Ellie Mae has completed its $128 million acquisition of the sales acceleration platform Velocity, the company announced.
“The acquisition of Velocify accelerates our delivery of a true digital mortgage solution for the industry,” Ellie Mae President and CEO Jonathan Corr said in a release. “In the coming months, we will integrate Velocify’s lead management, engagement and distribution capabilities with our own CRM and Consumer Connect solutions to help lenders turn consumer interest into applications through a personalized, high-tech and human-touch experience.”
“Velocify and Ellie Mae are longtime partners in the mortgage space thanks to our integration with their Encompass solution. We’re both fueled by the mission to simplify and speed up the mortgage process to help lenders originate more loans, lower costs and reduce time to close,” Velocify former President and CEO Nick Hedges said.
Hedges, who will assume the role of senior vice president at Ellie Mae, added: “Velocify has built the leading software solution for consumer sales engagement during the early stages of the sales process and with this acquisition, we will extend that capability throughout the consumer buying cycle.”