SmartZip Analytics, Inc. announced that it has secured $12 million in new financing to fuel the company’s continued growth and diversification. Initial proceeds will be used to support the roll-out and adoption of SmartZip’s latest real estate product offering, SphereTargeting, and to expand into the mortgage vertical through the SmartTargeting for Lenders edition of its platform.
ORIX Growth Capital (ORIX) led the debt financing round with participation from existing investors. “There is perhaps no greater need for actionable predictive analytics than in the real estate and lending industries, where high-touch relationships and long transaction cycles require focusing on the right people at the right time,” said Joel Gragg, Director at ORIX. “SmartZip has established a market leader position with its unique solution for these industries. And we are pleased to provide capital financing to help drive further innovation and market adoption.”
SmartZip’s funding comes on the heels of several prominent awards over the last couple of months. For the third consecutive year, the company ranked in the coveted Inc. 5000 list of the nation’s fastest-growing private companies as well as in the San Francisco Business Times’ Fast 100 fastest-growing private companies in the Silicon Valley. It was also selected again for the prestigious Red Herring Top 100.
“Our latest financing is proof positive of our success to date and the huge potential our platform has across a multitude of very large industries,” says SmartZip president and CEO Avi Gupta. “ORIX has a proven track record of helping accelerate the growth of formidable SaaS-based companies, and we are fortunate to have the benefit of their industry and financial expertise alongside our current investors who have been pivotal in helping us get this far.”
SmartZip has made significant advances to its predictive marketing platform in recent months. The recently released SphereTargeting solution is designed to help real estate and mortgage companies generate repeat business from their past customers and contacts by honing in on those most likely to sell, and automatically cultivating them with targeted multi-channel advertising. A new mobile CRM technology called CheckIn helps customers manage leads and prospects on the go with rich data and insights at their fingertips. And the latest introduction of SmartTargeting for Lenders provides predicted “Pre-Mover Scores” for every contact in a lender’s own database or in any market across the United States. By engaging top-scoring homeowner targets using SmartTargeting’s automated marketing platform, lenders can proactively get in front of future movers to retain existing customers or acquire new purchase loans.
“Predictive analytics is slowly becoming mainstream in the real estate and lending industries, and we are proud to be at the forefront of this technology that is making customer acquisition smart, automated and efficient,” noted Gupta. “This funding comes at an opportune time as we look to capitalize on our traction to further accelerate product development and market penetration.”