Mercury Network today announced that Will Clemens, formerly Executive Chairman, has been appointed Chief Executive Officer (CEO). More than 700 mortgage lenders and appraisal management companies (AMCs) use Mercury Network’s cloud-based software to compliantly manage appraisal operations.
The company, acquired by Serent Capital in early 2015, has driven more than 30% revenue growth over the past 12 months. Compliance requirements and the necessity of reducing costs has created intense demand for Mercury’s platform, and many large lenders and AMCs need immediate custom implementations.
“Will’s contributions will give us the ability to scale operations during this growth trajectory, while I pinpoint my focus on continuing to develop the software tools our customers need”, said Jennifer Miller, president of Mercury Network. “We are excited to add Will to our executive team”.
Clemens’ experience as Mercury’s Executive Chairman and board member combined with his strong track record in enterprise software, financial technology and investment operations positions the company to accelerate an already impressive growth rate. “With Jennifer Miller’s leadership, Mercury Network has been successful because of the team’s commitment to delivering the vendor management software tools and the service levels that lenders, AMCs and appraisers need. I’m excited to join this management team to serve our clients.”
Mercury’s primary investor, Serent Capital, has a long history of experience with Clemens from his roles with other portfolio companies. “Serent has the utmost confidence in Mercury’s leadership team and Clemens will be a valuable addition to help Mercury achieve their growth objectives”, stated Lance Fenton, Partner at Serent.
About The Author
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at firstname.lastname@example.org.