Blue Sage Solutions Announces Investment from Goldman Sachs Growth Equity

ENGLEWOOD CLIFFS, N.J., Jan. 19, 2021 /PRNewswire/ -- Blue Sage Solutions, LLC, developers of the Blue Sage Digital Lending Platform, the mortgage industry's leading browser-based, end-to-end mortgage lending system, announced today that it has closed a financing round from Goldman Sachs Growth Equity, which focuses exclusively on investments in growth stage and technology-driven companies. The investment is Blue Sage's first external round of funding since the company was founded by Carmine Cacciavillani, President and Chief Executive Officer.

Blue Sage has been on a rapid growth trajectory, doubling revenues in 2020 from the previous year. The company's customers include independent mortgage bankers, credit unions, and leading banks. "We created the Digital Lending Platform to provide lenders the most modern and comprehensive solution in the market, allowing them to more efficiently close and fund thousands of loans while reducing compliance risk. We provide the only multi-channel platform in the marketplace with a combined point-of-sale and loan origination system. We developed it from the ground up in the last five years," said Cacciavillani.

"With Goldman Sachs as an investor, we continue to strengthen our balance sheet while gaining access to Goldman's incredible resources, industry relationships and expertise in helping companies like ours to accelerate growth and scale to meet the needs of our customers and prospects," said Cacciavillani.

Blue Sage will use the capital to continue investing in growth initiatives, including developing additional features that will further strengthen its Digital Lending Platform. "Goldman Sachs also brings a deep understanding of technology and operational expertise to assist in scaling our business," said Cacciavillani. "Goldman Sachs' expertise will contribute to executing our vision."

Antoine Munfa, managing director of Goldman Sachs Growth Equity, said, "We are very excited about our investment in Blue Sage Solutions. Blue Sage has a demonstrated track record of innovation and success. We have been extremely impressed by the team's depth of industry knowledge and the breadth of functionality and scalability of Blue Sage's Digital Lending Platform."

Ashwin Gupta, managing director of Goldman Sachs Growth Equity, added "Lenders are increasingly demanding modern software that is easy to use and which increases productivity. Blue Sage does that and more. The company is poised for accelerated growth while already having achieved significant profitability."

About Blue Sage Solutions
Blue Sage is an innovative, cloud-based digital lending platform for retail, wholesale and correspondent lenders that provides a superior lending experience for every borrower. The company's technology is 100 percent browser-based and provides end-to-end functionality for the entire lending and fulfillment process, regardless of channel. All Blue Sage solutions include mobile applications and are delivered through a secure, fully managed cloud service. Blue Sage Solutions is headquartered in Englewood Cliffs, New Jersey. For more information, visit www.bluesageusa.com.

About Goldman Sachs Growth Equity
Founded in 1869, The Goldman Sachs Group, Inc. is a leading global investment banking, securities, and investment management firm. Goldman Sachs Merchant Banking Division is the primary center for the firm's long-term principal investing activity. As part of MBD, Goldman Sachs Growth Equity is the dedicated growth equity team within Goldman Sachs, with over 25 years of investing history, over $8 billion of assets under management, and 9 offices globally.

Press Contact:
Mike Murray
Strategic Vantage Marketing & PR
(240) 498-0863
[email protected]    

SOURCE Blue Sage Solutions