In the news release, Technology Company Real Matters Raises US$60 Million to Drive Growth, issued 04-May-2015 by Real Matters over PR Newswire, we are advised by the company that the headline and first paragraph should read "$60 Million" rather than "US$60 Million" as originally issued inadvertently. The complete, corrected release follows:
Technology Company Real Matters Raises $60 Million to Drive Growth
TORONTO, May 4, 2015 /PRNewswire/ -- Real Matters, one of North America's fastest growing technology companies, announced today that it has secured an additional $60 million in capital to continue to drive its dynamic growth.
This financing allows the private company to expand its reach through strategic acquisitions. It also builds on significant organic momentum, as Real Matters is growing rapidly and profitably. Year to date revenue is up 65%, with positive cash flow and earnings.
Real Matters has leveraged its cloud-based technology platform to become a leading provider of property information and insights to the real estate lending & insurances markets. This game-changing analytical platform is the key enabler for Solidifi, the company's next-generation appraisal management solution. The company has grown to be one of the largest providers of real estate appraisals serving the residential mortgage origination market in North America. Recently, Solidifi secured a number of the top 5 lenders in the United States and will be launching them over the coming months.
"This new round of financing was supported by our existing investor syndicate. Combined with our existing cash resources, the company continues to be well capitalized going forward. We are optimally positioned to enter adjacent markets that can be disrupted with our technology solutions. To that end, today we announced the acquisition of Cincinnati, Ohio based Southwest Financial Services Ltd.," says Jason Smith, President and CEO of Real Matters. Southwest Financial Services is a leading home-equity service provider in the United States processing more than 5,000 transactions a day through its title, valuation and flood determination services. "Southwest Financial Services allows us to add new mortgage lenders that can take advantage of our next generation appraisal services, and to offer and enhance Southwest Financial Services solutions for our customers. It's an exciting time for Real Matters as we continue to drive innovation in the lending industry," added Smith.
Today's announcements build on the success and recognition Real Matters achieved in 2014. The company was named one of Canada's Best Managed Companies Gold Standard, ranked a Deloitte Technology Fast 50 and Fast 500 company, and was honoured as one of the top Canadian ICT and Software as a Service Companies on the Branham300 listings.
BMO Capital Markets and Infor Financial Group advised the company on the financing.
About Real Matters: Serving the North American mortgage industry through its Solidifi and Southwest Financial Services offerings, and the property and casualty (P&C) insurance industry through its iv3 business, Real Matters creates powerful insights into residential and commercial properties. Leveraging its cloud-based technology platform, redihive™, the organization provides its customers with subject matter expertise gathered through partnerships with more than 28,000 field agents, comprised of Solidifi independent appraisers as well as iv3 insurance inspectors. Established in 2004, Real Matters has its Canadian head office in Markham, Ontario and U.S. head office in Buffalo, NY. Additional information about Real Matters is available at www.realmatters.com.
SOURCE Real Matters
For further information: Jaime Lea Foss, Vice-President, Marketing & Communications, Real Matters, 905-695-3969, email@example.com, http://www.realmatters.com