Compass has announced that it has agreed to acquire title and escrow software startup, Modus. With this acquisition, Modus’ more than 60-person team and tech-backed closing process will join Compass’ already robust real estate platform.
On the acquisition, Compass CTO Joseph Sirosh said:
"Modus is transforming title and escrow from an offline, antiquated undertaking into a transparent tech-enabled solution that saves real estate agents time by simplifying the entire closing process.”
Modus’ CEO and Co-Founder, Alex Day explained that Compass’ customer-focused business model is in line with the way his company works.
The agreement is expected to close within the next month. Modus is the third software company transaction Compass has closed in the last 18 months. Modus joins CRM platform Contactually, and the team behind the AI-backed company, Detectica.