Polly, a leading provider of mortgage capital markets technology and operator of the industry’s first cloud-native, commercially scalable product and pricing engine (PPE), announced $25 million in new growth equity capital.
Headed by 8VC and with participation from other existing investors, including Menlo Ventures, Meritech, Khosla Ventures, and Fifth Wall, this funding will further accelerate Polly’s growth and enable an even deeper investment in R&D, product innovation, and expansion.
This funding round follows Polly’s continued momentum and market leadership. Year-to-date, Polly has increased lock volume by well over 150% and more than doubled its customer partner base, including many of the country’s top and most notable banks, credit unions, and mortgage lenders.
Since the company was founded in 2019, Polly has represented a significant paradigm shift from the monolithic pricing solutions that once dominated the industry. Polly’s agile platform responds swiftly to emerging trends and market fluctuations. And the platform’s flexibility and functional depth, combined with an unrivaled pace of innovation, continues to deliver strong value and ROI by increasing margins, automating workflows, and driving a sophisticated loan officer experience.
Polly has also invested significant resources into scaling its implementation, customer success, and white-glove support programs. The additional funding will continue to scale these important functions and enable Polly’s product and engineering teams to double down on new product innovation, including further evolution of the Polly/ AI platform and new generative AI capabilities. Plus, the company expects to scale internal teams by at least 25% in short order to support continued growth.
Polly’s growth validates industry demand for an agile and vertically integrated capital markets platform that enables its users to effectively meet the demands of an industry prone to unpredictable ebbs and flows, without the need to constantly monitor and adjust staffing levels based on market conditions.
KEY QUOTES:
“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.”
-Alex Kolicich, Founding Partner at 8VC
“Everything we do is designed purposely to drive maximum value, ROI, and success for our customer partners. Pivotal to that objective is Polly continuing to lead the industry in terms of innovation and state-of-the-art technology. This additional capital will enable our team to continue to pioneer unrivaled product innovation for our customer partners, invest significantly more into our AI platform and capabilities, and deliver world-class implementation and service. We deeply value partnership with our customers, and this is our way of doubling down on our commitment to them. To that end, we have a lot in store for 2025.”
-Adam Carmel, Founder and CEO of Polly
