In our most recent true estate tech entrepreneur job interview, we’re talking with Andy White from ClosingLock.
Who are you and what do you do?
My name is Andy White and I’m the CEO and Co-founder of ClosingLock. In 2017 my spouse and I uncovered how pervasive wire fraud was becoming in true estate, and made a decision to build a secure but basic substitute to e mail to secure title corporations, loan companies, and house customers/sellers from wire fraud. In advance of beginning ClosingLock, I worked as a computer engineer for various tech corporations – from a startup that raised in excess of $100M to the globally-identified tech giant Samsung. Prior to that, I finished a BS, MS, and PhD in Computer system and Electrical Engineering at Auburn College (War eagle!). I’ve revealed papers in intercontinental scientific journals, been award seven patents in the computer components and software package industries, and am named as an inventor on 5 other patent purposes. My spouse can make me consist of all of that since she’s happy of me, but I’m cringing appropriate now since I never acquire myself too critically.
What trouble does your products/services solve?
ClosingLock’s most important services presents a secure and basic substitute to e mail for title and settlement corporations to mail and obtain wire instructions. Previous yr by itself the US dropped $221M to true estate wire fraud which was up 47% from 2018. By partnering with settlement corporations, we now secure in excess of $1B just about every thirty day period from wire fraud. Doing the job with our consumers, we’ve now developed to incorporate supplemental attributes like eSigning, lender account verification, and mortgage payoff verification companies. In the long run, we want to assure each house consumer, seller, loan company and true estate agent has a secure and basic closing.
What are you most fired up about appropriate now?
We’re presently operating on integrations with many title enterprise software package companies that will be a massive leg up for our enterprise. We are already integrated with RamQuest and cannot wait around to companion with the industry’s other large hitters. Apart from that, I constantly see persons dropping their existence cost savings to wire fraud so I’m constantly fired up to see us secure more transactions just about every thirty day period. It’s genuinely thrilling to know that just about every time we on-board a new enterprise, we’re safeguarding their customer’s existence cost savings from fraud!
What’s upcoming for you?
Escalating our marketing and advertising outreach and revenue staff is upcoming on our horizon. We have invested so much of the earlier yr focusing on integrations and adding requested attributes, now I want to genuinely aim on growing.
What’s a lead to you’re passionate about and why?
Community To start with! Village below in Austin, TX is an remarkable system, which is why ClosingLock constantly donates to their lead to. It’s a fifty one acre community of micro and RV households that presents everlasting housing and guidance for chronically homeless persons. The goal is to eradicate homelessness in central Texas, and then develop nationally. I’ve normally experienced a smooth spot for homeless persons and there’s normally a fantastic line in between aiding and enabling. Community To start with! Village is the great way to offer guidance, both as a result of dollars or time, and know that it will enable. And finally, I also produce foods from time to time for Food on Wheels which aids guidance our community seniors so they never have to get worried about hunger.
Thanks to Andy for sharing his story. If you’d like to connect, find him on LinkedIn below.
We’re constantly hunting for excellent true estate tech entrepreneurs to function. If that is you, please read through this post — then drop me a line (drew @ geekestatelabs dot com).