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ClosingLock
Real estate wire fraud prevention
- 21-100 employees
- Retail
- B2B
- Real Estate
- SaaS
- Cyber Security
- Fraud
- Walnut Creek Business Park, Austin, TX
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Company mission
To protect title companies, attorney offices, and their customers from social engineering, email spoofing, clone phishing, email hacking, imposter fraud, and compromised accounts.
Our take
Wire fraud accounts for an estimated $1 billion dollars every year within real estate, and the prevalence of this kind of fraud is on the rise. ClosingLock is aiming to stop this, by providing secure communications and a payment platform to real estate business.
Most wire fraud in this industry is committed via email hacks, so ClosingLock’s initial product was a secure portal for payment communications, but it has since grown. The company now offers docs-sharing and loan verifications on its platform as well, marketing itself as the do-it-all payment security platform for real estate.
Its model has been successful, with over $100 billion In transaction value in its first four years. But there are other companies offering fraud prevention services - rival Pondurance offers a data/expert-integrated fraud detection service, though not specifically aimed at the real estate industry. ClosingLock hasn’t quite cornered the market, but it is building up to be a strong player.
Kirsty
Company Specialist at Welcome to the Jungle
Benefits
- Unlimited PTO
- Downtown parking included
- Medical, dental, and vision insurance
Company values
- Provide Superior Customer Service
- Deliver High Quality Products
- Lead with Humility
- Work with a Purpose
Funding (2 rounds)
Feb 2024
$12m
SERIES A
Aug 2022
$4m
SEED
Total funding: $16m
Leadership
Abigail White
(Co-founder)Previously worked as Assistant General Manager at Village Mall Management, and Assistant Manager at Anthropologie. They were also a Staff Writer and Digital Media Specialist at The American Genius.
Andy White
(Co-founder & CEO)Formerly an Engineering Scientist at KnuEdge and Performance Architect at Samsung.
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Jobs (7)
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Sales & Account Management