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When mortgage originations bounce back to healthier levels, lenders who equip their loan officers with a customer relationship management (CRM) solution that’s tailor-made for mortgages, with integrated sales and marketing automation will have a leg up on the competition.
That’s the investment thesis of PeakSpan Capital, which is leading a $19 million Series A funding round announced Tuesday by Boulder, Colorado-based Aidium Mortgage CRM.
In spelling out its thinking for leading Aidium’s latest funding round, PeakSpan noted that mortgage loan officers “often operate as quasi-independent divisions inside of broader organizations,” changing firms often and relying on their own Rolodexes and customer engagement standard operating procedures (SOPs).
“Amidst this backdrop, the need for a tailor-made and powerful CRM system is evident,” according to PeakSpan.
Founded in 2019 as Daily AI, Aidium rebranded in March 2023 to better align two brands it had acquired — Whiteboard CRM and Recruitable.ai — under a single umbrella, the company said at the time.
Aidium said it will use the Series A funding to “further enhance its platform, expand its customer base, and strengthen its position as a leader in the mortgage technology space.”
“We are beyond excited to be partnered with PeakSpan Capital as we accelerate our growth and expand our reach in the mortgage industry,” Aidium CEO Spencer Dusebout said in a statement. “This investment validates our commitment to innovation and our vision of revolutionizing the way mortgage professionals interact with borrowers.”
PeakSpan Vice President Kyle Reitinger, who also serves on Aidium’s board of directors, said the company has been able to “meaningfully scale revenue” and roll out new data products despite what has been a challenging environment for lenders in 2022 and 2023.
“We see such tremendous opportunity for further innovation in the category and are energized to support the team in 2024 and beyond,” Reitinger said in a statement.
In February, Jungo, which claims to be the first mortgage CRM solution built on top of Salesforce, announced integration with Homebot.
Last year Big Purple Dot launched a recruiting tool tailored to mortgage lenders, BPD Recruit, which sifts through CoreLogic data to help lenders identify who their competitors’ most productive loan officers are and automate the process of recruiting them.
Aidium did not immediately respond to a request for comment on the total raised by Aidium to date, or whether the Series A funding included debt and equity components.
In a Feb. 29 regulatory filing, Aidium disclosed that it had sold $7 million in equity and options as part of a $7.25 million offering. Last year Aidium amended a previous offering, updating the total amount sold to $9.125 million.
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