Software developer Originate has received an undisclosed investment from Pacific Growth Investors.
The company designs, builds, and develops software technology for businesses across a range of sectors such as financial services and media. Through partnerships with clients the company is able to create new products and redesign legacy systems to help growth acceleration.
Over the past year, Originate recorded a 50 per cent revenue growth. Some of the company’s partners include BlackRock, RMS, Dow Jones, SeedInvest, Rise, Replay.io and DevaCurl, among others.
These funds will be used for working capital and to support international expansion. The company currently operates offices in the US and in Europe.
Originate CEO Brent Cohen said, “Originate works with some of the world’s most sophisticated companies to leverage the power of modern technologies and navigate the increasingly complex digital and business ecosystem. This investment, coupled with our exceptional talent, will allow us to scale our expertise and ultimately help our partners build and maintain their competitive advantage.”
Pacific Growth Investors looks to invest in companies that have reached $20m of revenue and have a positive EBITDA, or are on route to one. The California-based firm backs companies that are building solutions to offer financial, operational, and strategic assistance.
Last year, the North American banking and enterprise software sector saw a sharp rise in funding during the second quarter. Alone, the quarter received nearly double the capital that was invested in Q1 and Q3, combined.
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