Staircase has built an API platform that integrates the many systems and parties involved in mortgage origination, creating what its founders call an integration orchestration layer. The company positions the product as an "AWS Marketplace"-like platform for mortgage technology, enabling different vendors and legacy systems to interoperate more quickly. Staircase says its API can reduce average mortgage turnaround from about 45 days to 10 days and cut loan origination costs from roughly $9,140 to $1,000. The company was started by CEO and co-founder Adam Kalamchi (a former proptech investor) and co-founder Soofi Safavi (formerly an application developer at JPMorgan Chase). Staircase employs roughly 50 people, with more than 40 engineers, and plans to use new capital primarily for product development and hiring. Financially, the company has raised capital since its early 2020 inception and recently closed a new financing round.

Total raised

$18M

Funding rounds

1

Latest round

Series A

Latest activity

Dec 2021