CertifID, a real estate fraud prevention platform, has acquired Closinglock, an escrow management solution for securely moving money during real estate transactions. The combined companies aim to make the closing experience connected, digital, guided and simple for everyone involved.
The acquisition merges complementary capabilities across identity verification, fraud prevention, secure payments and real estate closing workflows. But the main focus of this combination is to apply AI to the home-buying process, making it more intuitive without compromising the protection needed for such a large transaction. The platform will verify participants, accounts and funds early on, then carry that trust through every interaction.
“Title companies are being asked to protect more, move faster and deliver a better experience at a time when the risks have never been greater,” Tyler Adams, CertifID CEO and co-founder, said in a statement. “The challenges facing the real estate industry are real, persistent and bigger than any one company or product can solve alone. By bringing our technology and expertise together, we seek to stay ahead of emerging threats while elevating the closing experience.”
The acquisition is CertifID’s second within four months. The newly expanded organization encompasses 220 employees and serves more than 3,000 title companies and 35,000 title professionals across the U.S. As part of the deal, Adams will serve as CEO of the combined company while Andy White, Closinglock’s CEO and co-founder, will assume the role of chief strategy officer.
