RateGravity, Inc.

RateGravity, Inc. specializes in AI-driven mortgage shopping, simplifying the mortgage process for homebuyers and homeowners looking to refinance by providing personalized advice and access to a network of lenders. Founded in 2015 and headquartered in Boston, US, RateGravity, Inc. offers a unique mortgage shopping platform.

The company has completed 6 deals as of December 30, 2020, when it raised USD 12 mn in Series B funding led by Brand Foundry Ventures, with investments from Link Ventures, Listen Ventures, and Techstars Ventures. The founders are Brent Shields, Mike Tassone, and Patrick Boyaggi, with Patrick Boyaggi serving as the CEO. Own Up specializes in providing an AI-driven mortgage shopping service designed to facilitate the mortgage process for homebuyers and homeowners looking to refinance. The core offerings include personalized mortgage advice, access to a network of top-rated lenders, and tools such as the Affordability Calculator and Rate Range Finder.

These services aim to help clients optimize their mortgage options by comparing rates and terms across various lenders, aiding first-time homebuyers, individuals purchasing second homes or investment properties, and real estate professionals seeking to assist their clients effectively. The service is available across a wide geographical market in the United States. Revenue generation for Own Up is based on its model of connecting consumers with lenders without direct charges to users. The company provides personalized mortgage offers sourced from a curated list of lenders who pay for leads generated through the platform.

This model allows consumers to access the service free of charge while ensuring they receive competitive mortgage offers without sales commissions inflating rates. The structure emphasizes transparency and consumer empowerment, benefiting clients seeking favorable financial outcomes. Following the recent Series B funding round in December 2020, RateGravity, Inc. plans to bolster its product offerings and expand its market presence.

The funding will support the development of new mortgage tools intended for release in the coming year. The company is also targeting expansion into additional states across the U. S. to broaden its reach and increase consumer access to its mortgage services.