eOriginal pulls in $26.5m for digital transaction tools

Digital transaction management company eOriginal has landed $26.5m in a new round of funding led by private equity firm LLR Partners.

The Baltimore-based software-as-a-service firm offers digital transaction technology tools for businesses such as electronic signatures, an asset management platform and compliance solutions.

eOriginal operates across a number of financial sectors including marketplace lending, vehicle and equipment financing, and banking.

The funding will be used to accelerate hiring, enhance product development and infrastructure as well as expand into new markets such as online mortgages.

eOriginal was founded in 1996 and say it aims to double its employee count from 72 next year.

The round brings the total raised by eOriginal to more than $35m with it previously taking on $2.35m and $6.5m rounds in 2010 and 1999, respectively.

It’s existing backers include GE Capital and Intel.

eOriginal executive chairman Gary Wood, PhD highlights finding the right partners in LLR as a key element of the deal.

He said, “in addition to capital, LLR is known for contributing the intellect and experience of their team to help grow great businesses.”

eOriginal president and CEO Stephen Bisbee added, “LLR Partners’ fintech experience will help scale our products to meet industry demands and support the fully digital ecosystems of the future.”

LLR Partners’ David Reuter will join the company’s board as a result of the deal.

Copyright © 2016 FINTECH GLOBAL

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