Solidifi’s Parent Company, Real Matters, Completes $40 Million Common Equity Financing

This investment will allow Solidifi to further leverage its redihive™ technology and continue
its growth strategy

Buffalo, New York (December 16, 2013) – Solidifi’s parent company, Real Matters, one of North America’s fastest growing technology companies, today announced the closing of a $40 million common equity investment.  The financing will position Real Matters, a leading provider of information and insights into residential and commercial properties to both the mortgage and property & casualty (P&C) insurance industries, to further drive its growth including strategic acquisitions across North America.

Real Matters’ core solution, Solidifi, is a next-generation appraisal management services provider that serves 45 of the top 100 lenders in the U.S. Solidifi’s key differentiators are the company’s proprietary cloud-based network platform, redihive™, and partnerships with more than 26,000 independent appraisers. This state-of-the art analytical platform identifies the right appraiser for each assignment upfront, building efficiency and cost effectiveness into the appraisal process while ensuring the delivery of high-quality reports and superior performance for lender clients. As a result, Solidifi is now the third-largest independent provider of origination appraisals in the U.S.

 “Our technology-based marketplace has allowed us to transform the multi-billion dollar a year mortgage origination appraisal and P&C insurance assessment markets,” says Jason Smith, President and CEO of Real Matters. “In the last two years, we more than doubled our market share as we added new clients and grew share within our existing lending customers.  Our disciplined approach has ensured that growth has been profitable and that clients are well served.  To that end, our acquisition and integration of a traditional U.S.-based AMC in January 2013 enhanced outcomes for acquired customers which resulted in expanded growth with these lenders.”  

This new round of financing leaves the company well capitalized and concludes a successful year.  Real Matters was also recognized with several awards in 2013. Ranked a Deloitte Technology Fast 500 company, and was declared one of the top ICT and Software and Service Companies on the Branham300 listings.

BMO Capital Markets acted as sole-bookrunner and GMP Securities served as co-manager for the $40 million financing, which adds to the $22 million of common equity and debt facilities Real Matters secured in 2012.

About Solidifi: Solidifi is the third-largest independent provider of residential real estate appraisals. The company has built a strong reputation and partnership with more than 26,000 appraisers. Today, Solidifi is the appraisal service provider of choice for 45 of the top 100 lenders in the US.  Understanding the power of technology to boost productivity both internally and for clients, Solidifi’s team is made up of mortgage industry specialists and technology innovators. The company has invested more than $25MM in its leading SaaS-based platform supported by a dedicated technology team. Their capabilities have ranked them on Deloitte’s Technology Fast 500. Additional information about Solidifi is available at Solidifi is located in Buffalo, NY

For more information:
Jaime Lea Foss
Vice-President, Marketing & Communications