Weave raises $70 million of series D funding round
Weave, a Lehi-based customer communication company, announced Thursday it has closed a $70 million series D funding round led by new investor Tiger Global Management, with additional funding from current investors such as Catalyst, Bessemer, Crosslink, Pelion and LeadEdge.
According to the press release, Weave’s unique set of consolidated business tools could be used to support around 29 million small and medium businesses.. Weave is also one of the fastest-growing privately held companies in the US., doubling its revenue in 2018 and increasing its team at its Lehi headquarters to approximately 550 employees. The company is currently valued at $970 million.
“I’m extremely grateful to the thousands of customers who have helped Weave grow to where we are today. Our aim with this funding round is to exceed our customers’ expectations at every touchpoint, investing heavily in the products we create, the markets we serve and the overall customer experience we provide,” said Brandon Rodman, CEO at Weave. “I am insanely proud of the spectacular team we’ve attracted here at Weave and the amazing products we deliver. We will continue to invest in our customers, our products and our people to build a solid, sustainable, and scalable business.”
With this round of funding, according to a press release, Weave plans to expand and enhance its current product offering, develop its international presence, grow its team, and continue to invest in employee development. Learn more about Weave by visiting the company website.
SimpleNexus integrates platform with Reggora
Lehi-based mortgage technology firm SimpleNexus announced Wednesday it has partnered with Reggora, integrating its digital mortgage platform with Reggora’s automated appraisal technology to solve the most common cause of closing delays.
By integrating Reggora’s technology in the SimpleNexus mobile app, loan officers and real estate partners will be able to collaboratively manage appraisals on the go, according to a press release. This further enables loan officers and real estate partners to support borrowers through the entire homebuying process, the press release states.
“A core value at SimpleNexus is love for the customer; for that reason, we are committed to forging technology partnerships that deliver real ROI for our users,” said Ben Miller, SimpleNexus COO. “Our integration with Reggora saves LOs from having to toggle back and forth between multiple systems to manage appraisals, putting time back in their day to build relationships and facilitate a smooth closing experience.”
From the SimpleNexus app, loan officers can receive real-time appraisal status updates, share appraisal information with borrowers and real estate agents, and receive appraiser messages.
“Appraisal scheduling and management is a common source of delays to the closing process.” said Brian Zitin, Reggora CEO. “Reggora’s end-to-end appraisal platform streamlines the appraisal experience-from scheduling, to payment, to report delivery. Lenders benefit from faster turn-around times and shorter time to close.”
SimpleNexus is used by more than 20,000 loan officers and 220 mortgage companies, according to the press release. Learn more by visiting the SimpleNexus website.
ION Solar LLC donates solar system to Community Action
Provo-based ION Solar, a full-service solar provider, donated a 10 kilowatt solar system to Utah Community Action this month through its charitable arm, ION Earth, which seeks to foster meaningful change in communities by empowering families, organizations and individuals with a clean energy alternative.
Utah Community Action provides comprehensive services to income-eligible families. The solar system is being installed on a UCA Head Start Preschool located in Tooele County. UCA was one of the first administrators of the Head Start program in the state of Utah, a nationally-recognized education program.
Costs saved from the donated solar system will be used to contribute services back to the community, the press release states.
“I’ve always lived here. Our local farmers have been doing solar and it’s great that we can now also be a part of this environmental shift,” said Mary Salazar, Tooele County resident and program coordinator of UCA.
Learn more about ION Solar and the company’s charitable arm, ION Earth, by visiting the company website.