Recapitalization to drive next phase of growth and product expansion
SaaS company Mortgage Automator has partnered with private equity firm BVP Forge in a major recapitalization deal aimed at accelerating its growth.
This collaboration is expected to enhance Mortgage Automator’s services and expand its reach across the private and asset-based lending industry, the company said in its media release.
“Utilizing Mortgage Automator provides private lenders a significant operational advantage. Our partnership with Forge will further enhance this, benefiting our community of customers immensely,” CEO Pavel Tchourliaev and Joseph Fooks, chief strategy officer, said in a joint statement. "Additionally, we're excited about leveraging Forge’s resources to expand our range of products and services.”
Tom Obermaier, operating partner at BVP Forge, confirmed that the resources that will now be available to Mortgage Automator.
“Mortgage Automator will gain access to ForgeEdge, Forge’s operating resource program, and the growth IP, workshops, and programming of the storied Bessemer Venture Partners platform,” Obermaier said. We’re thrilled to partner with the company to extend its market-leading SaaS platform across the full private lending value chain and ecosystem.”
Mortgage Automator supports over 375 customers in countries including the United States, Canada, Australia, and New Zealand, managing more than $20 billion in transactions through its platform in 2023 alone. Designed by industry veterans, the platform offers an interface that simplifies complex processes like CRM, origination, execution, servicing, and reporting.
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BVP Forge, which facilitated this recapitalization, operates as a private equity and venture capital firm. It is focused on investing in software-enabled businesses poised for growth, leveraging the extensive capabilities and global reach of Bessemer Venture Partners.
“There are few companies out there with as high a degree of customer satisfaction as Mortgage Automator enjoys,” said Rob Arditi, partner at BVP Forge. “It’s no surprise that this has translated into remarkable company growth rates and sustained profitability. Customers run their businesses on Mortgage Automator and love the seamless user experience. We’re fortunate that Mortgage Automator selected Forge as its partner.”
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