About Spruce
Spruce is a Real Estate & Construction company based in New York (United States) founded in 2016, and was acquired by Zillow Group in August 2023. Spruce is engaged in providing real estate closing services. It operates on a Professional Services model in Real Estate & Construction and Financial Services sectors. Spruce has raised $109.08 million across 4 funding rounds from investors including Zillow Group, Bessemer Venture Partners and Omidyar Network. The company has 169 employees. Spruce offers products and services including Real Estate Closing Services. Its focus areas include Real Estate, Real Estate Services and Title and Closing Services. Its legal entity is Zillow Closing Services Holdco, LLC. Its competitors include Qualia, Snapdocs and Doma; 3 of its 3 listed competitors have raised funding.
Company details
Spruce, a Zillow Group company, is focused on delivering fast, frictionless, and secure real estate closing services across the United States. Transactions worth over 20 billion are represented by the company nationwide. Services are provided to real estate agents, buyers, sellers, lenders, attorneys, and other partners. Cutting-edge technology is utilized to ensure transparency and communication throughout the closing process. Support is extended to all parties involved to create a seamless and stress-free experience from contract to close.
- Headquarters New York, United States
- Employees 169
- Stage Acquired
- SectorsReal Estate & ConstructionFinancial Services
- Email••••••••
- Phone•••• ••••
- Website spruce.co
- Social LinkedIn X
- Acquired by Zillow Group (Aug 2023)
- Legal Name Zillow Closing Services Holdco, Llc
- Total Equity Funding$109.08M (USD)
in 4 rounds
- Latest Funding Round$60M (USD), Series C
Jun 2021
- InvestorsZillow Group
& 7 more
- Employee Count169
- Acquired byZillow Group
(Aug 2023)
Products & Services of Spruce
Spruce offers a comprehensive portfolio of products and services, including Real Estate Closing Services.
Services for closing real estate transactions are provided.
Funding Insights of Spruce
Spruce has successfully raised a total of $109.08M across 4 strategic funding rounds. The most recent funding activity was a Series C round of $60 million completed in June 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $109.08M
- Total Rounds 4
- Last Round Series C — $60M
- First Round $4.5M
(May 2017)
- Investors Count 7
All 4 funding rounds of Spruce with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun 2021 | $60M | Series C | – | Zigg Capital | |
| May 2020 | $29M | Series B | – | Scale Venture Partners | |
| Jul 2018 | $15.58M | Series A | – | Bessemer Venture Partners, Omidyar Network | |
| May 2017 | $4.5M | Series A | – | Bessemer Venture Partners |
8 investors in total: 8 institutional.
Investors in Spruce
Spruce has secured backing from 8 investors, including venture fund investors. Prominent investors backing the company include Zillow Group, Bessemer Venture Partners and Omidyar Network.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital fund focused on multiple sectors | ziggcap.com | New York, United States | ||
Venture capital investments and support for entrepreneurs in technology and innovation sectors. | 1911 | bvp.com | Redwood City, United States | |
Early-stage venture capital investments are focused on US companies. | scalevp.com | Foster City, United States | ||
Investing in technology, digital culture, governance, and business initiatives. | 2004 | omidyar.com | Redwood City, United States | |
Private equity firm investing in multiple sectors | collabfund.com | New York, United States | ||
Early-stage startups are funded by Third Prime venture capital firm. | thirdprime.vc | New York, United States | ||
Pre-seed investments are provided to tech startups by Notation. | notation.vc | Brooklyn, United States | ||
Portfolio of real estate and home-related brands is operated online. | 2004 | zillowgroup.com | Seattle, United States |
Investor details for Spruce
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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People of Spruce
7 people are tracked at Spruce (2 in leadership, 1 in board & advisors, 4 in team); the tracked headcount is 169.
| Name | Role | Group |
|---|---|---|
Debra Hochman | Head of Title Solutions | Leadership |
Stuart Hartley | Head Of Global Operations Services | Leadership |
Ben Bergsma | Board Observer | Board & advisors |
Lauren Garza | Funding Manager | Team |
Christine Davis | Escrow Operations Manager | Team |
Josh Hirner | Lead - Client Experience, Closing Operations, Customer Support | Team |
Kinza Kazmi | Post Closing/ Mortgage Recording Specialist | Team |
Complete people profiles for Spruce
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Timeline of Spruce
4 dated milestones of Spruce across 7 years, from founding to its latest funding, stage changes and deals.
- Founded Spruce is founded.
- Funding First funding round of $4.5M.
- Funding Latest funding round, Series C, of $60.0M.
- Exit Acquired by Zillow Group.
Competitors of Spruce
Spruce has 3 listed competitors in our database, 3 of them funded. They include Qualia, Snapdocs and Doma.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| qualia.com | 2015 | San Francisco, United States | $207.18M | 525 | Qualia is recognized as a leading digital real estate closing platform. | |
| snapdocs.com | 2013 | San Francisco, United States | $265.12M | 505 | SaaS title settlement solutions are delivered to real estate professionals. | |
| doma.com | 2016 | San Francisco, United States | $444.13M | 1,062 | Title settlement solutions are delivered to real estate professionals. |
Detailed competitors of Spruce
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
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Web traffic of Spruce
The website of Spruce (spruce.co) receives about 2K visits a month.
- Monthly visits2K
▲ 0.9% vs previous month
Top companies in Real Estate Technology Platforms
3 companies that operate in the same segment as Spruce (Real Estate Technology Platforms) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Residential properties are listed and searched through an app-based platform. | 2005 | Seattle, Washington, United States | USD 87 M | |||
Residential properties are resold via an app-based platform. | 2014 | San Francisco, California, United States | USD 1.35 B | USD 2.71 M | 1,426 | |
Residential real estate search engine | 2005 | San Francisco, California, United States | USD 32.8 M |
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Related news about Spruce
Complete news archive for Spruce
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Frequently Asked Questions about Spruce
Spruce was founded in 2016 and raised its 1st funding round 1 year after it was founded.
Spruce is headquartered in New York, United States. It is registered at New York, New York, United States.
Spruce is a funded company, having raised a total of $109.08M across 4 funding rounds to date. The company's 1st funding round was a Series A of $4.5M, raised on May 2017.
Spruce has 169 employees.
Spruce, a Zillow Group company, is focused on delivering fast, frictionless, and secure real estate closing services across the United States. Transactions worth over 20 billion are represented by the company nationwide. Services are provided to real estate agents, buyers, sellers, lenders, attorneys, and other partners. Cutting-edge technology is utilized to ensure transparency and communication throughout the closing process. Support is extended to all parties involved to create a seamless and stress-free experience from contract to close.
Spruce offers Real Estate Closing Services.
Spruce has 8 investors. Key investors include Zillow Group, Bessemer Venture Partners, Omidyar Network, Zigg Capital, and Scale Venture Partners.
Spruce operates through Zillow Closing Services Holdco, Llc.
Yes. Spruce was acquired by Zillow Group in August 2023.