Real estate risk management SaaS company will use capital to expand to new markets.
Sellers Shield™, the leader in risk-management and software solutions for the real estate industry, announced today that it has raised $15 million in Series A funding led by Elsewhere Partners. The funds will be used to expand the company’s market coverage across the United States, including Kentucky, Michigan, and Minnesota, and support continued team and product development.
Founded in 2015, Sellers Shield has developed an innovative, digital platform for real estate disclosure forms that reduces the likelihood of lawsuits for sellers, agents, and brokers, and provides legal protection for home sellers when a lawsuit occurs. The company works with top brokerages, associations, and software providers including Keller Williams Realty, Compass, eXp World Holdings, RE/MAX, Coldwell Banker, and Berkshire Hathaway HomeServices, Texas REALTORS®, and Lone Wolf Real Estate Technologies.
Bo Blackburn, real estate attorney and co-founder of Sellers Shield, says disclosure documents are at the heart of most home sale disputes, and sellers are historically the only party in the transaction not protected. Home Sale Legal Protection™ was developed as a response to this inequity, offering home sellers up to $20,000 in expert legal representation.
“Disclosure can be the poison pill in any home sale. We’re on a mission to prevent lawsuits for the residential real estate industry and protect home sellers from the financial and emotional hardship that stems when home sale lawsuits occur,” said Blackburn. “Elsewhere has been great. With their investment and expertise, we will be able to reach more agents and sellers, more effectively.”
Financing was driven by Sellers Shield’s proven adoption and explosive growth across 12 states since originally launching in Texas. In just the past three years more than 200,000 agents and sellers have used the platform for disclosure. The company is currently on track to triple annual revenue by the end of 2021. As part of the financing, Elsewhere Operating Advisor and Chief Product Officer at Snow Software, Sanjay Castelino, will join Sellers Shield’s board of directors.
“Agents want their clients and business protected from lawsuits, which is why our platform has taken off in the market and become the gold standard for disclosure,” stated CEO Jeff Daily. “We are thrilled to partner with Elsewhere Partners and have no doubt that their support and track record of success will help us achieve our goal of offering our product to every agent and seller in the country. It’s all gas, no brakes here at Sellers Shield.”
Sellers Shield has quickly become a leader in an increasingly dynamic PropTech sector that has already seen $8.5 billion in investment in the first half of 2021, according to GCA Advisors.
“Sellers Shield is innovating at the intersection of real estate and risk management. They have streamlined home sale disclosure forms to protect homeowners’ equity and mitigate risk for agents and brokerages,” said Elsewhere Partners Co-Founder and Partner, John Thornton. “We are thrilled to partner with Bo and Jeff as they deliver increasing value to real estate transaction stakeholders across the country.”
About Sellers Shield™
Based in Austin, Texas, Sellers Shield™ provides software solutions that protect real estate brokers, agents, and home sellers from lawsuits. Sellers Shield’s state-of-the-art protection is designed by industry experts to reduce the likelihood of a lawsuit as well as provide security to sellers if one occurs. To learn more, visit https://devsellersshield.ddns.net/.
About Elsewhere Partners
Elsewhere Partners is a growth-stage venture capital firm that invests in Elsewhere Outliers – business software companies that are located outside of traditional venture capital hubs and have achieved substantial customer traction and revenue growth without significant outside funding. Elsewhere Partners combines transitional capital with transformational expertise to help companies achieve exit readiness on their own terms. To learn more, visit www.elsewhere.partners.