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Michael Schreck

Michael Schreck

Irvine startup Cloudvirga today announced it closed a $50 million Series C funding round led by private-equity firm Riverwood Capital in Menlo Park.

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Upfront Ventures in Santa Monica also participated in the round.

The company, which makes software that automates the mortgage process, was spun out of Calabasas-based lender Skyline Home Loans in February 2016 and led by Chief Executive Michael Schreck.