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Flueid secures $20M, states plans to scale home equity services

Company stated emphasis on to scaling home equity and loss mitigation products.

Flueid, a technology provider that offers decision-making data insights for real estate transactions, today announced securing $20 million in funding, including a Series B led by existing investor Aquiline Technology Growth (ATG) and a $5 million relationship extension with Silicon Valley Bank (SVB).

The Series B also included participation from Commerce Ventures, which also participated in Flueid’s early 2021 Series A. The company has grown in size and scope since then, claiming a 400% increase in revenue and 800% increase in monthly transaction volume in 2021.

It also has expanded its services, adding purchase and home equity transactions to its existing refinance capabilities, and improved its back-end connection infrastructure via its acquisition of Vodii in July 2021 (achieving SOC 2 Type I and Type II certifications).

Flueid has now supported more than one million transactions through its technology suite as of summer 2022, and says that it now plans to accelerate this momentum by “maturing and scaling products to support all housing market demands,” stating a particular focus on home equity and loss mitigation strategies.

The company’s core product, Flueid Decision, provides data and insights for clearing real estate transaction, and is currently used by multiple Fortune 500 companies. Flueid says this includes lenders, brokerages, real estate marketplaces, title agents and underwriters and platform providers.

“Over the last 18 months, we’ve evolved our technology to power multiple transaction types and arm our partners with a modern, tech-forward solution that helps them capitalize on any market shift,” said Peter Bowman, co-founder and CEO of Flueid, in the release. “This funding reinforces a shared confidence in our go-to-market strategy and our vision to power the real estate transaction from end-to-end with Flueid’s data, decisions and insights at the core.”

The tech company has also received notable industry recognition over the past year, placing #676 overall on the Inc. 5000 list of fastest growing companies in the U.S. (#52 in Texas, #23 in Austin, #84 in software). HousingWire also named Flueid to the HW Tech100 in both Real Estate and Mortgage categories, with CEO Peter Bowman also being named a 2022 Vanguard.

Flueid clearly now wants to leverage that wide-ranging service list and the relationships it already has to accelerate its new product developments to the larger market. Its acquisition of Vodii last year highlights a continued emphasis on back-end integrations and infrastructure development, also signaling a pivot to meet the market.

In other recent proptech news, Parity raised $5.7 million in funding to expand its multifamily, HVAC-focused energy management platform in the U.S. Fifth Wall and EY also collaborated to launch a climate impact tool suite for businesses.

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