Real Matters raises $100 mln, acquires Linear Title & Closing

Canadian real estate technology platform Real Matters Inc has secured an additional $100 million in a private placement deal and equity issue. The raise values the company at $653 million. The investors were not disclosed; however, Urbana Corp (TSX: URB, URB.A) has subsequently announced an increased investment in the company. Backers of prior Real Matters' rounds include Whitecap Venture Partners, Radar Capital and Wellington Financial. Markham, Ontario-based Real Matters also announced that an affiliate of the company has bought U.S.-based title search specialist Linear Title & Closing Ltd for up to US$96 million. With the acquisition, Real Matters reports it generates 95 percent of its revenue in the United States.