Ellie Mae has signed an agreement to acquire Velocify, a company that provides sales lead management technology and tools, in order to help facilitate its vision for a “fully digital mortgage.”
With the acquisition, Ellie Mae will combine Velocify’s lead management, engagement and distribution capabilities with the Encompass CRM’s personalized marketing tools and the Encompass Consumer Connect platform. The combined offering will deliver a complete digital lead capture and conversion solution for creating interest, turning that interest into an application and then funding that loan quickly and at a low cost.
Velocify’s lead management solutions help sales teams keep pace with the speed of opportunity by driving rapid lead response, improving productivity and offering actionable selling insights. The company helps sales teams sell more by streamlining and optimizing the sales process from start to finish by enabling teams to accelerate lead engagement, and implement effective workflows, ultimately helping lenders find and convert more leads faster.
“The combination of Velocify’s solution with our Encompass CRM and Encompass Consumer Connect solutions will accelerate our delivery of the most robust digital mortgage solution in the market,” says Jonathan Corr, president and CEO of Ellie Mae. “The acquisition will enable us to provide the first combined solution that helps lenders turn consumer interest into applications by offering a personalized, high-tech and human-touch experience.”
Under the terms of the agreement, Ellie Mae will acquire Velocify for $128 million in cash. The transaction is expected to close in the fourth quarter of 2017.