—Since 2019, the company’s venture capital arm has invested in more than 20 high-growth proptech companies—
SANTA ANA, Calif., May 04, 2022–(BUSINESS WIRE)–First American Financial Corporation (NYSE: FAF), a premier provider of title, settlement and risk solutions for real estate transactions and the leader in the digital transformation of its industry, today launched the official brand and website for the company’s venture capital arm – Parker89. Since 2019, First American’s venture capital arm has invested over $350 million in more than 20 high-growth proptech companies, many of which have become strategic partners and customers.
“Our venture investment portfolio is an important contributor to our leadership of the digital transformation of the title and settlement industry, positioning us at the forefront of real estate innovation,” said Paul Hurst, chief innovation officer at First American and managing director at Parker89. “In addition to financial returns, our venture investments and relationships with early-stage companies and startups provide unique insights into how we can enhance the experience for our customers and all parties involved in real estate transactions today and in the future.”
The new brand, Parker89, pays homage to First American’s roots, which can be traced to the year 1889. Parker89 is a blend of 1889 and C.E. Parker, the name of the founder of the company that decades later would become First American Title Insurance Company, the largest subsidiary of First American Financial Corporation.
“The new brand reflects our connection to First American, while giving an identity to our role as one of the most active venture investors in proptech,” said Nate Levin, managing director at Parker89. “As a strategic investor hyper-focused on proptech, we bring deep real estate transaction expertise and a nationwide industry network to our investments. It’s important that our portfolio companies feel they have a market advantage through our investment, and that they view us as long-term, supportive partners.”
Parker89’s investment strategy will continue to focus on early-stage companies and entrepreneurs that are reimagining residential and commercial real estate, including tech-enabled brokerages and marketplaces, agent tools, lenders, mortgage software, and fractional homeownership. High-profile investments include Offerpad, an iBuyer that went public last year, Side, a tech brokerage, Roofstock, a company focused on the single-family investment marketplace, and Pacaso, the second home co-ownership business. Parker89’s investments have been largely in series A, B, and C stage companies, although it will back earlier- or later-stage businesses as well.
For more information about Parker89 and a list of its venture investments, visit www.Parker89.com.
About First American
First American Financial Corporation (NYSE: FAF) is a premier provider of title, settlement and risk solutions for real estate transactions. With its combination of financial strength and stability built over more than 130 years, innovative proprietary technologies, and unmatched data assets, the company is leading the digital transformation of its industry. First American also provides data products to the title industry and other third parties; valuation products and services; mortgage subservicing; home warranty products; banking, trust and wealth management services; and other related products and services. With total revenue of $9.2 billion in 2021, the company offers its products and services directly and through its agents throughout the United States and abroad. In 2022, First American was named one of the 100 Best Companies to Work For by Great Place to Work® and Fortune Magazine for the seventh consecutive year. More information about the company can be found at www.firstam.com.
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Contacts
Media Contact:
Marcus Ginnaty
Corporate Communications
First American Financial Corporation
(714) 250-3298
Investor Contact:
Craig Barberio
Investor Relations
First American Financial Corporation
(714) 250-5214