"Ricalis has managed real estate development projects and said his experience navigating property transactions highlighted inefficiencies in the title process. Titl aims to automate title search and provide continuous monitoring for changes that could affect ownership. The company uses artificial intelligence (AI) to aggregate and analyze property data, including ownership history, liens, taxes, permits and code violations. It also uses a blockchain-based ledger designed to make records resistant to tampering and independently verifiable."
"Since launching in January 2022, Titl has developed several products covering different stages of the title lifecycle. These include automated title reports generated in minutes, tools for producing title commitments from closing documents, continuous monitoring for fraud or unauthorized filings and pre-listing title checks for sellers and agents. The FBI's 2024 Internet Crime Report showed losses tied to real estate crimes totaling $173,586,820 in 2024. Paper-based records, manual filings and identity fraud have contributed to vulnerabilities in the system, Titl added."
"We are thrilled to invest in this technology and team. AI-powered applications like this create real demonstrable value for customers and investors, said David Gardner, founding partner at Cofounders Capital, who will join Titl's board. FIT Ventures is excited to join the founders of Titl on their journey to help modernize an antiquated industry as they build new, essential infrastructure for American land registries, said Brian Becker, partner at FIT Ventures."
Titl was founded by Ohayon, a former Goldman Sachs banker, and Tory Ricalis, a real estate developer. The company automates title search and provides continuous monitoring for ownership changes using artificial intelligence to aggregate and analyze property data such as ownership history, liens, taxes, permits and code violations. Titl also uses a blockchain-based ledger to make records resistant to tampering and independently verifiable. Since January 2022, Titl developed products including automated title reports, tools to produce title commitments, continuous fraud monitoring, and pre-listing title checks. Investors cite demonstrable customer value and highlight the product’s potential to reduce real estate fraud and system vulnerabilities.
Read at www.housingwire.com
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