Venture Capital

Softbank-backed Compass Acquires Title And Escrow Startup Modus

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Summary List Placement SoftBank-backed real estate brokerage Compass is acquiring title and escrow startup Modus, it announced Monday. The amount Compass paid to acquire Modus was not disclosed and the deal will close later this month. Modus, founded in 2018, has created a secure closing platform for home sales that holds home-purchase funds in escrow and connects home-buyers to title insurance providers. The company raised a $12.5 million Series A funding round last October, co-led by NFX and Felicis Ventures, and included funding from Liquid 2 Ventures, Mucker Capital, Hustle Fund, 500 Startups, Rambleside, and Cascadia Ventures.

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