Boathouse Capital Completes Growth Capital Investment in Sageworks
January 17, 2018
Boathouse Capital is pleased to announce it has completed an investment in Sageworks, a financial information company that provides lending, credit risk and portfolio risk solutions to banks and credit unions. The company plans to use the funds for acquisitions, product development and market share expansion.
Based in Raleigh, NC, Sageworks delivers financial analysis solutions to banks, credit unions and accounting firms, ultimately making financial decisions easier and helping more businesses to succeed. By automating the life of loans using Sageworks, financial institutions book commercial loans faster and reduce risk. Sageworks uniquely provides integrated solutions and industry expertise to more than 1,200 financial institutions that achieve an average 38% higher loan growth than peers. Alongside the innovative software that Sageworks provides, the company has also positioned itself as a thought-leader and educator in the areas of credit and portfolio risk, including ALLL/CECL, educating more than 6,500 bankers over the last 12 months through webinars and events.
Since its founding twenty years ago, Sageworks has prided itself on providing innovative software solutions, world class customer service, and a laser sharp focus on client support. As the financial services industry is increasingly pushed toward automation, the company differentiates itself from its competition by providing customer-centric product development and onboarding, which streamlines implementation for Sageworks’ clients and drives down costs.
“This is an exciting time for our company, and for the financial technology industry” remarked Scott Ogle, Sageworks CEO. “There is major disruption and growth happening across the market, and legacy processes are quickly becoming antiquated, which is where Sageworks comes in. This funding will enable us to accelerate our acquisition strategy, expand our market penetration and continue providing unsurpassed service to our clients. We are looking forward to this next stage of our growth.”
“The team at Sageworks has done a great job staying at the cutting edge of a quickly evolving industry, and has proved itself more than capable of identifying and pursuing opportunities for growth,” said Bill Dyer, Partner of Boathouse Capital. “The company is well-positioned for expansion in the future and we look forward to partnering with the management team at Sageworks in their efforts to continue delivering the best in software and support.”