# Modus Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/modus-technologies

- Industry: Commercial Property
- Headquarters: Seattle, US
- Website: www.modusclosing.com
- Total disclosed funding: $13M
- Latest round: Series A (Oct 31, 2019)
- Investors on record: 8

## About

Modus Technologies, Inc. offers innovative solutions that streamline the real estate closing process, enhancing efficiency and communication among agents, clients, and lenders through a digital platform.Founded in 2018, Modus Technologies, Inc. is based in Seattle, US, and specializes in real estate transaction solutions. The company has completed a total of 4 deals with its most recent deal occurring on October 5, 2020. Modus successfully raised USD 12.50 mn in a Series A funding round led by investors including 500 Global, Cascadia Capital, LLC, and Felicis Ventures. This capital supported their growth strategy as they look to expand their offerings in the market.Modus Closing specializes in providing innovative solutions tailored for the real estate closing process, focusing on streamlining transactions for both real estate professionals and clients. Their core offerings include a digital closing platform that facilitates seamless communication and documentation management among all parties involved in a transaction. This platform enhances the efficiency of closings by allowing for electronic signatures, secure document sharing, and real-time updates. Modus primarily serves real estate agents, brokers, title companies, and lenders, targeting clients in urban and suburban markets across the United States.Revenue for Modus Closing is primarily generated through subscription-based models, allowing real estate professionals to access their digital closing platform via tiered pricing plans. Clients engage in contracts that support annual or monthly billing based on their service needs. This B2B structure positions Modus as a vital partner in the real estate transaction ecosystem, enhancing operational efficiency and client satisfaction through their flagship platform.In the upcoming years, Modus Technologies intends to launch new features for their digital closing platform to further enhance user experience. The company plans to expand its services into additional metropolitan areas across the US by the end of 2023. Recent funding from the Series A round will be utilized to support these product developments and market expansions. In October 2020, Modus was acquired by Urban Compass, Inc., a move that has positioned it for continued growth in the real estate technology sector.

## Funding rounds

- Series A, Oct 31, 2019, $13M — Felicis Ventures, 500 Global, Mucker Capital, Cascadia Capital, LLC, Liquid 2 Ventures, NFX, Hustle Fund, Rambleside Real Estate Capital
- Seed, May 31, 2018 — 500 Global

## Investors

- 500 Global (https://capitalatlas.ai/funds/500-global) — Seed, Series A
- Felicis Ventures (https://capitalatlas.ai/funds/felicis-ventures) — Series A
- Mucker Capital (https://capitalatlas.ai/funds/mucker-capital) — Series A
- Cascadia Capital, LLC — Series A
- Liquid 2 Ventures (https://capitalatlas.ai/funds/liquid-2-ventures) — Series A
- NFX (https://capitalatlas.ai/funds/nfx) — Series A
- Hustle Fund (https://capitalatlas.ai/funds/hustle-fund) — Series A
- Rambleside Real Estate Capital — Series A