News

At Serent Capital, we pride ourselves on being approachable and we are always keen to meet entrepreneurs, intermediaries, and executives who share our passion for building great businesses.

2017-08-18

Serent Capital Portfolio Company Mercury Network Acquired by CoreLogic

 

San Francisco, CA - August 18, 2017 — Serent Capital, a San Francisco-based private equity firm, announced that it has completed the sale of Mercury Network to CoreLogic. In June, Serent sold a 45% minority stake in Mercury and in August sold the remaining 55%.

Founded in 2010, Mercury Network is the leading appraisal vendor management software provider serving more than 800 mortgage lenders and appraisal management companies (“AMCs”). The company offers a broad range of solutions to help its clients manage the entire collateral valuation process in compliance with applicable regulations. Lenders and AMCs leverage Mercury’s network of over 27,000 registered appraisers to filter for and select the best appraiser for a given assignment, place the appraisal order, manage communication with the appraiser, and run automated quality control checks on the appraisal report.

“Mercury Network chose to partner with Serent Capital because we believed that Serent’s growth-focused model and hands-on support would be instrumental in helping the company scale to the next stage in its evolution," said Jennifer Miller, President of Mercury Network, who helped found the Mercury product while it was still part of its former parent company, a la mode, inc. She continued, "We are excited about this next chapter with CoreLogic and believe that a combination of the two businesses creates the opportunity to enhance the value that we bring to our customers."

"Serent Capital has been instrumental in helping us achieve rapid growth, which we realized through both organic and inorganic means over the past two years," said William Clemens, CEO of Mercury Network. "Our partnership with Serent provided us with the resources to expand our product capabilities, bolster our executive team, optimize our go-to-market strategy, and enhance our customer value proposition through accretive acquisitions in Platinum Data Solutions and Appraisal Scope."

"We are energized by Mercury Network’s success, and humbled by the opportunity to work with Will, Jennifer, and the entire executive team at Mercury," said Lance Fenton, partner of Serent Capital. "The team did a terrific job of maintaining Mercury’s commitment to serving the customer, while also navigating a period of rapid growth and acquisition integrations. We congratulate the team on this successful outcome and are excited for Mercury’s continued success as part of CoreLogic.”

About Serent Capital
Serent Capital invests in growing businesses that have developed compelling solutions that address their customers' needs. As those businesses grow and evolve, the opportunities and challenges that they face evolve with them. Principals at Serent Capital, through their experiences as CEOs, strategic advisors, and board members to successful, growing businesses, have firsthand experience in capturing those opportunities and navigating related challenges. By bringing its experience and capital to bear, Serent helps growing businesses thrive.

For more information on Serent Capital, visit www.serentcapital.com.

Disclaimer
This confidential document has been prepared solely for the information of the person to whom it has been delivered on behalf of Serent Capital and may not be reproduced or used for any other purpose. Each person accepting this confidential document agrees to return it to Serent Capital promptly upon request.

The information contained in this document does not constitute an offer to sell nor a solicitation of an offer to purchase interests of Serent or any current or future private investment fund managed by Serent (collectively, the “Funds”), nor do the materials constitute a financial promotion, investment advice or an inducement or incitement to participate in any product, offering or investment, nor do they suggest, implicitly or otherwise, that the Funds have received regulatory approval. Offers and sales will be made only pursuant to a confidential private placement memorandum (each a “Memorandum”), which describes risks related to an investment therein and which qualifies in its entirety the information contained in this document. The Memorandum, including the risk factors and potential conflicts of interest described therein, and other governing documents should be read in their entirety and carefully prior to investment.

The portfolio company profiles provided in this document are intended as examples that clarify and typify Serent’s investment approach, not as an exhaustive catalogue of Serent’s investments. The companies were not selected based on the return on Serent’s investment in them. It should not be assumed that the specific investments identified and discussed herein were or will be profitable or that any portfolio company investments made in the future will equal the performance of the companies identified herein. No guarantee of investment performance is being provided and no inference to the contrary should be made.

No representation, warranty or undertaking, express or implied, is given as to the accuracy or completeness of the information or opinions contained in this document and no liability is accepted by such persons for the accuracy or completeness of any such information or opinions.

There can be no guarantee that investment strategy employed by Serent will be successful. Any investment in the Funds managed by Serent is speculative, involves a high degree of risk and is very illiquid (in that withdrawals of capital are not permitted). An investor in the Funds managed by Serent can lose all, a significant portion or some amount of its investment and should be prepared to hold such an investment for an extended period of time.

The investment thesis presented herein represents Serent’s opinions and beliefs as of the date of the case study shown. Specifically, adjectives such as “attractive”, “top-tier”, “best-in class”, “high”, “strong”, etc. reflect Serent’s belief and view of a particular aspect of the company being discussed. There is no guarantee that any investment will perform as projected.