Snapdocs is a networked digital closing platform that manages the cross-party workflow of mortgage closings, including appointment scheduling, status updates, and notifications. The platform integrates with major real estate technologies, working natively with loan origination, point-of-sale, title production, eNote, and Remote Online Notary solutions to enable seamless interaction at scale. Snapdocs reports total transaction volume in the hundreds of thousands of closings per month and says customers are on pace to close millions of mortgage transactions in 2021; the platform touches nearly 20% of all US real estate transactions, representing over $60B in mortgage value. The company says over 130,000 mortgage professionals rely on Snapdocs daily and that product, engineering, and customer success headcount increased by over 100% in the last year. The new capital will be used to accelerate Snapdocs’ vision of building the digital infrastructure that connects lenders, settlement services, and borrowers to digitize mortgage closings at scale. Snapdocs was founded in 2013 and is based in San Francisco. Snapdocs provides a cloud-based platform to digitally manage the mortgage closing process and the many documents and parties involved; it is used by roughly 130,000 real estate professionals. The platform is used by more than 70% of settlement agents nationally and counts customers such as Bell Bank, LeaderOne Financial Corporation, Googain, and Georgia United Credit Union. Snapdocs centralizes workflows across lenders, title companies, brokers, inspectors and other participants, and adds AI and analytics to flag issues and enable remote approvals. In August 2020 the platform closed 170,000 home sales (about $50 million in transactions), representing nearly 15% of U.S. deals that month, and the company was on track to close 1.5 million deals for the year—about double its 2019 volume. Financially, Snapdocs has raised $103 million to date and the company says most of that capital remains in the bank. Leadership sees the next five years as a full digitization of real estate closings and positions Snapdocs to become the operating system for mortgage closings. Founder and CEO Aaron King has deep mortgage experience (23 years) and the company participated in Y Combinator’s Winter 2014 cohort. Snapdocs provides a real estate technology platform featuring patented AI technology to modernize, streamline, and improve the mortgage process for lenders, borrowers, and settlement. The platform is used every day by over 50,000 mortgage professionals to automate manual work and digitize paper processes. Founded in 2013 and led by CEO Aaron King, the company is developing its artificial intelligence offerings and broader platform capabilities. Snapdocs intends to use its new funding to continue developing those AI offerings and platform enhancements. The company is also expanding its physical presence with the opening of a new office in Denver, Colorado. The business is headquartered in San Francisco, California.

Total raised

$235M

Funding rounds

3

Latest round

Series D

Latest activity

May 2021