The amount of the deal was not disclosed.
The company plans to use the funds for acquisitions, product development and market share expansion.
Led by Scott Ogle, CEO, Sageworks delivers financial analysis, industry data, and risk management solutions to credit unions and accounting firms to improve financial decision processes. By automating the life of loans, more than 1,200 financial institutions can book commercial loans faster and reduce risk. Alongside the software, Sageworks provides education services (webinars and events) in the areas of credit and portfolio risk, including ALLL/CECL.