SimpleNexus Acquisition, Valuation, Funding & Investors

SimpleNexus was acquired by Ncino for $1.2B in November 2021, a 28.8x multiple on $42M of revenue.

SimpleNexus acquisition price

$1.2B

Acquired by Ncino · Nov 2021

SimpleNexus revenue at acquisition

$42M

Last twelve months · Nov 2021

SimpleNexus revenue multiple at acquisition

28.8x

EV/Revenue · Nov 2021

Cumulative funding SimpleNexus raised

$128M

across 2 funding rounds

SimpleNexus Overview

About SimpleNexus

SimpleNexus is a digital mortgage platform that integrates loan origination, borrower portals, and partner collaboration for lenders, real estate agents, and settlement services. Its mobile-first app enables seamless data sharing across web, iOS, and Android devices, streamlining closings and compliance. Acquired by Black Knight in 2021 and now part of ICE Mortgage Technology, the Lehi-headquartered company founded in 2011 powers over 300 mortgage lenders nationwide.


Founded

2011

HQ

United StatesSalt Lake City, UT

Status

Acquired

Customer focus

B2B

Revenue model

Subscription

Revenue

$42M (Nov 2021)

Valuation

$1.2B (acquired Nov 2021)

SimpleNexus Acquisition

SimpleNexus was acquired by Ncino for $1.2B on 16 November 2021.

The acquisition price implies a 28.8x revenue multiple on $42M of revenue.

Before the acquisition SimpleNexus had raised $128M across 2 funding rounds.

SimpleNexus acquisition details
AcquirerDateTypePriceEV/Revenue
16 Nov 2021Strategic M&A$1.2B28.8x

SimpleNexus Funding History

SimpleNexus has raised a total of $128M across 2 funding rounds.

SimpleNexus' first fundraising round was a $20M Series A in June 2018. The most recent completed round was a $108M Series B in January 2021.

SimpleNexus funding rounds

SimpleNexus funding rounds
DateStageInvestorsRaisedDeal Summary
Jan 2021Series BInsight Partners (lead); TVC Capital$108MSimpleNexus is a digital mortgage platform that enables loan officers to use mobile devices to manage the entire mortgage origination process in real-time. The company's technology allows loan originators to view applications, pull credit reports, and oversee all loan aspects while staying connected to their loan origination systems, serving enterprise mortgage companies and individual loan officers across the United States. By June 2018, SimpleNexus had achieved significant traction with over $100 billion in transactions flowing through its platform, more than 450,000 borrowers using the app, 15 of the top 25 retail mortgage lenders in the US as clients, and service to more than 180 enterprise mortgage companies and 17,000 loan officers nationwide. On January 5, 2021, SimpleNexus raised $108 million in Series B funding led by Insight Venture Partners, which had previously invested $20 million in the company in 2018. This investment elevated Insight Partners' ownership to 62% of the company, implying a post-money valuation of $169 million. The company generated $41.6 million in revenue in fiscal year 2021. SimpleNexus was subsequently acquired by nCino on November 16, 2021, for approximately $1.2 billion in consideration consisting of roughly 80% nCino common stock and 20% cash, representing a significant return for investors including Insight Partners.
Jun 2018Series AInsight Partners (lead); Channel Equity Partners$20MSimpleNexus, headquartered in Lehi, Utah, provides a digital mortgage platform that brings the home mortgage process to mobile devices, enabling loan officers to manage applications, credit reports, and loan processes via smartphones while connecting lenders, borrowers, real estate agents, and settlement agents in real-time. The platform serves mortgage corporations, branches, and individual loan officers, with 15 of the top 25 retail mortgage lenders in the US as customers, over 180 enterprise mortgage companies, and more than 17,000 loan officers nationwide as of June 2018. On June 27, 2018, SimpleNexus raised $20 million in growth capital led by Insight Venture Partners (now Insight Partners), marking its first external funding after being self-funded, to accelerate growth, market expansion, and development of its mobile-first technology amid the digital mortgage movement. At the time of the round, the platform had processed over $100 billion in transactions and been used by over 450,000 borrowers, demonstrating strong traction without prior venture backing. The funding was positioned to enhance borrower experiences, empower loan originators, and streamline mortgage processes to reduce costs. Insight Partners highlighted SimpleNexus's value in improving customer experiences and operational efficiency in the mortgage and broader financial services sectors. This 2018 investment preceded a larger $108 million Series B round in early 2021, also led by Insight Partners with participation from TVC Capital. SimpleNexus was later acquired on November 16, 2021.

