What is Blooma?
Founded in 2018 and headquartered in San Diego, Blooma leverages a proprietary digital underwriting platform driven by artificial intelligence and machine learning to accelerate and enhance the commercial real estate lending experience. Their AI solution empowers lenders to drastically reduce loan origination time and costs, while simultaneously conducting more thorough transaction analyses. By integrating with numerous third-party market data providers, Blooma automates the analysis of asset and borrower data, and provides continuous, real-time auditing of loans and portfolios. This capability offers lenders early risk indications, leading to a reduction in commercial loan origination time and expenses by up to 75%, and a significant improvement in time-to-revenue for financial institutions.
How much funding has Blooma raised?
Blooma has raised a total of $17.8M across 2 funding rounds:
Angel/Seed
$2.8M
Series A
$15M
Angel/Seed (2019): $2.8M, investors not publicly disclosed
Series A (2021): $15M led by Nyca Partners and Canapi Ventures
Key Investors in Blooma
Nyca Partners
Nyca Partners is a venture capital firm specializing in fintech, focusing on early-stage investments in payments, infrastructure, and capital markets. They provide capital alongside strategic support and network access to innovative financial technology companies.
Canapi Ventures
CANAPI is an organization focused on education and outreach within the HIV/AIDS and LGBTQ community, offering housing assistance and prevention programs. Their mission is to empower an inclusive community and reduce stigma.
What's next for Blooma?
The recent major strategic investment signals a pivotal growth phase for Blooma, likely enabling further expansion of its AI capabilities and market penetration within the enterprise-level commercial real estate lending space. This capital infusion is expected to fuel product development, enhance sales and marketing efforts, and potentially explore new verticals or partnerships. Blooma's focus on reducing origination costs and improving risk assessment positions it for continued success in a market ripe for digital transformation.
See full Blooma company page
