Ellie Mae to Acquire Velocify

Velocify’s Lead Management Functionality Accelerates Ellie Mae’s
Digital Mortgage Vision

PLEASANTON, Calif.–(BUSINESS WIRE)–Ellie
Mae
® (NYSE:ELLI), the leading cloud-based platform
provider for the mortgage finance industry, announced today that it has
signed a definitive agreement to acquire Velocify®,
the leading sales acceleration platform. With the acquisition of
Velocify, Ellie Mae is accelerating our vision of offering a fully
digital mortgage by combining Velocify’s lead management, engagement and
distribution capabilities with Ellie
Mae’s Encompass CRM’s
unique approach to automated one-to-one
personalized marketing and the Encompass
Consumer Connect
digital consumer experience. Together, the robust
solution will meet the needs of today’s lenders by delivering a complete
digital lead capture and conversion solution for creating interest,
turning that interest into an application and then funding that loan
quickly and at a low cost.

Velocify’s lead management solutions help sales teams keep pace with the
speed of opportunity by driving rapid lead response, improving
productivity and offering actionable selling insights. The company helps
sales teams sell more by streamlining and optimizing the sales process
from start to finish by enabling teams to accelerate lead engagement,
and implement effective workflows, ultimately helping lenders find and
convert more leads, faster. Many of Ellie
Mae’s Encompass® all-in-one mortgage management solution
customers
use the Velocify solution today.

“As part of our comprehensive strategy to deliver the first true digital
mortgage to the industry, we are helping lenders to originate more
loans, reduce costs, and complete the entire mortgage process faster,”
said Jonathan Corr, president and CEO of Ellie Mae. “The combination of
Velocify’s solution with our Encompass CRM and Encompass Consumer
Connect solutions will accelerate our delivery of the most robust
digital mortgage solution in the market. The acquisition will enable us
to provide the first combined solution that helps lenders turn consumer
interest into applications by offering a personalized, high-tech and
human-touch experience. Going forward we will empower lenders’ sales
teams to keep pace with the speed of opportunity, drive down costs of
origination through greater lead capture and conversion, and improve
productivity through actionable selling insights.”

“A digital transformation is occurring across the financial services
industry, especially in the mortgage vertical in which Velocify has a
leading position,” said Nick Hedges, president and CEO of Velocify.
“Successful sales teams offer an end to end digital experience combined
with as much human touch as the consumer desires throughout their buying
process. The team at Velocify has built the leading software solution
for consumer sales engagement during the early stages of the sales
process. By joining forces with Ellie Mae we are very excited to extend
that capability throughout the consumer buying cycle.”

Under the terms of the agreement, Ellie Mae will acquire Velocify for
$128 million in cash. The transaction is expected to close in the fourth
quarter of 2017 and will have no impact on third quarter financials.
Ellie Mae will provide additional financial details when the company
reports its third quarter results.

Conference Call Information

Ellie Mae will host a teleconference at 6:00 p.m. Eastern Time today,
August 31, 2017, to discuss the acquisition of Velocify. To access the
call, please dial 888-601-3869 or 719-325-2431 at least five minutes
prior to the start time. A live webcast of the call will be available on
the Investor Relations section of the Company’s website at http://investor.elliemae.com.
An audio replay of the call will be available through September 14,
2017 by dialing 888-203-1112 or 719-457-0820 and entering access code
9529733.

About Ellie Mae

Ellie Mae (NYSE:ELLI) is the leading cloud-based platform provider for
the mortgage finance industry. Ellie Mae’s technology solutions enable
lenders to originate more loans, reduce origination costs, and shorten
the time to close, all while ensuring the highest levels of compliance,
quality and efficiency. Visit EllieMae.com
or call (877) 355-4362 to learn more.

About Velocify

Velocify®
provides a sales acceleration software platform that helps high-velocity
sales teams turn more prospects into customers. More than 1,500
companies streamline, automate, and optimize their sales processes using
Velocify. Velocify’s software delivers a prescriptive approach to
selling and surfaces actionable performance insights to ensure
salespeople stay focused on activities that lead to more sales.

Forward-Looking Statements

This press release contains forward-looking statements under the safe
harbor provisions under The Private Securities Litigation Reform Act of
1995. These forward-looking statements include statements regarding
Ellie Mae’s ability to successfully integrate Velocify’s software
solutions with Ellie Mae’s software solutions, the potential benefits of
the combined software solutions as well as Ellie Mae’s ability to
deliver its digital mortgage solution and the benefits of this digital
mortgage solution. These statements involve known and unknown risks,
uncertainties, and other factors which may cause actual results to be
materially different than those expressed or implied in such statements.
The forward-looking statements included in this press release are made
only as of the date hereof. Ellie Mae cannot guarantee future results,
levels of activity, performance or achievements. Accordingly, you should
not place undue reliance on these forward-looking statements. Finally,
Ellie Mae expressly disclaims any intent or obligation to update any
forward-looking statements to reflect subsequent events or
circumstances, unless otherwise required by law.

© 2017 Ellie Mae, Inc. Ellie Mae®, Encompass®, AllRegs®, the Ellie
Mae logo and other trademarks or service marks of Ellie Mae, Inc.
appearing herein are the property of Ellie Mae, Inc. or its
subsidiaries. All rights reserved. Other company and product names may
be trademarks or copyrights of their respective owners.

Contacts

PRESS CONTACTS:
Ellie Mae, Inc.
Erica Harvill,
925-227-5913
Erica.harvill@elliemae.com
or
Allison+Partners
Alexandra
Gardell Kreuter, 646-428-0618
EllieMae@allisonpr.com
or
IR
CONTACTS:

Ellie Mae, Inc.
Alex Hughes, 925-227-7079
VP
of Investor Relations
IR@elliemae.com
or
The
Blueshirt Group for Ellie Mae, Inc.
Lisa Laukkanen, 415-217-4967
lisa@blueshirtgroup.com