May 2018

DCS Advisory Acts as Exclusive Financial Advisor to Cloudvirga on $50 Million Series C Capital Raise Led By Riverwood Capital

DCS Advisory, a leading investment banking firm, acted as exclusive financial advisor to Cloudvirga™, a leading provider of digital mortgage point-of-sale (POS) software, on its $50 million Series C funding round led by private-equity firm Riverwood Capital with ongoing participation from Upfront Ventures. The new funding will support Cloudvirga’s mission to help lenders reduce record-high loan production costs via automation and empower borrowers with greater transparency and engagement in the mortgage transaction.

“The DCS Advisory team orchestrated a well-managed process, resulting in a strong outcome for Cloudvirga in both valuation and securing a committed new investment partner. The DCS team worked tirelessly from kick-off to close supporting the Cloudvirga team and clearly communicating Cloudvirga’s differentiated value proposition to top-tier private equity firms,” said Michael Schreck, CEO of Cloudvirga.

This is the fourth transaction closed by DCS Advisory’s Financial Technology team over the past four months, including the sale of the Ensenta Corporation to Jack Henry & Associates (NASDAQ: JKHY) for $130 million. DCS Advisory’s Financial Technology team are leading advisors with expertise across all financial technology sectors including payments, bank & insurance technology, data & analytics, capital market technology, exchanges & execution platforms, and brokerage & trading firms.

About DCS Advisory
DCS Advisory LLC is a leading investment bank specializing in M&A and private capital raising. DCS Advisory is a wholly owned subsidiary of Daiwa Capital Markets America Holdings Inc. and is an indirect subsidiary of Daiwa Securities Group Inc. Along with sister company DC Advisory, other Daiwa affiliates, and alliance partners, DCS Advisory is part of an established global brand with more than 900 professionals in 37 offices throughout the Americas, Europe and Asia. DCS Advisory covers a broad range of industries including Aerospace, Defense & Government Services, Business and Tech-Enabled Services, Industrials, Consumer, Retail and Leisure, Media and Telecom, and Technology and Software. For more information please visit www.dcsadvisory.com.

About Cloudvirga™
Cloudvirga’s digital mortgage point-of-sale (POS) software, powered by the intelligent Mortgage Platform®, uniquely combines a world-class borrower experience with a truly automated lender workflow that radically cuts overall loan costs, increases transparency and reduces the time to close a loan. Founded by top fintech veterans with a track record of building successful mortgage technologies, Cloudvirga’s customer base includes eight of the top 40 non-bank mortgage originators. To date, Cloudvirga has raised over $77 million from some of the country’s top lenders and private-equity firms. For more information, visit http://www.cloudvirga.com or follow Cloudvirga on LinkedIn.

About Riverwood
Riverwood Capital is a private equity firm that invests in high growth middle-market technology companies. Riverwood offers a unique combination of operational, strategic, technology, and financial insight to portfolio companies. The firm partners with established businesses with a proven technology and business model, and the proper fit in terms of culture and values, in both minority and control situations. Riverwood has offices in Menlo Park; New York; and Sao Paulo, Brazil. For more information, please visit https://www.riverwoodcapital.com.