M&A  October 29, 2021

Seattle firm acquires Boulder SaaS company Floify

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BOULDER — Floify LLC, a Boulder-based software as a service company serving the mortgage industry, has been acquired by home services software firm Porch Group Inc. (Nasdaq: PRCH), based in Seattle, for $76.5 million in cash and $10 million in stock.

“Floify has an impressive presence and unique position in the mortgage origination software business,” Porch CEO Matt Ehrlichman said in a prepared statement. “There are very few companies providing software to loan officers to help improve the borrower experience, and we are excited for Porch to now be one of the major players in this vertical.”

Floify makes digital mortgage automation and point-of-sale software for loan officers. 

According to Porch, the company is expected to generate $15 million in new revenue for its parent firm in 2022. 

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Manatt, Phelps & Phillips LLP served as legal adviser to Porch and Sheppard, Mullin, Richter & Hampton LLP represented Floify in the deal. AGC Partners served as financial adviser to Floify.

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BOULDER — Floify LLC, a Boulder-based software as a service company serving the mortgage industry, has been acquired by home services software firm Porch Group Inc. (Nasdaq: PRCH), based in Seattle, for $76.5 million in cash and $10 million in stock.

“Floify has an impressive presence and unique position in the mortgage origination software business,” Porch CEO Matt Ehrlichman said in a prepared statement. “There are very few companies providing software to loan officers to help improve the borrower experience, and we are excited for Porch to now be one of the major players in this vertical.”

Floify makes digital mortgage automation…

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A Maryland native, Lucas has worked at news agencies from Wyoming to South Carolina before putting roots down in Colorado.
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