Spruce Startup

Spruce Startup



Title insurance startup Spruce raises $4.5M in venture funding The company claims to offer faster, cheaper service

Spruce s Cofounder Patrick Burns and COO Andrew Weisgall

Title insurance startup Spruce raised $4.5 million in a Series A funding round from Bessemer Venture Partners, Omidyar Network, Third Prime Capital and other investors.

The company, founded by finance entrepreneurs Patrick Burns and Andrew Weisgall, claims to offer cheaper and faster title insurance上海千花网龙凤论坛

by using new tec上海同城对对碰交友社区

hnology to research and process contracts.

In a special report last year, The Real Deal broke down how title insurance firms collude to 上海夜网论坛

keep prices, and t爱上海

heir profits, high. Firms tend to compete by wining and dining clients rather than by offering 爱上海龙凤419桑拿

cheaper prices. In 2014, the industry made a net profit of $800 million on $12.2 billion on revenue.

“Why haven’t these companies kept up with the times, and applied modern technology to their operations? Lack of incentive, of course,” Spruce’s founders wrote in a blog post Friday. [TechCrunch] Konrad Putzier

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