May 6, 2021
SAN FRANCISCO–(BUSINESS WIRE)–Doma, a leading force for disruptive change in the real estate industry, today announced its expansion into three new markets, representing a key milestone in Doma’s plan to provide coverage nationwide* through the Doma Intelligence platform. The addition of Massachusetts, South Carolina and Wisconsin to the Doma network means the company’s Doma Intelligence platform now covers approximately 76 percent of the United States based on gross written premium. Today’s announcement comes on the heels of Doma entering into a business combination agreement in March 2021 with Capitol Investment Corp. V (NYSE: CAP, CAP WS and CAP.U) (“Capitol”), a publicly traded special purpose acquisition company.
Leading lenders like Chase, Homepoint, and PennyMac now have the ability to utilize the Doma Intelligence platform and the company’s proprietary machine-learning technology across these three additional states. Doma’s real estate closing solutions, including the company’s machine-learning-driven instant underwriting and fee balancing features, are designed to remove large chunks of the title and escrow workflow, and to automate the most time-consuming portions of the transaction.
“Our mission is to remove the friction and frustration from the home buying process, and with every new state expansion, Doma’s technology enabled solutions will benefit more lenders, real estate agents, and consumers,” said Max Simkoff, CEO of Doma. “As we accelerate growth across the country, we look forward to the day when paper-heavy, time-consuming closing processes are completely a thing of the past.”
*Except for Iowa, which does not participate in the private title insurance industry.
About Doma
Doma (formerly States Title Holding) is architecting the future of real estate transactions. The company uses machine intelligence and its patented technology solutions to transform residential real estate, making closings instant and affordable. Doma and its family of brands – States Title, North American Title Company (NATC) and North American Title Insurance Company (NATIC) – offer solutions for lenders, real estate agents, title agents, and homeowners that make closings vastly more simple and efficient, reducing cost and increasing customer satisfaction. Doma’s clients include some of the largest bank and non-bank lenders in the United States. In March 2021, Doma announced plans to become publicly-traded via a merger with Capitol Investment Corp. V (NYSE: CAP, CAP WS and CAP.U). To learn more visit doma.com or statestitle.com.
About Capitol Investment Corp. V
Capitol Investment Corp. V is a $345 million public investment vehicle with the mission to invest in and help build an industry-leading public company that will aim to deliver long-term value to shareholders. Capitol is led by Chairman and Chief Executive Officer, Mark D. Ein, and President and Chief Financial Officer, L. Dyson Dryden. The Capitol team has raised $1.5 billion in five SPACs since 2007 and closed four SPAC mergers. Capitol’s securities are listed on the New York Stock Exchange under the ticker symbols CAP, CAP WS and CAP.U.
Forward-Looking Statements Legend
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Doma’s and Capitol’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict, will differ from assumptions and are beyond the control of Doma and Capitol.
If any of these risks materialize or Doma’s or Capitol’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. In addition, forward-looking statements reflect Doma’s and Capitol’s expectations, plans or forecasts of future events and views as of the date of this press release. Doma and Capitol anticipate that subsequent events and developments will cause Doma’s and Capitol’s assessments to change.