Candor Technology, an Alpharetta, Georgia-based provider of automated underwriting technology for the mortgage industry, closed a Series B equity funding.
SaaS Investors
The round was led by Rice Park Capital Management, with participation from Arthur Ventures, Assurant Ventures, and other industry leaders.
Rice Park Capital Management LP is a private investment firm managing funds and investment vehicles on behalf of institutional investors, family offices, and high-net-worth individuals. Its investment focus is to deliver cycle-resistant returns to its limited partners by unlocking value in complex opportunities in the residential and commercial mortgage and real estate sectors.
Candor Technology Use of Funds
The company will use the funding to expand the capabilities of Candor's Loan Engineering System, enhancing user experience and improving loan quality.
About Candor Technology
Founded in 2018, Candor Technology, Inc. is a provider of software solutions for the mortgage industry. Its primary offerings include an origination solution (PreQualTM), a fulfillment solution (the Loan Engineering System), and an end-to-end machine/human “hybrid” solution (CandorPLUSTM). After more than 3 years, Candor has assisted lenders with more than 2.5 million underwrites.
Funding Details
Company: Candor Technology, Inc.
Raised: Undisclosed
Round: Series B
Funding Month: February 2024
Lead Investors: Rice Park Capital Management
Additional Investors: Arthur Ventures, Assurant Ventures
Company Website: https://candortechnology.com/
Software Category: AI Mortgage Underwriting Solutions
Source: https://www.businesswire.com/news/home/20240205167344/en