Modus
Facts
- HQ
- Seattle, USA
- Sectors
- Real Estate, Technology
- Stage
- Acquired
Seattle Startup Inspectify Acquires Real Estate Appraisal Firm Aloft, Expanding Services for 300+ Clients
Seattle startup Inspectify acquired real estate appraisal startup Aloft in an all-cash deal, expanding its offerings to include inspections, underwriting, and valuations for over 300 clients. Inspectify, which has raised $23 million and grown revenue 90% in 2024, will add 30 Aloft employees to reach 80 total staff.
Seattle appraisal startup Aloft raises $20M Series A led by Fifth Wall, bringing total funding to $25M
Seattle startup Aloft raised $20 million in a Series A led by Fifth Wall to expand its appraisal software that delivers quotes in two minutes and facilitates inspections; the company has annualized revenue in the millions, works with dozens of national and regional lenders, and has raised $25 million total. Founded less than a year ago by CEO Travis Soukup and co‑founder Yongxing Deng, Aloft operates in Seattle and Portland and plans further expansion.
Washington Insurance Commissioner Orders Cease-and-Desist, $15,000 Minimum Fine for Modus Over Alleged Inducements
Seattle title-and-escrow startup Modus, recently acquired by Compass, received a cease-and-desist order from the Washington state insurance commissioner for allegedly offering inducements (free home warranties and other services) to real estate agents and clients; the company says it will appeal. On June 9 the commissioner also issued a minimum $15,000 fine, but Modus kept operating and its license will not be revoked.
Pioneer Square Labs spins out 25 startups in five years; six launched during pandemic surge
Seattle startup studio Pioneer Square Labs (PSL) spun out 25 startups in five years — six during a six-month pandemic stretch — by rapidly testing ideas, though it has yet to produce a breakout unicorn and faces criticism over founder dilution.
Seattle startup Plunk raises $2M+ to power AI-driven home valuation and renovation recommendations
Seattle startup Plunk, founded by Brian Lent and David Bluhm, has developed an app that uses image processing, AI and machine learning to evaluate home condition, estimate renovation-driven value increases (a "Plunk Value") and recommend specific projects; the company has 15 employees and has raised over $2 million to date, including an initial $1M reported in 2019.
Arrived Homes launches $100-share crowdfunding platform for rental-property investing, founded by ex-Simply Measured and Sprout Social executives
Arrived Homes, a Seattle startup founded by tech veterans Ryan Frazier, Kenny Cason and Alejandro Chouza with CFO Joel Mezistrano, launched a crowdfunding platform that lets people buy $100 shares in rental properties and earn passive income while the company handles acquisition, renovation and management. The team uses tech and big data to select properties and has posted its first homes for investment after over a year of development and regulatory work.
JetClosing raises $8.5M Series B led by T. Rowe Price amid pandemic-driven surge in digital home closings
Seattle-based JetClosing raised $8.5 million in a Series B led by funds advised by T. Rowe Price as demand for its digital title and escrow closing service surges during the COVID-19 pandemic. The company reported order activity up 124% from April to July, says digital notary adoption has accelerated, and total funding is now $35 million.
Knock raises $12M Series B led by Madrona as COVID-19 drives surge in remote apartment-management tool usage
Seattle rental-software startup Knock raised $12 million in a Series B led by Madrona Venture Group as demand for its apartment management tools and remote leasing features surged during the COVID-19 crisis.
People
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Alex Day Executive, CEO
