CertifID, a startup developing fraud prevention tech for the real estate market, today announced that it raised $20 million in a funding round led by Arthur Ventures at “over double” its previous valuation.
CertifID primarily develops products to fight wire fraud. The startup’s co-founder, Thomas Cronkright, launched the company in 2017 after losing $180,000 to fraud at his real estate title agency in Grand Rapids, Michigan.
Typically, in wire fraud involving real estate transactions, criminals find information about upcoming real estate closings by hacking into email accounts — often potential homeowners. Posing as legitimate reps of financial institutions, they email homebuyers fraudulent wire …
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