SAN FRANCISCO—This week, States Title closed a Series C financing round of $123 million led by Greenspring Associates in response to an unprecedented shift in the real estate industry's structural foundation and future economic uncertainty. States Title's patented technologies enable the use of data science to create predictive title insurance based on an assigned risk score.

This indicates how safe a property is from liens or liabilities, helping to achieve faster title processing and more efficient underwriting. The firm says it is applying "modern-day technology to ancient title and escrow processes to provide an instant customer closing experience, enable mortgage originators and Realtors to be more efficient, and lower costs for everyone involved".

"The most pressing need in our industry right now is to remove friction and cost from mortgage closings, and to do so with solutions that can deliver fully remote, instant digital experiences," said Max Simkoff, founder and CEO of States Title. "We are committed to further investment in our patented, industry-leading machine intelligence platform to support the goal of providing an instant closing experience at a lower cost. Right now we are witnessing an unprecedented shift in the structural foundation of the real estate industry, and this new funding will allow States Title to provide enhanced support for lenders, real estate agents and homeowners, as well as provide a solid foundation for continued technological investment in the face of future economic uncertainty."