First American unveils new brand for proptech VC

OC-based title insurer introduces Parker89 to focus on early stage outfits

Parker 89's managing directors Nate Levin and Paul Hurst (Parker89, iStock)
Parker 89's managing directors Nate Levin and Paul Hurst (Parker89, iStock)

Proptech is hot, drawing a record $4 billion in investments during the first quarter of this year.

First American Financial Corp. is adding to the trend, branding its venture capital division as Parker89 in a bid to raise its profile in the proptech sector.

Parker89 will focus on early stage companies and entrepreneurs focused on residential and commercial real estate ventures such as tech-enabled brokerages and marketplaces, agent tools and mortgage tools, according to a First American announcement.

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Named after the First American founder C.E. Parker, and 1889, the year he founded the company. The name has current resonance, too, with Parker Kennedy, a great grandson of the founder, is a former chairman and current chairman emeritus of the company, with a seat on its board of directors.

Parker89 is led by co-managing director Paul Hurst, who also serves as First American’s chief innovation officer. Nate Levin also is a co-managing director. The managing directors met each other at Endpoint, a mobile-first title and escrow company. Tucker Ryals will serve Parker89 as the vice president of strategic relationships.

Since 2019, First American has invested more than $350 million into proptech companies such as Offerpad, a digital real estate marketplace that went public last year. It’s also invested in Side, a tech brokerage, and Roofstock, a company focused on single family investment marketplace.

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