El Segundo-based real estate company Endpoint announced Tuesday that it raised $150 million in fresh financing. The raise came by way of the startup’s parent company First American Financial Corporation.
Endpoint provides agents, buyers and sellers with a completely digital way to close on properties. The company’s AI-enabled platform, backed up by local teams of title and escrow experts, is used to streamline document submissions and speed up the closing process. The software can be accessed on the web or via iOS and Android apps.
Endpoint, founded in 2018, has managed to help agents close on more than $2.5 billion in transactions to date, according to the company.
“Real estate is the largest asset class in the world — and yet it has also been one of the slowest to adopt innovative, new technologies,” the company said in a statement. “It has become increasingly important for the industry to evolve alongside a consumer-base who are accustomed to mobile-first, on-demand, and personalized experiences in every area of their lives.”
Following Endpoint’s last raise in November of 2020, the company introduced a revamped version of its software with several new features including transaction management and activity tracking.
“We’re not just on a mission to simplify the home closing transaction, but to support all the companies out there looking to make the real estate process better for everyone,” Scott Martino, CEO of Endpoint, said in a post to LinkedIn. “While our technology is the vehicle, our people are the ones who make this happen.”
The digital broker, which previously only operated in Southern California, Arizona and Washington, has since expanded its service to cover properties in Northern California and Texas.
Endpoint charges a flat escrow rate that ranges from $550 per side in Texas ($550 paid by the buyer, $550 paid by the seller) to $1,000 per side in Washington and California. Those numbers stay consistent regardless of the price of the home, according to the company.
Following the latest raise, Endpoint plans to further the development of its automation tools and expand its technology team. The company has already doubled the size of its headcount this year and is currently on the lookout for over 20 fresh faces to join its El Segundo-based team. The digital broker is now hiring across departments with multiple engineering, sales and data roles available.
Endpoint has raised $220 million in venture capital financing to date, according to the company.
