Pollya pioneer in mortgage capital markets technology, successfully raised $25 million in a growth capital funding round.
This investment was led by 8VC, with continued support from seasoned investors including Menlo Ventures, Meritech, Khosla Ventures and Fifth Wall.
Polly, a leading provider of next-generation mortgage solutions, operates the industry’s first cloud-native Pricing and Product Engine (PPE). The funding will enable the San Francisco-based company to accelerate its rapid growth trajectory and deepen its research and development efforts, enhancing its innovative product offering.
Since its inception in 2019, Polly has revolutionized the traditional mortgage pricing landscape with its agile, cloud-based platform. It is known for its ability to quickly adapt to market changes and its configurability, which significantly improves operational efficiency and customer satisfaction by automating workflows and optimizing margins.
The injection of fresh capital will be used to expand Polly’s customer support and implementation services. The company also plans to invest heavily in its product and engineering divisions, focusing on advancing its proprietary AI technologies and developing new generative AI capabilities. Polly plans to expand its internal teams by at least 25% in the near future to support its continued expansion.
Alex Kolicich, Founding Partner of 8VC, said: “8VC recognized early on that Adam and his team had developed a superior, next-generation pricing engine, a platform that would truly transform the mortgage capital markets space.
“Polly’s success has far exceeded our expectations, and that is due in large part to the vision, ambition and strong execution of its teams. Nowhere else will you find a team more committed to pushing the boundaries of mortgage technology innovation and disrupting the status quo. But more importantly, it’s a team that truly cares about its customers and will always put them first. We are proud to continue to contribute to Polly’s success and look forward to what the future holds.”
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