are passionate about across our proptech and fintech portfolio. Closinglock’s ability to build trust with buyers, brokers and securities companies by securing the highest risk element of the transaction provides the company with a unique opportunity to create a comprehensive platform to manage the entire process of closing the transaction,” said Mike Marcantonio, Partner at LiveOak Venture Partners and member of the Closinglock Board of Directors. “The industry’s outstanding response to this product over such a period of time is a testament to the magnitude of the problem and the unique combination of product development expertise, domain knowledge and security focus of the Closinglock team. We are thrilled to partner with the company as it embarks on the next stage of its journey.

About Closinglock

Closing lock continues to provide the industry-leading platform for securely sharing wire information while remaining simple and intuitive for the end user. To date, Closinglock’s platform has protected hundreds of thousands of real estate transactions with a total value of over $100 billion and continues to work with over 3,000 real estate escrow professionals across the country. The Closinglock platform has been used by customers in all 50 states and 42 countries.

About LiveOak Venture Partners

LiveOak Venture Partners is a venture capital fund based in Austin, Texas. With over 20 years of successful investments in Texas, the founders of LiveOak have helped create nearly $5 billion in business value. While nearly all of LiveOak’s investments begin in the early stages, LiveOak is a full lifecycle investor focused on technology and Texas-based technology-based service companies. With nearly $500 million under management, LiveOak Venture Partners has been the lead investor in more than 50 high-growth Texas-based companies over the past decade, including DISCO (NYSE:LAW), Digital Pharmacist, Eventus, OJO Labs, Opcity, Homeward and TrustRadius.

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