Ellie Mae completes acquisition of Velocify

by Ryan Smith03 Oct 2017
Ellie Mae has completed its acquisition of sales-acceleration platform Velocify, the company has announced.

Ellie Mae announced its intent to acquire the platform last month. In that announcement, Ellie Mae said it would be purchasing Velocify for $128 million in cash.

Ellie Mae, the leading cloud-based platform for the mortgage finance industry, will integrate Velocify’s lead-management, engagement and distribution capabilities with its own Encompass CRM. According to Ellie Mae, the integration will create a complete digital lead capture-and-conversion tool “for creating interest, turning that interest into an application and then funding that loan quickly and at a low cost.”

“Ellie Mae’s North Star is to automate everything automatable for the residential mortgage industry, and we believe that a true digital mortgage must encompass the entire loan cycle, from targeted marketing automation to lead generation to application to automated investor delivery,” said Jonathan Corr, president and CEO of Ellie Mae. “The acquisition of Velocify accelerates our delivery of a true digital mortgage solution for the industry.”

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