Brace, a Los Angeles, CA-based digital mortgage-servicing platform, raised an additional $10M in Series A funding.
The round, which brought total funding to $15M, was led by Point72 Ventures, with participation from Crosslink Capital.
The company intends to use the funds to expand its platform while growing its client base.
Led by Eric Rachmel, CEO, Brace has developed a modular, digital platform for mortgage servicing which improves communication and transparency among homeowners, servicers and investors. The platform automates workflows to ease decisioning among these core constituencies.
The company has partnered with prominent mortgage investors as well as leading servicers. The Palisades Group, a $13 billion asset management firm, has supported Brace in streamlining processes at its sub-servicers. Additionally, the company completed Flagstar Bank’s first-ever mortgage technology accelerator earlier this year and continues to work closely with the bank.