I’m excited to announce today that Qualia has acquired Adeptive Software, the developer of ResWare, a complementary title and escrow production software well known throughout the real estate industry. We also announced a Series D fundraise that puts Qualia’s valuation over $1 billion, led once again by Tiger Global alongside our other existing investors.
We’re very excited about what this acquisition and financing means for the next stage of Qualia’s growth. Adeptive brings an almost 20 year track record of providing exceptional software and services to the title and escrow industry. Over this time, they’ve built enterprise-class software used by some of the largest and most complex title operations, complete with a host of integrations for their service partners. With our combined ecosystem of customers and partners, we now have an opportunity to power the industry to deliver an even greater level of service to the homebuyer.
Today, to a large degree, the real estate industry still operates like it did years ago before the internet. Qualia is at the very beginning of a decades-long effort to change that – we’re on a mission with our customers to modernize real estate. We’ve come a long way in our first five years, but there’s still so much more to be done.
As everyone in the industry knows well, real estate is local, complicated, and personal in nature. This year, the pains of the pandemic made especially clear how challenging the real estate transaction is. On top of that, the very real differences in consumer expectations introduces another layer of complexity to the process. Some people want to close in person, others prefer to close remotely. Some people want white glove service from start to finish, others prefer the for sale-by-owner or iBuyer option. No two homebuying experiences are the same.
Ultimately, what’s required is a solution that caters to all of these use cases in a seamless, secure, and transparent way. That’s where Qualia comes in. We build the infrastructure that empowers companies of all shapes and sizes to modernize their local corner of the real estate market. By doing so, we’re eliminating the costly and time consuming technological barriers that have stood in the way of our customers being able to innovate for their clients. The addition of ResWare to Qualia’s suite of products only further accelerates that process. We’re looking forward to having the Adeptive team help us achieve our vision of making it easy for consumers to buy and sell homes over the coming years.