Mercury Network Expands Leadership Team Appoints Will Clemens CEO
February 9, 2016
OKLAHOMA CITY – Mercury Network today announced that Will Clemens, formerly Executive Chairman, has been appointed Chief Executive Officer (CEO). More than 800 mortgage lenders and appraisal management companies (AMCs) use Mercury Network’s cloud-based software to compliantly manage appraisal operations.
The company, acquired by Serent Capital in early 2015, has driven more than 30% revenue growth over the past 12 months. Compliance requirements and the necessity of reducing costs has created intense demand for Mercury’s platform, and many large lenders and AMCs need immediate custom implementations.
“Will’s contributions will give us the ability to scale operations during this growth trajectory, while I pinpoint my focus on continuing to develop the software tools our customers need”, said Jennifer Miller, president of Mercury Network. “We are excited to add Will to our executive team”.
Clemens’ experience as Mercury’s Executive Chairman and board member combined with his strong track record in enterprise software, financial technology and investment operations positions the company to accelerate an already impressive growth rate. “With Jennifer Miller’s leadership, Mercury Network has been successful because of the team’s commitment to delivering the vendor management software tools and the service levels that lenders, AMCs and appraisers need. I’m excited to join this management team to serve our clients.”
Mercury’s primary investor, Serent Capital, has a long history of experience with Clemens from his roles with other portfolio companies. “Serent has the utmost confidence in Mercury’s leadership team and Clemens will be a valuable addition to help Mercury achieve their growth objectives”, stated Lance Fenton, Partner at Serent.
About Mercury Network
Mercury Network is the software platform used by more than 700 lenders and AMCs to manage their collateral valuation workflow. The company’s solutions include Mercury Network for appraisal vendor management, Enterprise Vendor Framework (EVF) for lender management of AMCs, AQM for quality assurance and quality control compliance, and SureReceipts for compliant eDisclosures to the borrower. For more information about the company, visit www.MercuryVMP.com.
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