Total Expert Raises $20 Million in Series B Funding to Fuel Growth of ‘Marketing Operating System’ Software for Banks & Lenders

By STS News Desk On Oct 12, 2018

Total Expert Launches Platform Capabilities to Drive Authentic Customer Relationships

Six year old company already powers marketing and revenue growth for 10% of $2 trillion per year U.S. mortgage industry

Total Expert, the fintech software pioneer powering the marketing behind billions in lender and banker revenue, today announced it has raised $20 million in Series B funding. The round was led by Emergence Capital with participation from Rally Ventures and Arthur Ventures, bringing Total Expert’s total funding to $34 million.

“We started Total Expert to ensure banks and lenders stay ahead of how customers expect to communicate, shop, and manage their financial lives in the digital/social era,” said Joe Welu founder and chief executive officer at Total Expert. “People expect digital simplicity and real human relationships, and financial services companies too often lose these relationships when they don’t engage with personalized, automated communication as people go from awareness to lead to transaction. We solve this using data to drive each customer’s journey toward a relevant transaction, then manage each customer relationship for life.”

Customer relationship management (CRM) is one piece of a complex marketing automation software puzzle. For banks and lenders to grow sales while protecting consumers from unfair and deceptive messages, CRM software isn’t enough. They must have a full Marketing Operating System (MOS) to easily create and track every tweet, text, email, postcard, etc., from first send to closed transaction, and every communication must be polished and personalized whether a customer is just starting to research a mortgage or they’re a years-long relationship who may now be ready to open new credit and deposit accounts for their teenagers.

Total Expert created the MOS software category in 2012 to address these complex needs and began with mortgage, the most technical and highly-regulated sector of consumer finance. The company already powers marketing and revenue growth for 10% of $2 trillion per year U.S. mortgage industry, and since 2016, it has multiplied its customer base seven times, which includes eight of America’s top 15 lenders like U.S. Bank, loanDepot, Guaranteed Rate and Movement Mortgage. Total Expert has also quadrupled in size to 162 employees since then, and is the fastest growing software company in Minnesota.

“We saw a massive opportunity in the MOS software category Total Expert created to turn marketing into a revenue center for lending, banking, wealth management, and insurance companies,” said Joseph Floyd, partner at Emergence Capital. “Financial services software requires specialized expertise to allow large sales forces to deploy creative, compliant marketing across all channels, and this is the DNA of Total Expert’s product, brand and vision. Their team of engineers, data scientists, designers and financial services veterans puts them in a rare position to modernize how financial institutions acquire, manage and grow customer relationships.”

With the new capital, Total Expert will accelerate marketing innovation in banking and lending, and also begin expanding into insurance and wealth management in America and around the world.