Accel-KKR has made an investment in PropLogix, a provider of tech-enabled due diligence services and software for closing professionals. No financial terms were disclosed.
SARASOTA, Fla. and MENLO PARK, Calif., Aug. 27, 2021 /PRNewswire/ — PropLogix, a fast-growing title support company providing tech-enabled due diligence services and software for closing professionals, today announced it has secured a strategic growth investment from Accel-KKR, a leading technology-focused private equity firm. With this investment, PropLogix will accelerate market expansion plans, scale product development and pursue M&A opportunities. The company was recently recognized in the 2021 Inc. 5000 Fastest-Growing Private Companies for the fifth year in a row, having achieved 265% growth rate over the most recent three-year period.
PropLogix delivers a comprehensive offering of property intelligence and closing solutions, which drive significant value for title agents, underwriters, and ultimately, homebuyers and sellers who rely on complete information for informed decision-making and risk mitigation around one of the biggest purchases of their life. This transformational partnership combines PropLogix’s deep industry focus, award-winning innovation and growth-oriented culture with Accel-KKR’s successful track record helping software companies grow.
The current homebuying process is fragmented and slow – home closings often take months and are fraught with inefficiencies and redundancies, resulting in frustrations and delays. Through due diligence services fueled by proprietary workflow automation software and innovative SaaS and digital marketplace solutions, PropLogix helps customers accelerate time-to-value by reducing friction and frustration felt by real estate transaction counterparties in pre- and post-escrow closing periods.
“PropLogix was founded over 10 years ago to provide a better alternative to what was then a tedious and fragmented title search process that left homebuyers with information blindspots and potential financial exposures – all in the name of buying a home,” said Jesse Biter, CEO of PropLogix. “Fast forward a decade later, PropLogix is a technology-first leader in title due diligence, and we continue to see substantial growth year-over-year as thousands of customers fall in love with the benefits of efficiencies, speed and accuracy gained from using our proprietary software and digital services. The real estate market is still in the nascent stage of digital transformation, so we are very excited about partnering with Accel-KKR and tapping their software experience and significant resources to capitalize on the industry growth.”
“We have been impressed by PropLogix’s deep domain knowledge, market vision and strong team culture. As a partner to PropLogix, Accel-KKR is committed to and focused on providing capital and expertise to help the entire PropLogix team accelerate growth and scale their product and development capabilities,” said Greg Williams, Managing Director at Accel-KKR.
PropLogix supports title agents and agent-attorneys by providing detailed reports to complete key pieces of due diligence to issue title insurance policies. From pre-closing property information reports, title curative, tax certificates, municipal lien searches, and HOA closing letters, to post-closing release tracking, their services are enabled by proprietary technology and teams of highly-trained property researchers and checked by a Six Sigma certified quality control department. PropLogix also provides SaaS solutions to help get agents to the table with confidence. In 2020 the company launched ProperSign, the first remote online notarization platform made specifically with the title agent and real estate closing in mind. The PropLogix mission is to be the most helpful partner in the closing process and to ensure the consumer is protected. Visit PropLogix.com to learn more.