Sela Secures $21M in Funding After AI Agents Originate Over $1B Monthly in Mortgages
San Francisco-based Sela, a leader in voice AI for mortgage sales, has raised $21 million across Seed and Series A funding rounds led by Costanoa with participation from Emergence Capital. The company's AI agents are currently helping loan officers originate more than $1 billion in new mortgages per month. In just 18 months, Sela achieved an annualized run-rate revenue of over $10 million. Sela’s technology is designed to guide borrowers through the mortgage process by answering complex questions and building rapport while maximizing conversion rates. The company claims its AI outperforms both human teams and other voice AI solutions in key metrics like lead-to-lock rate improvements, with one test showing a 9% increase leading to over 40% higher profits for lenders. Sela’s co-founders include Nate Becker, former co-founder of VoiceOps and LinkedIn data scientist, and Vahe Tshitoyan, ex-Google machine learning engineer. The company plans to expand its team from 17 employees to around 50 in the next year.
