CertifID, the leading wire fraud protection company, has recently secured $20 million in funding to combat wire fraud in the real estate industry. The Series B funding round was led by Arthur Ventures, the same firm that invested in CertifID’s $12.5 million Series A round in May 2022.
CertifID has experienced strong adoption of its wire fraud protection software, insurance, and recovery services, leading to the successful launch of its newest product, PayoffProtect. The company has also doubled its customer base and formed important enterprise partnerships, including one with global fintech leader Acrisure.
The real estate sector has seen a significant increase in fraud against transactions, with a 72% surge in business email compromise reported by the FBI from 2020 to 2022. Despite relying on manual processes to verify banking and identity details, the industry processes trillions of dollars in payments annually, making it an attractive target for fraudsters.
CertifID aims to be the frontline defense against wire fraud in the real estate industry. Since its founding, the company has protected billions of dollars and helped recover over $60 million in stolen funds for victims. The new investment will allow CertifID to continue safeguarding against the growing risks of fraud.
CertifID’s mission is of utmost importance to the U.S. economy, as wire fraud poses a significant threat to real estate transactions. The company remains committed to providing the products and services needed to protect closing funds for consumers and businesses.
This funding announcement follows several prestigious honors for CertifID, including being recognized as the 23rd fastest-growing private software company in the U.S. in 2023 by Inc. 5000, HousingWire’s Tech 100, Built In’s Best Places to Work 2023, and Inc.’s Best Places to Work 2023.
CertifID is a trusted partner for title companies, law firms, lenders, realtors, home buyers and sellers, and others. The company offers advanced software, insurance, and recovery services, providing peace of mind with up to $1 million in direct coverage on every wire it protects.
In summary, CertifID has secured $20 million in funding to combat wire fraud in the real estate industry. The company’s robust protection software, insurance, and recovery services have gained significant traction, and the investment will support continued product development and scaling operations to meet the demands of the industry. With wire fraud on the rise in real estate transactions, CertifID remains dedicated to protecting consumers and businesses from fraudulent attacks.
