Cambridge, MA | October 5th 2018
Link Ventures is announcing a $1 million investment in the seed financing round of RateGravity, a Boston-based mortgage technology company. Designed for consumers first, RateGravity aims to disrupt the mortgage industry by matching home buyers with optimal lenders based on criteria determined through a proprietary online pre-qualification process. The company has secured key relationships with prominent lenders in Massachusetts and is able to pass savings along to consumers in the form of lower interest rates. “We are thrilled to be partnering with RateGravity and we believe their technology has the potential to transform the mortgage industry,” said Bill Ferguson of Link Ventures, who will be joining the board as an observer. “We were impressed with the background of the team, particularly their industry expertise, and we look forward to working with them on this journey.” Patrick Boyaggi, the CEO of RateGravity, added: “We are excited to welcome Link Ventures as an investor. Their expertise in consumer internet is evident in their recent success with EverQuote [NASDAQ: EVER], and the ability to leverage their data assets within Cogo Labs will be a huge advantage for us going forward.” RateGravity plans to expand to the rest of New England and all of Florida by the end of 2018.
About RateGravity: Headquartered in Boston, RateGravity is an online mortgage service with on-demand personal mortgage experts committed to securing home loans from certified local lenders that offer discounted interest rates. Since launching in 2016, RateGravity has worked with hundreds of customers who have saved an average of $30,000 on their home loans.
About Link Ventures: Based in the Kendall Square innovation hub of Cambridge, Link Ventures is a venture capital firm dedicated to investing in consumer internet technology companies that demonstrate early virality and capital-efficiency. Link Ventures is the parent company of Cogo Labs, an incubator of internet companies, and is able to leverage the proprietary data assets housed within Cogo Labs to help build online audiences and drive traffic for its portfolio companies.
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