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Funding for real estate challenger Spruce shows New York’s startup scene is thriving

The startup's founders, who come out of Betterment, are on a mission to reform title insurance to make it easier, faster, and cheaper to close on a mortgage.

When you have startups begetting more startups, it’s a strong indicator of the health of a particular ecosystem. The same can be said for the involvement of core group of Betterment employees that invested in Spruce’s Series A. Betterment chief executive Jon Stein, vice president of communications and policy Joe Ziemer, vice president of operations Boris Khentov and Mike Reust, the VP of engineering, all invested in their former co-workers’ new venture.