MountainSeed, a provider of appraisal management, valuation technology and capital markets solutions to community banks and credit unions, completed a $38 million minority investment from Long Ridge Equity Partners, a growth equity firm with deep expertise in financial and business technology and services. The financing will fuel AI-powered product innovation, accelerate the company’s capital markets offerings and expand MountainSeed’s go-to-market reach.
The new capital will accelerate the deployment of Augur, MountainSeed’s AI-powered valuation and appraisal review platform, which helps financial institutions, appraisers and real estate firms manage risk and streamline credit workflows.
“Since the founding of MountainSeed, serving banks and credit unions has been core to our business. These institutions are the backbone of local economies across this country, and we are excited to serve them in new ways as our innovations in AI and automation accelerate. I’m proud of what our team has built over the past decade, and I’m grateful to our customers for trusting us along the way,” Carl Streck, founder and CEO of MountainSeed, said. “Partnering with Long Ridge felt right from the first conversation. They describe themselves as ‘founder friendly’ and that’s exactly what we’ve experienced. The Long Ridge partnership brings us the right capital and expertise to accelerate our business. I’m as excited about what’s ahead as I’ve ever been.”
Kevin Bhatt, managing partner at Long Ridge, added, “Carl and the MountainSeed team have built a unique and differentiated position serving banks and credit unions, with deep customer relationships and an industry-leading service offering. As AI transforms appraisal management and valuation technology, MountainSeed is incredibly well-positioned to extend its leadership and serve clients in new and innovative ways. We’re proud to back Carl and the team through this next phase of growth.”
In connection with the investment, Kevin Bhatt and Rachel Philbin of Long Ridge will join MountainSeed’s board of directors.
Seyfarth Shaw served as legal counsel to MountainSeed. Goodwin Procter served as legal counsel to Long Ridge Equity Partners. Fifth Third Bank provided debt financing as part of the transaction.
