Polly, a trailblazer in mortgage capital markets technology, has successfully raised $25m in a growth equity funding round.
This investment was spearheaded by 8VC, with continued backing from seasoned investors like Menlo Ventures, Meritech, Khosla Ventures, and Fifth Wall.
Specialising in next-generation mortgage solutions, Polly operates the industry’s first cloud-native product and pricing engine (PPE). This funding will enable the San Francisco-based firm to propel its rapid growth trajectory and deepen its research and development efforts, enhancing its innovative product offerings.
Since its inception in 2019, Polly has disrupted the traditional mortgage pricing landscape with its agile, cloud-built platform. It’s known for its ability to swiftly adapt to market changes and its configurability, which significantly boosts operational efficiency and client satisfaction by automating workflows and optimizing margins.
The fresh capital injection will be channelled into scaling Polly’s customer support and implementation services further. The company also plans to invest heavily in its product and engineering divisions, focusing on advancing its proprietary AI technologies and developing new generative AI capabilities. Polly anticipates expanding its internal teams by at least 25% soon to support its continued expansion.
Alex Kolicich, Founding Partner at 8VC, said, “”8VC recognized early on that Adam and his team had developed a superior and next-generation pricing engine, a platform that was going to truly transform the mortgage capital markets space.
“Polly’s success has far exceeded our expectations, and that is due in large part to their teams’ vision, ambition, and strong execution. Nowhere else will you find a team more committed to pushing the boundaries of mortgage tech innovation and to disrupting the status quo. But more importantly, this is a team that truly cares about its customers and will always put them first. We are proud to continue to help fuel Polly’s success, and we’re excited for what the future holds.”
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