Polly, which provides cloud-native mortgage capital markets technology, has raised $25 million in its latest funding round.

The company said that the investment will support its growth, enable it to carry out research, and facilitate the development of new products.

The investment was led by 8VC with participation from existing investors Meritech, Khosla Ventures and Fifth Wall.

Polly said that during 2024 it has more than doubled its customer partner base to include banks, credit unions, and mortgage lenders. As a result of its growth, Polly said it wants to invest more into scaling its implementation and support programmes.

The company also plans to further evolve its AI platform, expecting to expand its teams by around 25 per cent in the short term to support its growth.

“This additional capital will enable our team to continue to pioneer unrivalled product innovation for our customer partners, invest significantly more into our AI platform and capabilities, and deliver world-class implementation and service,” said Adam Carmel, founder and chief executive of Polly. “We deeply value partnership with our customers, and this is our way of doubling down on our commitment to them.”

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