Tech firm Real Matters gains financing
Closes a $40M common equity investment
Tech firm Real Matters, the parent firm overseeing appraisal management services provider Solidifi, closed on $40 million of common equity investment, giving it the financial momentum to continue making strategic purchases across North America.
Buffalo-based Real Matters offers information on residential and commercial properties for mortgage and property and casualty insurance industries.
Solidifi serves 45 of the top lenders in the U.S. using its cloud-based network, redihive, while partnering with more than 26,000 independent appraisers.
The technology finds the right appraiser for each assignment that comes through.
"Our technology-based marketplace has allowed us to transform the multi-billion dollar a year mortgage origination appraisal and P&C insurance assessment markets," said Jason Smith, president and CEO of Real Matters.
"In the last two years, we more than doubled our market share as we added new clients and grew share within our existing lending customers. Our disciplined approach has ensured that growth has been profitable and that clients are well served."
The company says the new round of financing leaves the firm well capitalized for the new year.