WEST PALM BEACH, Fla.–(BUSINESS WIRE)–OpenClose®, the leading fintech provider of mortgage software solutions for banks, credit unions and mortgage lenders, today announced that it has been named to the 2021 Inc. 5000 list, the most prestigious ranking of the nation’s fastest-growing private companies.
OpenClose achieved a remarkable three-year (2017–2020) revenue growth of 69% and expanded its team by 74% during that same period. The company was especially resilient and flexible given unprecedented challenges of 2020. The entire team adapted quickly to working remotely and actually increased capabilities to meet client demand. As purchase and refinance demand increased, OpenClose kept pace with the market and ensured customer needs were met.
The company achieved the rank of No. 23 in the state of Florida’s ‘Software’ category and was one of very few companies to make the list in West Palm Beach. A 22-year-old company that is able to achieve revenue targets and earn a spot on a respected list of high-growth companies is a significant achievement.
The list represents a unique look at the most successful companies within the American economy’s most dynamic segment — its independent, small businesses. Some of the most well-known companies gained their first national exposure as honorees on the Inc. 5000, including Microsoft, Dell, LinkedIn, Intuit, Zillow and many others.
“Being on the Inc. 5000 list is an incredible honor — a welcome validation that OpenClose has been on the right track for more than 20 years and is now accelerating that growth while maintaining our boutique identity along with high customer touch points that our customers expect,” said JP Kelly, president of OpenClose. “Our team is comprised of the best people, committed to the greatest service culture in the industry. Our employees and our customers are the real reasons we earned this honor.”
OpenClose CEO/CTO Jason Regalbuto added, “We are delighted to be included among this esteemed group of companies. We have worked hard and overcome many challenges over the years to become a profitable organization with accelerating growth. We remain committed to working with our customers across the country as a true mortgage technology partner and to provide innovative solutions to their operational challenges.”
OpenClose was built on a successful business model that increases the efficiency of the lending process for several of the top mortgage lenders in the country and reduces their costs. For more than 20 years, OpenClose has been helping their customers save borrowers money and providing a more financially prudent way of achieving the American Dream. With increasing market share the company is poised for continued success in a highly competitive marketplace.
“The 2021 Inc. 5000 list feels like one of the most important rosters of companies ever compiled,” says Scott Omelianuk, editor-in-chief of Inc. “Building one of the fastest-growing companies in America in any year is a remarkable achievement. Building one in the crisis we’ve lived through is just plain amazing. This kind of accomplishment comes with hard work, smart pivots, great leadership, and the help of a whole lot of people.”
More about Inc. and the Inc. 5000
Methodology
Companies on the 2021 Inc. 5000 are ranked according to percentage revenue growth from 2017 to 2020. To qualify, companies must have been founded and generating revenue by March 31, 2017. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2020. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2017 is $100,000; the minimum for 2020 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to three decimal places. There was one tie on this year’s Inc. 5000. Companies on the Inc. 500 are featured in Inc.’s September issue. They represent the top tier of the Inc. 5000, which can be found at http://www.inc.com/inc5000.
About Inc. Media
The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including web sites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers, and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Vision Conference is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.
About OpenClose
Founded in 1999, OpenClose is the preeminent fintech provider that developed the mortgage banking industry’s first SaaS-based lending automation software platform. Today, the company has expanded to become an award-winning, comprehensive loan origination software suite that slashes the cost to manufacture loans by up to 40 percent, reduces processing and underwriting cycle times by up to 50 percent, and requires minimal support to install and manage. OpenClose is the only vendor in the industry able to offer a true end-to-end, omni-channel, 100 percent browser-based, workflow-driven platform that effectively consolidates the digital POS, LOS, PPE and BI functions via a single provider, with easy access from any browser or mobile device. For more information, visit https://www.openclose.com.