Sekits Capital, a Manhattan Beach, California-based investor in rapidly growing financial services, financial technology and digital consumer services businesses, has made a “significant investment” in InSellerate, a sales automation software company that empowers mortgage lenders to optimize lead opportunities by communicating with borrower prospects within seconds of starting the buying process.
Sekits Capital, founded by Mike Sekits in 1999, invests up to $1.5 million of growth capital in companies and provides board level advisory services. Prior to re-launching his own investment firm, Mike Sekits was co-founder and director of private investments at JAM Equity Partners, where he was responsible for investing in high-growth financial services companies.
Sekits Capital brought in seasoned mortgage technology executives to join in its investment into InSellerate, including Duke Olrich, formerly chief executive officer of DRI Management Systems, and Fred Melgaard, formerly executive vice president and chief operating officer of DRI. DRI Management Systems, a mortgage servicing workflow management technology company, was sold to ServiceLink, a subsidiary of Fidelity National, in 2012. Sekits, Olrich and Melgaard have previously worked together on a highly successful financial services opportunity.
“InSellerate is the most advanced and robust lead optimization and sales management solution we’ve seen in the mortgage industry, helping sales teams contact, manage and convert leads,” Sekits said. “What really impressed us about InSellerate was not just the functionality of the product, but the rigorous attention paid to compliance and security, which has resulted in several community banks adopting the software.”
“Surprisingly, less than a third of all mortgage leads are ever contacted due to inefficient systems,” said Olrich. “InSellerate provides mortgage lenders with the tools and technology to improve and accelerate the customer acquisition process and close more sales. InSellerate delivers higher lead conversion rates and lowers customer acquisition costs.”
“We are very excited and pleased to have this group of distinguished mortgage technology professionals invest in InSellerate and provide us with their expert advice as we move forward and expand,” said Josh Friend, founder and CEO of InSellerate. Friend was recently named to Mortgage Professional America’s “Hot 100 List” for developing companies for having “produced billions in loan originations and consistently beating national conversion rate averages by 30%.”
InSellerate helps companies optimize lead opportunities by communicating with prospects when they are actively engaged in the buying process. Its first-to-contact dialer technology empowers originators to respond to leads within 30 seconds of making a request. The simple-to-use yet sophisticated system delivers almost instant lead engagement, real-time sales and marketing resource management, and an effective prospect nurture program.
“As the percentage of consumers who research and purchase products and services online continues to increase at an accelerated pace, the keys to driving ROI will be efficiency and immediacy,” Friend said.
InSellerate consists of a three-stage system that includes inFlow, a sales force automation and lead management tool; inSight, a real-time sales reporting dashboard; and inTouch, an automated personalized email marketing platform. The system is fully integrated with leading online lead providers, inbound call systems and web forms.
What further distinguishes InSellerate from other lead generation software is that it connects the loan officer to the borrower and real estate agent in real time, gives loan officers up-to-the-minute status reports on the loan in process, alerts loan officers to proper disclosures and timing of disclosures to prevent compliance errors, and helps them turn current borrowers into long-term customers.
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 email@example.com.