Blue Sage Solutions, LLC, developers of the Blue Sage Digital Lending Platform, a browser-based, end-to-end mortgage lending system, announced that it has closed a financing round from Goldman Sachs Growth Equity, which focuses exclusively on investments in growth-stage and technology-driven companies. The investment is Blue Sage’s first external round of funding since the company was founded by Carmine Cacciavillani, President and CEO.
Blue Sage has been on a rapid growth trajectory, doubling revenues in 2020 from the previous year. The company’s customers include independent mortgage bankers, credit unions, and leading banks. “We created the Digital Lending Platform to provide lenders the most modern and comprehensive solution in the market, allowing them to more efficiently close and fund thousands of loans while reducing compliance risk. We provide the only multi-channel platform in the marketplace with a combined point-of-sale and loan origination system. We developed it from the ground up in the last five years,” Cacciavillani said.
“With Goldman Sachs as an investor, we continue to strengthen our balance sheet while gaining access to Goldman’s incredible resources, industry relationships, and expertise in helping companies like ours to accelerate growth and scale to meet the needs of our customers and prospects,” Cacciavillani said.
Blue Sage will use the capital to continue investing in growth initiatives, including developing additional features that will further strengthen its Digital Lending Platform. “Goldman Sachs also brings a deep understanding of technology and operational expertise to assist in scaling our business,” Cacciavillani said. “Goldman Sachs’ expertise will contribute to executing our vision.”
Antoine Munfa, Managing Director of Goldman Sachs Growth Equity, said, “We are very excited about our investment in Blue Sage Solutions. Blue Sage has a demonstrated track record of innovation and success. We have been extremely impressed by the team’s depth of industry knowledge and the breadth of functionality and scalability of Blue Sage’s Digital Lending Platform.”
Ashwin Gupta, Managing Director of Goldman Sachs Growth Equity, added, “Lenders are increasingly demanding modern software that is easy to use and which increases productivity. Blue Sage does that and more. The company is poised for accelerated growth while already having achieved significant profitability.”