Snapdocs Valuation Climbs to Over $1.5 Billion With Series D Round
Palo Alto – May 28, 2021 – Cooley advised Snapdocs, a digital closing platform for the mortgage industry, on its $150 million Series D financing round, which brings its valuation to more than $1.5 billion. Partner Kevin Rooney led the Cooley team advising Snapdocs.
Tiger Global led the round, which also included participation from Sequoia, Y Combinator, F-Prime, Maverick, Alkeon and Wellington Management. Snapdocs will use the new capital to accelerate its vision of building a digital infrastructure that connects lenders, settlement services and borrowers together to digitize mortgage closings at scale.
“Closings require tight coordination between many parties in a fragmented ecosystem, all of whom have their own systems and processes,” Aaron King, founder and CEO of Snapdocs, said in a news release. “Snapdocs is in the background doing the hard work of connecting the ecosystem to orchestrate the perfect close.”
Founded in 2013, Snapdocs is on a mission to perfect mortgage closings by automating manual work and digitizing paper processes for mortgage professionals. The platform connects and integrates with all major real estate technologies, working natively with leading loan origination, point of sale, title production, eNote and remote online notary solutions, enabling them all to seamlessly interact at scale.
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