Baltimore-based eOriginal, a provider of digital transaction management solutions, has raised $26.5 million in funding. LLR Partners led the round. In conjunction with the funding, David Reuter, a partner at LLR Partners, has been added to eOriginal’s board of directors.
BALTIMORE – NOVEMBER 15, 2016 – eOriginal, Inc., the trusted expert in digital transaction management, today announced that it has secured a $26.5 million investment, led by private equity firm LLR Partners.
eOriginal’s eAsset® Management Platform enables customers to manage the entire lifecycle of a digital transaction in a fully electronic environment. The Company’s leadership in a number of end markets, including marketplace lending, vehicle and equipment finance and banking, positions eOriginal for continued growth. The capital will be used to accelerate hiring, enhance product development and infrastructure to enable eOriginal to extend its digital transaction management leadership position into additional end markets such as digital mortgage.
“The lending and financing process is undergoing a digital evolution, with eOriginal as the trailblazer enabling advanced, secure digital transaction management. With a market-established, best-in-breed product offering and strong leadership, the company is poised for accelerated growth,” stated David Reuter, partner at LLR Partners, who will join eOriginal’s board of directors. “We are excited to join forces with eOriginal as they drive increased confidence and efficiency throughout the entire lending process.”
“Finding the right partner was a key element to the future and growth of eOriginal,” stated Gary Wood, PhD, executive chairman of eOriginal. “In addition to capital, LLR is known for contributing the intellect and experience of their team to help grow great businesses.”
By 2023, Citi estimates that 17 percent of all North American loan originations will be enabled via new digital models, a dramatic increase from the approximate one percent today. eOriginal is well positioned to help lead this market shift by facilitating industry best practices, increasing transparency, ensuring authenticity of electronic documents and enabling secondary market transactions. The Company’s SaaS-based platform increases efficiency throughout the entire loan lifecycle for multiple constituencies including lenders, investors, auditors, attorneys, document custodians and regulators.
“Growing acceptance and demand for digital transaction management and post-signature asset management is driving accelerated growth among traditional and alternative lenders,” said Stephen Bisbee, president and CEO of eOriginal. “The world is migrating to fully digital processes and eOriginal has proven itself to many enterprises, small and large, as a trusted partner and platform. LLR Partners’ FinTech experience will help scale our products to meet industry demands and support the fully digital ecosystems of the future.”
About eOriginal, Inc.
Founded in 1996, eOriginal is the trusted expert in digital transaction management solutions, specializing in the post-execution management of financial asset documentation. eOriginal SmartSign® and eAsset® Management Services enable an end-to-end solution for fully electronic transactions that must be managed with the highest levels of security and compliance throughout their lifecycle. By treating every transaction as having assets that must be verifiably secure, legally compliant and enforceable, eOriginal provides its customers and partners with eCertainty®. For more information, please visit http://www.eoriginal.com. eOriginal®, eAsset®, eOriginal SmartSign® and eCertainty® are trademarks of eOriginal, Inc. and are registered in the United States or in other jurisdictions.
About LLR Partners
LLR Partners is a private equity firm investing in middle market growth companies. LLR invests in a broad range of industries, with an emphasis on software, technology-enabled services and healthcare. Founded in 1999 and with more than $2 billion raised across four funds, LLR is a flexible provider of capital for growth, recapitalizations and buyouts. For more information about LLR, visit llrpartners.com.