Proptech Startup Spruce Raises Capital

May 25, 2020
Share this Post: 

In the wake of the pandemic’s first wave, innovation has sprung up to answer the call. Many real estate companies have been turning to proptech to continue offering their services while also obeying stay-at-home measures. With this comes the need for more tech firms to offer these services. 

This is where Spruce comes in. The NYC-based startup offers digitization of real estate transaction paperwork, like title handling, closing documents completion, and monitoring compliance in every other part of the real estate transaction lifecycle. 

Recently, the company has raised $29 million in growth capital led by Alex Niehenke at Scale Venture Partners. Zigg Capital and Bessemer participated in the round.

Patrick Burns, Spruce Co-Founder and CEO, said:

“Instead of using local offices with manual communication and manual processes, we provide [our clients] with API’s that allow them to scale effectively and to provide great digital experiences to their customers.”

The capital will go towards cinching client partnerships and expanding Spruce’s product offerings

Proptech has seen a jump in prosperity in recent years, and even more so in recent months, and Spruce is the perfect example.

May 25, 2020
Victoria has been writing about property portals and marketplace sites for Online Marketplaces for over 3 years. She is also our resident artist and is responsible for all of the infographic content on the site.

Subscribe to our mailing list to get news updates!

Enter your email address and get updates from Online Marketplaces.

Related News

Board Room
Zoopla Creates Agent Advisory Board to Give Customers a Say on Lettings Policy

British #2 portal Zoopla has launched a Lettings Advisory Board made up mostly of its agent customers as it looks...

Read More
Spanish Proptech Firms
Housfy Gets Funding and Casavo Expands as Spanish PropTech Market Heats Up

The Spanish PropTech market is heating up with two prominent companies in the market announcing positive news this week. Online...

Read More
Leboncoin Op 1
LeBonCoin Launches New Offering to Help Agents Win Sales Instructions

The French classifieds market leader LeBonCoin has today announced the launch of a new package for real estate agents. The...

Read More
Domain Data
Domain Acquires Data Services Provider Insight Data Solutions

Australian portal company Domain has today announced that it has agreed to acquire data services provider Insight Data Solutions (IDS)....

Read More

Popular News