Blueprint Announces Acquisition and $16 Million in Series B Funding to Take Control of Real Estate Closings
Company Combines Agency and Underwriter Under One Roof to Give Buyers and Sellers Control of the Real Estate Closing Process
Addressing Fast-Growing Sector of Real Estate, One in Seven Residential Properties was Bought by a Professional Investor in Q121
NASHVILLE, Tenn., September 1, 2021-- Blueprint Holding Co. Inc. ("Blueprint"), owner of Blueprint Title, today announced that it has raised a $16 million Series B Round led by Forté Ventures and has acquired an underwriter, Southwest Land Title Insurance Company ("Southwest"). Blueprint's full-stack services and trusted technology platform now make it even easier for professional residential real estate buyers and sellers to take control of the entire closing process.
Full Stack Services Coupled with Technology Gets Deals Closed Efficiently
Blueprint serves the fastest-growing segment in residential real estate -- the professional market, which grew 107 percent in Q221 over Q221 according to a report by Redfin. Blueprint's partners include multi-state investors, lenders, wholesalers, proptech startups, and builders who transact frequently and need complete transparency throughout the closing process of every transaction.
Blueprint's technology platform provides that visibility and reduces friction by offering a comprehensive view of all transactions in a single, secure place. This helps ensure that residential real estate deals are closed with greater certainty, accuracy, speed, and often at significant cost savings through Southwest. Through the platform, Blueprint's partners can upload documents digitally, view detailed transaction information, receive automated status updates and communications for easy collaboration, and e-sign versus poring over and signing stacks of paper.
"The Blueprint experience stands out from the rest," said Chad Collishaw, Partner at EPOC Real Estate, a real estate fund based in Austin, TX. "We buy and sell properties on a daily basis and not only does Blueprint operate across states, their combination of intuitive platform, digital process, expert in-house team, and competitive pricing helps us streamline what is typically a very cumbersome process."
Acquisition Brings Full Stack Capabilities and Lower Title Premiums in Certain Markets*
Blueprint has also acquired an underwriter, Southwest Land Title Insurance Company, bringing innovative agency and underwriter capabilities together to better serve the market. Now with a one-stop shop that operates across several states, Blueprint gives its partners better control over their transactions. Southwest is currently licensed in Arizona, Nevada, North Carolina, Tennessee, and Texas, with more states coming soon. In Arizona, Nevada, North Carolina, and Tennessee, purchasers can typically save up to 40 percent on title premiums when compared to other major carriers*.
$16 Million Series B Round to Drive Company Expansion
The Series B round was led by Forté Ventures and included participation from new investors Avanta Ventures, Bull City Venture Partners, Greenlight Re Innovations, and Gaingels, as well as previous investors Mouro Capital, Tribeca Early Stage Partners, Liberty Mutual Strategic Ventures, and Mucker Capital. The company will use the funds to fuel footprint expansion and to continue building out the Blueprint platform. As part of the Series B, the company also announced that Forté Ventures' Hunter Hartwell joined Blueprint's board.
"Blueprint has taken a novel approach to the title insurance business by bringing together underwriting and agency services under one roof, and it speaks to the caliber of the team that they are able to simultaneously tackle the distribution, risk, and regulatory complexity of the combined entity," said Hartwell. "The Blueprint model is uniquely positioned to disrupt an industry that is large, yet not well understood. Their tech-forward approach provides transparent, consistent closing experiences across jurisdictions and lets professional real estate buyers and sellers get through the process more quickly than they can with other players. We are excited to partner with them as they grow and expand their business."
Accelerated Company Momentum
As more partners recognize the value of Blueprint's platform, the company is experiencing rapid expansion. The agency is now licensed in 26 states and operating in 19.** Since 2020, the team has expanded from 19 to 85 employees and has opened new offices in Chicago, Atlanta, and Austin.
The market Blueprint serves represents approximately 40 percent of total transaction volume, approaching $8 billion annually, and the company expects its 2021 revenue to grow 400 percent over 2020. To date, Blueprint has raised approximately $25 million.
"It should not be so difficult to properly buy and sell property," said Steve Berneman, Co-founder and CEO of Blueprint. "Through our innovative technology platform and full stack of services under one roof, buyers and sellers have control of the entire closing process and trust Blueprint to get deals closed quickly, efficiently and at competitive prices."
*Savings based on Owner's policies rates and are not guaranteed. They vary depending on state, cost of the property, and other factors. Please reach out to Blueprint Title directly to learn more.
**Product offerings vary by jurisdiction and are only available where Blueprint Title is licensed and operational. Closings are handled by a third-party attorney where required by law. Availability of features and services varies by market and applicable law.
About Blueprint Holding Co. Inc.
Blueprint believes in a world where closing real estate transitions isn't painful. We own an agency and underwriter that, combined, help us modernize how real estate closings work. Founded in 2017 and headquartered in Nashville, TN, Blueprint's agency, Blueprint Title, is licensed in 26 states and operational in 19.
About Forté Ventures
With offices in Atlanta and Silicon Valley, Forte Ventures is a multi-stage venture capital firm investing alongside leading Corporate VCs ("CVCs") in technology and tech-enabled businesses located across the U.S. and Canada. Forte Ventures' unique strategy is based on the belief that the right corporate strategic investors can act as a force multiplier for startups' growth. The team simultaneously focuses on helping entrepreneurs navigate the complexities of corporate investment and on serving as trusted partners to institutional and corporate strategic syndicate partners. For more information, please visit www.forteventures.com.
Michael Celiceo, CodePR
Venture Capital Database