Irvine-based digital mortgage software provider Cloudvirga continues to beef up its executive team.
The most prominent recent hire of the private equity-backed fintech company, which makes software that automates the mortgage process, is Tim Von Kaenel. He was named chief product officer last week to oversee product strategy, design and go-to-market planning, reporting to Chief Executive Michael Schreck.
Von Kaenel was most recently chief product officer at Foothill Ranch-based loanDepot.com LLC, the fifth-largest U.S. retail lender, where he headed its digital mortgage lending platform.
Prior to loanDepot, he was senior vice president and co-founder of Plano, Texas-based SimpleAir Inc., an inventor-owned technology licensing company focused on intellectual property assets in the smartphone, wireless content delivery, mobile application, messaging and push notification spaces.
Schreck said in a statement that he “can think of no one better than Tim to fulfill Cloudvirga’s commitment to delivering on the promise of tomorrow’s digital mortgage today.”
The company said Von Kaenel has led startups in the financial services, software and wireless broadcasting sectors to several successful spinouts and acquisitions, and two initial public offerings.
He’s not the only new addition to Cloudvirga’s team.
Last month, it announced bringing on James Vinci to the firm’s newly created executive vice president of technology position.
Vinci “will execute Cloudvirga’s technical vision, oversee initiatives to strengthen developer talent and collaborate across departments to scale technical initiatives to the company’s explosive growth,” the company said in a statement.
Vinci has 25 years of experience overseeing technology strategy, product development and service provider partnerships at leading mortgage technology companies, including Equator, an affiliate of real estate and mortgage technology firm Altisource Portfolio Solutions S.A. (Nasdaq: ASPS).
Last month, Cloudvirga brought on Jesse Decker as chief customer success officer to work with the product development and marketing teams to help mortgage lenders use Cloudvirga’s point-of-sale products.
Cloudvirga’s flagship “intelligent mortgage platform” product supported about $17 billion in loan transactions last year from its growing list of customers, which used the service to originate more than $100 billion in loans.
Its latest offering is a mobile and broker point-of-sale product geared for lenders and bankers that’s slated to launch next year.
The company posted an estimated $20 million-plus in revenue this year.
Cloudvirga has raised more than $77 million, including a $50 million Series C in May led by private equity firm Riverwood Capital Management LP in Menlo Park. The round included participation from Santa Monica-based Upfront Ventures.
The fast-growing company is getting more office space to accommodate the recent hires.
The Business Journal reported in October of the company’s plans to move headquarters from the Jamboree Business Center office complex near The Market Place shopping center to a new 24,000-square-foot office at UCI Research Park near the University of California-Irvine.
The company had about 100 employees in Irvine as of October.