Who has invested in SimpleNexus?

3 investors have backed SimpleNexus across its funding rounds, including Insight Partners, TVC Capital and Channel Equity Partners.

Lead investors include Insight Partners.


SimpleNexus Investors

Investors in SimpleNexus by funding rounds participated
InvestorHQRoundsRoleFirst check
Insight PartnersUnited StatesNew York City, NY2LeadJun 2018

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Acquisitions by SimpleNexus

SimpleNexus has acquired 1 company to date.

Last acquisition by SimpleNexus was on October 15th 2021. SimpleNexus acquired LBA Ware for undisclosed valuation.


Latest Acquisitions by SimpleNexus

LBA Ware
Description
LBA Ware is an Atlanta-headquartered software provider delivering incentive compensation management and analytics platforms to mortgage lenders and servicers. Its flagship product CompenSafe automates commission calculations and compliance reporting, while MSuite integrates business intelligence for operational performance tracking across U.S. financial institutions.
HQ CountryUnited States
HQ City
Macon, GA
Deal Date15 Oct 2021
Valuationundisclosed
EV/Revenue
EV/EBITDA

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SimpleNexus Competitors

SimpleNexus competitors include listed companies like Altus Group and EverCommerce, and private ones like Vantaca, Kujiale, Place and Rentberry.

Public and private companies comparable to SimpleNexus
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
VantacaUnited StatesWilmington, DEPrivate--$1.3B-
Altus GroupCanadaCanadaPublicly listed$360M$31M$1.1B3.7x
EverCommerceUnited StatesUnited StatesPublicly listed$589M$128M$1.4B2.9x
KujialeChinaHangzhouPrivate$41M-$1B24.4x
PlaceUnited StatesSeattle, WAPrivate$150M-$1B6.7x
RentberryUnited StatesSan Francisco, CAPrivate--$1B-

SimpleNexus Public Comps

SimpleNexus is no longer listed, but its public comps include Altus Group, EverCommerce, Vitec Software, PEXA Group, Real Brokerage, Porch Group, Eleco, Ming Yuan Cloud Group, SmartRent and Real Matters.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Altus Group$360M$31M3.5x3.7x40.5x14.2x
EverCommerce$589M$128M3.0x2.9x13.7x9.5x
Vitec Software$371M$151M3.7x3.5x9.1x9.0x
PEXA Group$285M$100M3.4x3.4x9.8x9.3x
Real Brokerage$2B($6M)0.3x0.2x(87.2x)6.6x
Porch Group$510M$79M4.0x4.1x25.7x18.4x
Eleco$52M$9M4.6x4.5x25.8x16.8x
Ming Yuan Cloud Group$191M($7M)----

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Common questions about SimpleNexus

When was SimpleNexus founded?SimpleNexus was founded in 2011.
Where is SimpleNexus headquartered?SimpleNexus is headquartered in Salt Lake City, UT, United States.
Is SimpleNexus publicly listed?No, SimpleNexus was acquired by Ncino in November 2021.
Who acquired SimpleNexus?SimpleNexus was acquired by Ncino in November 2021.
How much was SimpleNexus acquired for?SimpleNexus was acquired for $1.2B in November 2021, a 28.8x revenue multiple.
How much funding has SimpleNexus raised?SimpleNexus has raised $128M across 2 funding rounds.
What was SimpleNexus' last funding round?SimpleNexus' last funding round was a $108M Series B in January 2021, led by Insight Partners.
Who are SimpleNexus' investors?SimpleNexus' investors include Insight Partners, Channel Equity Partners and TVC Capital.
Which companies are comparable to SimpleNexus?Companies comparable to SimpleNexus include Vantaca, Altus Group, EverCommerce, Kujiale, Place and Rentberry.
How many companies has SimpleNexus acquired?SimpleNexus has acquired 1 company, including LBA Ware.

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